Complete the first two months of an amortization schedule for the fixed-rate mortgage. Mortgage: $112,650 Interest rate: 3.75% Term of loan: 11 years Complete the first two payments of the amortization schedule below. (Do not round until the final answer. Then round to the nearest cent as needed.) Total Interest Principal Payment Payment Payment Payment Number Balance of Principal
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- omplete the first month of the amortization schedule for the following fixed rate mortgage. Round the answer to the nearest cent. Mortgage: $79,000 Interest rate: 8.5% Term of loan: 15 years Amortization Schedule Payment Total Interest Principal Balance of Number Payment Payment Payment Principal 1 $777.94 (a) _____ (b) _____ (c) _____Complete the first two months of an amortization schedule for the fixed-rate mortgage. Mortgage: $114,150 Interest rate: 5.25% Term of loan: 12 years Complete the first two payments of the amortization schedule below. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Number Total Interest Principal Payment Balance of Principal Payment Payment $4 1 %$4 %24 Enter your answer in each of the answer boxes. Copyright © 2020 Pearson Education Inc. All rights reservedThis Question: Complete the first two months of each amortization schedule for a fixed-rate mortgage. Mortgage, $144,800; Interest rate, 6.9%; Term of loan, 16 years Fill out the amortization schedule below and round all values to the nearest cent. 12 Monthly Mortgage Payment Formula: R= 121 12 1- 12 +r Interest Payment Formula: I=P 12 Payment Number Total Payment Interest Principal Payment Balance of Principal $144,800 Payment (a) S (e) S (b) $ () S[ (c) S (9) s (d) s (h) S 2.
- list K Complete the first month of the amortization schedule for a fixed-rate mortgage. Complete parts (a) through (d). Mortgage: $103,000 Interest rate: 5.5% Term of loan: 15 years Click the icon to view the Real Estate Amortization Table. Complete the first payment of the amortization schedule. (Do not round until the final answer. Then round to the nearest cent as needed.) Amortization Schedule Payment Number 1 Total Payment (a) $841.60 Interest Payment ... (b) $472.03 Principal Payment (c) $369.57 Balance of Principal Save (d) $472.032. A mortgage has the following terms: Amount: $750,000 Rate: 6.25% Amortization (Years): 30 Term (Years): 20 Please determine the following: A. What is the Monthly Payment? B. In preparing an Income Statement, what is the Interest Expense for years 1-5? C. What is the Principal Balance at the end of year 6? D. What is the value of the loan at the expiration? E. If rates remain constant (flat), what would the benefit be to refinance this loan after year 10?Complete the first month of the amortization schedule for a fixed-rate mortgage. Mortgage: $117,000 Interest rate: 8.0% Term of loan: 25 years Payment Number Total Payment Interest Payment Principal Payment Balance of Principal 1 (a) $nothing (b) $nothing (b) $nothing (d)
- Make an amortization table to show the first two payments for the mortgage. Amount of Annual interest rate Years in mortgage Monthly payment mortgage $85,000 6.00% 25 $547.40 End-of-month principal Monthly Month Interest Principal payment 1 $547.40 24 %$4 2 $547.40 (Round to the nearest cent as needed.)calculate the payment amounts when the mortgage is below are renewed for a second term. Assume interest rates are fixed and compounded semi annually, and that the amortization period is reduced appropriately upon renewal Original Amortization Principal Period (Years) $336,362 First-Term Information Second-Term Information New Payment 25 8.75% 5% 0.00 Monthly payments Weekly payments 3-year term 4-year term $652,731 30 9% 4.75% 0.00 Biweekly payments Biweekly payments 4-year term 4-year term $705,122 20 4.75% 3.75% 0.00 Weekly payments Biweekly payments 3-year term 5-year termMake an amortization table to show the first two payments for the mortgage. Amount of Annual interest rate Years in mortgage Monthly payment mortgage $110,000 5.25% 30 $607.20 Monthly payment End-of-month principal Month Interest Principal 1 S607.20 2 $607.20 2$ (Round to the nearest cent as needed.)
- Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $407,550 5.25% 35 $2122.29 Month Monthly payment Interest Principal End-of-month principal 1 $2122.29 $enter your response here $enter your response here $enter your response here 2 $2122.29 $enter your response here $enter your response here $enter your response hereA fully amortizing mortgage loan is made for $84,000 at 6 percent interest for 25 years. Payments are to be made monthly. Required: a. Calculate monthly payments. b. Calculate interest and principal payments during month 1. c. Calculate total principal and total interest paid over 25 years. d. Calculate the outstanding loan balance if the loan is repaid at the end of year 10. e. Calculate total monthly interest and principal payments through year 10. f. What would the breakdown of interest and principal be during month 50?Consider a home mortgage of $17500 at a fixed APR of %6 for 15 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. Please show all work computaion explanation formulas clearly with steps