Complete the following table, which shows the monthly payments on a $100,000, 30-year mortgage at the interest rat shown. Use this information to answer the following questions. (Round your answers to the nearest cent.) Amount of Mortgage ($) 100,000 100,000 100,000 100,000 100,000 100,000 $ Interest Rate (%) 3 4 5 6 7 8 Monthly Payment ($) 421.60 733.76 (a) What is the difference in monthly payments between a $100,000, 30-year mortgage secured at 7%/year and one secured at 3%/year? (b) Use the table to calculate the monthly mortgage payments on a $130,000 mortgage at 4%/year over 30 years. $ Use the table to calculate the monthly mortgage payments on a $80,000 mortgage at 4% / year over 30 years. $

Complete the following table, which shows the monthly payments on a $100,000, 30-year mortgage at the interest rat shown. Use this information to answer the following questions. (Round your answers to the nearest cent.) Amount of Mortgage ($) 100,000 100,000 100,000 100,000 100,000 100,000 $ Interest Rate (%) 3 4 5 6 7 8 Monthly Payment ($) 421.60 733.76 (a) What is the difference in monthly payments between a $100,000, 30-year mortgage secured at 7%/year and one secured at 3%/year? (b) Use the table to calculate the monthly mortgage payments on a $130,000 mortgage at 4%/year over 30 years. $ Use the table to calculate the monthly mortgage payments on a $80,000 mortgage at 4% / year over 30 years. $

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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Based on Exhibit 7-7, what would be the monthly mortgage payments for each of the following situations? (Round your answers to 2 decimal places.) a A $160.000, 15-year loan at 4.5 percent. b. A $215,000, 30-year loan at 5 percent. c. A $190,000, 20-year loan at 6 percent. +
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Table Factor (in $) Amount Interest Financed Rate $165,300 5.25% Term of Loan (years) 15 Interest Rate (%) 3.50 3.75 4.00 4.25 4.50 4.75 5.00 5.25 5.50 5.75 6.00 6.25 6.50 6.75 Number of $1,000s Financed 165.30 7.00 7.25 7.50 7.75 8.00 8.25 8.50 8.75 9.00 9.25 9.50 9.75 10.00 10.25 10.50 10.75 11.00 11.25 11.50 11.75 12.00 12.25 12.50 12.75 13.00 Years 18.19 18.30 18.42 18.53 18.64 18.76 18.87 18.99 19.10 19.22 19.33 Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments (Necessary to amortize a loan of $1,000) 19.68 19.80 19.92 20.04 20.16 20.28 20.40 20.52 20.64 20.76 20.88 21.00 21.12 21.25 21.37 21.49 21.62 $8.04 21.74 21.87 21.99 22,12 22,24 22.37 22.50 22.63 22.75 Years 9.89 10.01 10.12 10.24 10.36 10.48 10.61 10.73 10.85 10.98 11.10 11.23 11.35 11.48 11.61 11.74 11.87 12.00 12.13 12.40 12.53 12.67 12.80 12.94 13.08…
Complete the following table: (Use Table 15.1.) Note: Do not round intermediate calculations. Round your answers to the nearest cent. Selling price down payment amount mortgage rate years Monthly paymeny First payment broken down to interest first payment broken down to principal Balance at end of month $236,000 $47,200 7.00% 15 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…
Using this table as needed, calculate the required information for the mortgage. Amount Interest Financed Rate $88,500 8.00% Need Help? Read It Submit Answer Term of Loan (years) 30 Number of $1,000s Financed 88.5 Table Factor (in $) 7.34 Monthly Payment (in $) X LA Total Interest (in $) X
Please explain each step, step by step
Using this table as needed, calculate the required information for the mortgage. Number Table Monthly Payment (in $) Term Total Amount Interest of Loan of $1,000s Financed Factor Interest Financed Rate (years) (in $) (in $) $78,500 8.00% 30
PLEASEEE THNAKS
setting the appropriate values for a $100,000, 30-year mortgage at 6% interest and using Excel's autofill (drag) feature to fill in the cells to the end of the mortgage period. Use this to answer the following: How much of the first payment goes towards the principal? Interest?
Using this table as needed, calculate the required information for the mortgage. AmountFinanced InterestRate Termof Loan(years) Numberof $1,000sFinanced TableFactor(in $) MonthlyPayment(in $) TotalInterest(in $) $89,500 8.00% 30 $ $ $
Based on Exhibit 7-8, what would be the monthly mortgage payments for each of the following situations? (Round mortgage payment factors and final answers to 2 decimal places. Omit the "$" sign in your response.) a) A $123,000, 15-year loan at 6.0 percent APR compounded semi - annually b) A $165, 000, 25- year loan at 7.5 percent APR compounded semi- annually c) A $68, 000, 20-year loan at 7.5 percent APR compounded semi - annually.
Use chart
Suppose you earn a gross income of $2,710.00 per month and apply for a mortgage with a monthly PITI of $501.35. You have other financial obligations totaling $428.18 per month. If the lending ratio guidelines are as given in the table below, what type of mortgage, if any, would you qualify for? Mortgage Type Housing Expense Ratio Total Obligations Ratio FHA 29% 41% Conventional 28% 36% O FHA only O Conventional only O FHA and Conventional O None of the above

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