Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into Balance at end of month Selling price Down payment Amount mortgage Rate Years Monthly payment Interest Principal 24 155,000 $ 31,000 6.50 % 30
Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into Balance at end of month Selling price Down payment Amount mortgage Rate Years Monthly payment Interest Principal 24 155,000 $ 31,000 6.50 % 30
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
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Transcribed Image Text:Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.)
First Payment Broken Down Into
Down payment Amount mortgage
Monthly payment
Balance at end of
month
-
Selling price
Rate
Years
Interest
Principal
155,000 $
31,000
6.50 %
30
acer
%24
Transcribed Image Text:TABLE
15-1
Amortization table (mortgage principal and interest per $1,000)
INTEREST
Term
in years
3%
5%
51%
6%
6일%
7%
7%
8%
8%
9%
91%
10%
101%
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
976
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
P.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
acer
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