For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $149,000 with a fixed APR of 3% for 30 years. Fill out the table. End of... Month 1 (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Interest Payment Toward Principal New Principal

For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $149,000 with a fixed APR of 3% for 30 years. Fill out the table. End of... Month 1 (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Interest Payment Toward Principal New Principal

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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The interest rate on a $57,000 loan is 10.4% compounded semiannually. Quarterly payments will pay off the loan in fifteen years. (Do not round intermediate calculations and round your final answers to 2 decimal places.) a. Calculate the interest component of Payment 13. Interest b. Calculate the principal component of Payment 50. Principal c. Calculate the total interest in Payments 39 to 50 inclusive. Total interest $ d. Calculate the reduction of principal in Year 4. Principal reduction %24 %24
4. Establish loan amortization schedules for 3-year loan of $20,000 (initial loan) with equal payments at the end of each year. The interest rate is 5 percent per year. i NOTE: PLEASE SHOW HOW YOU COMPUTE EACH OF THE ITEMS.
A loan is repaid with payments of $2560 made at the end of each month for 13 years. If interest on the loan is 14.5%, compounded semi-annually, what is the initial value of the loan? Enter to the nearest cent (two decimals). Do not use $ signs or commas. Answer: NEXT PAGE
Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. Twenty-year mortgage for $280,000 at 3.78%; remaining balance after 12 years.
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Complete the following from the first three lines of an amortization schedule for the following loan:You borrow $ 165000 with an annual interest rate of 7.5% over 15 years Starting principal = $ 165000New balance after month 1 payment = New balance after month 2 payment = New balance after month 3 payment =
Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Principal $7,000 Interest rate 13% ... The amount of the equal, annual, end-of-year payment, CF, is $ Term of loan (years) 29 (Round to the nearest cent.)
Create the amortization schedule for a loan of $4,000, paid monthly over two years using an APR of 9 percent. Enter the date for the first three months. (Round your answer to 2 decimal places.)
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Complete the following from the first three lines of an amortization schedule for the following loan:You borrow $ 210000 with an annual interest rate of 6.25% over 20 years Starting principal = $ 210000New balance after month 1 payment = New balance after month 2 payment = New balance after month 3 payment =
Prepare an amortization schedule for a five-year loan of $47,000. The interest rate is 7% per year, and the loan calls for equal annual payments. (Do not round intermediate calculations. Enter all amount as positive value. Round the final answers to 2 decimal places. Leave no cells blank - be certain to enter "O" wherever required.) Year 1 Beginning Balance $ 2 2 3 4 5 Total Payment $ Interest Payment Principal Payment Ending Balance $ How much interest is paid in the third year? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Interest paid $ How much total interest is paid over the life of the loan? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Total interest $
What are the repayment schedules for each of the following five-year, 9 percent $11,000 term loans? Use Appendix D to answer the questions. Do not leave any cells blank. If the answer is zero, enter "0". Do not round intermediate calculations. A. Equal annual payments that amortize (retire) the principal and pay the interest owed on the declining balance. Round your answers to the nearest cent. Balance Interest Principal Year payment repayment on loan $ $ $ $ $ 1 2 3 4 5 $ $ $ $ $ Interest Principal Balance Year payment repayment on loan 1 $ $ 2 is B. Equal annual principal repayment, with interest calculated on the remaining balance owned. Round your answers to the nearest dollar. $ $ 3 $ $ $ 4 5 es $ $ $ $ $ $ $ $ $ $ $ $ $

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