lust show all your work (NEATLY) and place answer in the blank. Use 6 decimal places for the mortgage constant Purchase Price = $300,000 Interest rate= 12% Loan to value ratio = 85% Term: Monthly payments 30 years $255,000 5.3.738 % 2.0.01028 32,622.96 4.252,377.04 6.$245,466.15 79,533.85 8.$254,992.58 1. The loan is equal to: = LVR PP 0.85 x 300 000: $255,000 2. The monthly mortgage constant is equal to: - Monthly pint/Loan $2,6229/255,000=0.01028 3. The monthly payment is equal to: PV: -255.000 Rate (I): 12/12 1/ N=30×12= 360 Payment $21622.96 4, The amount of interest paid in the second payment is equal to: Imo endins balance * Interest ratellino) =(255,000-2622.9b)x=% = $252,377.04
lust show all your work (NEATLY) and place answer in the blank. Use 6 decimal places for the mortgage constant Purchase Price = $300,000 Interest rate= 12% Loan to value ratio = 85% Term: Monthly payments 30 years $255,000 5.3.738 % 2.0.01028 32,622.96 4.252,377.04 6.$245,466.15 79,533.85 8.$254,992.58 1. The loan is equal to: = LVR PP 0.85 x 300 000: $255,000 2. The monthly mortgage constant is equal to: - Monthly pint/Loan $2,6229/255,000=0.01028 3. The monthly payment is equal to: PV: -255.000 Rate (I): 12/12 1/ N=30×12= 360 Payment $21622.96 4, The amount of interest paid in the second payment is equal to: Imo endins balance * Interest ratellino) =(255,000-2622.9b)x=% = $252,377.04
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:Must show all your work (NEATLY) and place answer in the blank.
Use 6 decimal places for the mortgage constant
Loan to value ratio = 85%
Term: Monthly payments 30 years
5.3.738%
6.245.466.15
79,533.85
8.$254,992.58
Purchase Price = $300,000
Interest rate = 12%
1255,000
2.0.01028
32,622.96
4. 252,377.04
1. The loan is equal to: = LVR PP
0.85 x 300 000: $255.000
2. The monthly mortgage e constant is equal to:
$2,6229/255,000=0.01028
3. The monthly payment is equal to:
Pv=-255.000
Rate (I) = 12/12 1/
N=30×12= 360
= Monthly pint/Loan
Payment 2,622.96
4 The
4, The amount of interest paid in the second payment is equal to:
Imo endins balance x Interest ratelino)
= (255,000-2622.96) x 15% = $252,377.04
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