complete the following amortization chart by using table 15.1. (round your answers to the nearest cent.): Selling price of home: 78,000 Down payment: 4,000 Principal (loan): ?? Rate of interest: 5.5% Years: 30 Payment per 1,000: ?? Monthly mortgage payment: ??
complete the following amortization chart by using table 15.1. (round your answers to the nearest cent.): Selling price of home: 78,000 Down payment: 4,000 Principal (loan): ?? Rate of interest: 5.5% Years: 30 Payment per 1,000: ?? Monthly mortgage payment: ??
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
complete the following amortization chart by using table 15.1. (round your answers to the nearest cent.):
Selling price of home: 78,000
Down payment: 4,000
Principal (loan): ??
Rate of interest: 5.5%
Years: 30
Payment per 1,000: ??
Monthly mortgage payment: ??
![TABLE 15-1
Amortization table (mortgage principal and interest per $1,000)
INTEREST
Term
in years
3%
5%
51%
6%
64%
7%
8%
94%
10일%
7%
8%
9%
10%
11%
10
9.89
10.61
10.86
11.11
11.36
11.62
11.88
12.14
12.40
12.67
12.94
13.22
13.50
13.78
12
8.52
9.25
9.51
9.76
10.02
10.29
10.56
10.83
11.11
11.39
11.67
11.96
12.25
12.54
15
7.15
7.91
8.18
8.44
8.72
8.99
9.28
9.56
9.85
10.15
10.45
10.75
11.06
11.37
17
6.52
7.29
7.56
7.84
8.12
8.40
8.69
8.99
9.29
9.59
9.90
10.22
10.54
10.86
20
5.80
6.60
6.88
7.17
7.46
7.76
8.06
8.37
8.68
9.00
9.33
9.66
9.99
10.33
22
5.44
6.20
6.51
6.82
7.13
7.44
7.75
8.07
8.39
8.72
9.05
9.39
9.73
10.08
25
5.01
5.85
6.15
6.45
6.76
7.07
7.39
7.72
8.06
8.40
8.74
9.09
9.45
9.81
30
4.50
5.37
5.68
6.00
6.33
6.66
7.00
7.34
7.69
8.05
8.41
8.78
9.15
9.53
35
3.99
5.05
5.38
5.71
6.05
6.39
6.75
7.11
7.47
7.84
8.22
8.60
8.99
9.37](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff1767d10-d014-4778-9b0a-016b5dc1326c%2F236edee0-3dc5-410b-bd13-5eaaa5e3cc01%2F6k1nfk1_processed.jpeg&w=3840&q=75)
Transcribed Image Text:TABLE 15-1
Amortization table (mortgage principal and interest per $1,000)
INTEREST
Term
in years
3%
5%
51%
6%
64%
7%
8%
94%
10일%
7%
8%
9%
10%
11%
10
9.89
10.61
10.86
11.11
11.36
11.62
11.88
12.14
12.40
12.67
12.94
13.22
13.50
13.78
12
8.52
9.25
9.51
9.76
10.02
10.29
10.56
10.83
11.11
11.39
11.67
11.96
12.25
12.54
15
7.15
7.91
8.18
8.44
8.72
8.99
9.28
9.56
9.85
10.15
10.45
10.75
11.06
11.37
17
6.52
7.29
7.56
7.84
8.12
8.40
8.69
8.99
9.29
9.59
9.90
10.22
10.54
10.86
20
5.80
6.60
6.88
7.17
7.46
7.76
8.06
8.37
8.68
9.00
9.33
9.66
9.99
10.33
22
5.44
6.20
6.51
6.82
7.13
7.44
7.75
8.07
8.39
8.72
9.05
9.39
9.73
10.08
25
5.01
5.85
6.15
6.45
6.76
7.07
7.39
7.72
8.06
8.40
8.74
9.09
9.45
9.81
30
4.50
5.37
5.68
6.00
6.33
6.66
7.00
7.34
7.69
8.05
8.41
8.78
9.15
9.53
35
3.99
5.05
5.38
5.71
6.05
6.39
6.75
7.11
7.47
7.84
8.22
8.60
8.99
9.37
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