Amortization table (mortgage principal and interest per $1,000)Rate2.0002.1252.2502.3752.5002.6252.7502.8753.0003.1253.2503.3753.5003.6253.7503.8754.0004.1254.2504.3754.5004.6254.7504.8755.0005.1255.2505.3755.5005.6255.7505.8756.0006.1256.2506.3756.5006.6256.7506.875InterestOnly0.166670.177080.187500.197920.208330.218750.229170.239580.250000.260420.270830.281250.291670.302080.312500.322920.333330.343750.354170.364580.375000.385420.395830.406250.416670.427080.437500.447920.458330.468750.479170.489580.500000.510420.520830.531250.541670.552080.562500.5729210 Year9.201359.257439.313749.370269.426999.483949.541109.598489.656079.713889.771909.830149.888599.9472510.0061210.0652110.1245110.1840310.2437510.3036910.3638410.4242010.4847710.5455610.6065510.6677610.7291710.7907910.8526310.9146710.9769211.0393811.1020511.1649311.2280111.2913011.3548011.4185011.4824111.5465315 Year6.435096.492816.550856.609216.667896.726896.786226.845866.905826.966097.026697.087607.148837.210377.272227.334407.396887.459687.522787.586207.649937.713977.778327.842977.907947.973208.038788.104658.170838.237328.304108.371188.438578.506258.574238.642508.711078.779948.849098.9185420 Year5.058835.118255.178085.238345.299035.360145.421665.483615.545985.608765.671965.735575.799605.864045.928885.994146.059806.125876.192346.259226.326496.394176.462246.530706.599566.668816.738446.808476.878876.949667.020847.092387.164317.236617.309287.382327.455737.529507.603647.6781425 Year4.238544.299664.361314.423484.486174.549384.613114.677354.742114.807384.873164.939455.006245.073525.141315.209595.278375.347635.417385.487615.558325.629515.701175.773305.845905.918965.992486.066456.140876.215756.291066.366826.443016.519646.596696.674176.752076.830396.909126.9882530 Year3.696193.759023.822463.886533.951214.016514.082414.148924.216044.283754.352064.420964.490454.560514.631164.702374.774154.846504.919404.992855.066855.141405.216475.292085.368225.444875.522045.599715.677895.756565.835735.915385.995516.076116.157176.238706.320686.403116.485986.5692940 Year3.028263.094443.161423.229213.297783.367143.437283.508183.579843.652263.725413.799303.873913.949234.025264.101984.179384.257464.336204.415594.495634.576294.657584.739474.821974.905054.988705.072935.157705.243025.328885.415255.502145.589525.677405.765755.854575.943856.033576.12373 Complete the following amortization chart by using Table 15.1.Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent.Selling price ofhomeDown payment192,000 $60,000Principal(loan)Rate ofinterest6.5 %Years40Payment per$1,000Monthlymortgagepayment

Solution: Loan amount = Selling price of home - Down payment Monthly mortgage payment = Payment per…

Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home $ Down payment 192,000 $ 60,000 Principal (loan) Rate of interest 6.5 % Years 40 Payment per $1,000 Monthly mortgage payment

Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home $ Down payment 192,000 $ 60,000 Principal (loan) Rate of interest 6.5 % Years 40 Payment per $1,000 Monthly mortgage payment

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home down payment principal (loan) Rate of interest years payment per $1,000 Monthly $160,000 $20,000 3 1/2% 30 TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Rate Interest Only 10 Year 15 Year 20 Year 25 Year 30 Year 40 Year 2.000 0.16667 9.20135 6.43509 5.05883 4.23854 3.69619 3.02826 2.125 0.17708 9.25743 6.49281 5.11825 4.29966 3.75902 3.09444 2.250 0.18750 9.31374 6.55085 5.17808 4.36131 3.82246 3.16142 2.375 0.19792 9.37026 6.60921 5.23834 4.42348 3.88653 3.22921 2.500 0.20833 9.42699 6.66789 5.29903 4.48617 3.95121 3.29778 2.625 0.21875 9.48394 6.72689 5.36014 4.54938 4.01651 3.36714 2.750 0.22917 9.54110 6.78622 5.42166 4.61311 4.08241 3.43728 2.875 0.23958 9.59848 6.84586 5.48361 4.67735 4.14892 3.50818 3.000 0.25000 9.65607…
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) AmountFinanced InterestRate Termof Loan(years) Numberof $1,000sFinanced TableFactor(in $) MonthlyPayment(in $) TotalInterest(in $) $168,300 7.25% 15 168.3 $ $ $
Prepare an amortization schedule for the first 3 payments (in $) of a $66,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.) Payment Number Monthly Payment Monthly Interest Portion Used to Reduce Principal Loan Balance 0 $ 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments(Necessary to amortize a loan of $1,000) InterestRate (%) 5Years 10Years 15Years 20Years 25Years 30Years 35Years 40Years 3.50 18.19 9.89 7.15 5.80 5.01 4.49 4.13 3.87 3.75 18.30 10.01 7.27 5.93 5.14 4.63 4.28 4.03 4.00 18.42 10.12 7.40 6.06 5.28 4.77 4.43 4.18 4.25 18.53 10.24 7.52 6.19 5.42 4.92 4.58 4.34 4.50 18.64 10.36 7.65 6.33 5.56 5.07 4.73 4.50 4.75 18.76 10.48 7.78 6.46 5.70 5.22 4.89 4.66 5.00 18.87 10.61 7.91 6.60 5.85 5.37 5.05 4.82 5.25 18.99 10.73 8.04 6.74 5.99 5.52 5.21 4.99 5.50 19.10 10.85 8.17 6.88 6.14 5.68 5.37 5.16 5.75…
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Find the monthly payment and the given simple interest amortized loan. $5000, 9.5%, 4 years
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As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Term of Loan (years) Annual Monthly PITI Amount Interest Monthly PI Property Annual Insurance Financed Rate Tax $124,700 6.75% 15 $2,370 $1,355 Prepare an amortization schedule for the first 3 payments (in $) of a $78,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.) Payment Number Monthly Payment Monthly Interest Portion Used to Reduce Principal Loan Balance $| $| 1 24 24 2 %24 Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Table Monthly Payment (in $) Term Number Total Amount Interest of $1,000s Financed of Loan Factor Interest Financed Rate (years) (in $) (in $) $162,300 7.25% 15 $ $ $
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Calculate the monthly principal and interest (PI), using Table 14-1 from your text, and the monthly PITI for the following mortgage, rounding to the nearest cent. Amount. Financed $122,500 Interest. Rate 10% Term of Loan 30 years Monthly PI Annual Property Tax $2,218 Annual Insurance $1,450 Monthly PITI
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 here
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