Make an amortization table to show the first two payments for the mortgage.Amount ofAnnual interest rate Years in mortgage Monthly paymentmortgageS404,3565.00%35S2040.73MonthlypaymentEnd-of-monthMonthInterestPrincipalprincipal1$2040.732$2040.732$(Round to the nearest cent as needed.)

Interest = Opening End of month principal * rate per period Principal repayment = monthly payment -…

Make an amortization table to show the first two payments for the mortgage. Amount of Annual interest rate Years in mortgage Monthly payment mortgage $404,356 5.00% 35 S2040.73 Monthly payment End-of-month Month Interest Principal principal 1 $2040.73 2$ 2$ 2 $2040.73 (Round to the nearest cent as needed.)

Make an amortization table to show the first two payments for the mortgage. Amount of Annual interest rate Years in mortgage Monthly payment mortgage $404,356 5.00% 35 S2040.73 Monthly payment End-of-month Month Interest Principal principal 1 $2040.73 2$ 2$ 2 $2040.73 (Round to the nearest cent as needed.)

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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Calculate the monthly payments for each of the following $119,600 mortgage loans. Assume no prepayments. a. 30-year fixed at 7.25 percent b. 15-year fixed at 6.25 percent c. 20-year fixed at 6.75 percent Note: Round intermediate computations to at least five (5) decimal places. Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: a. The monthly payment, PMT, on the 30-year loan is $ (Round to the nearest cent.)
Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 79,000 $ 6,000 $ 73,000 6% 30 $ 5.9955 $ 437.67 Assume the interest rate rises to 7.5%. What is the total cost of interest with the new interest rate? (Use Table 15.1). Note: Round your intermediate calculations and final answer to the nearest cent. Total cost of interest: ????? The answer is NOT $110,753.57 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…
Calculate the total amount of interest dollars you will pay the bank over the life of the loan. Round to the nearest dollar and assume end-of-month payments. Table 6.2 The Loan Amortization Schedule for a $5,000 Loan at 10% to Be Repaid in Four Years Year Amount Owed on the Principal at the Beginning of the Year (1) Interest Portion Annuity Payment (2) of the Annuity = (1) x 10% = (3) 1 $5,000.00 1577.35 500 2 (1) Amount Owed (ii) PMT (III) Interest on the Principal at the Beginning Portion of the 2nd year of the Year 2 3 4 Repayment of the Principal Portion of the Annuity = (2) (3) (4) 1077.35 (iv) Repayment of the Principal Portion of the 2nd year Outstanding Loan Balance at Year End, After the Annuity Payment = (1)-(4) = (5) 3922.65 (v) Outstanding Loan Balance at Year 2 End, after the Annuity Payment Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 2000 b 6309 с 1309 d 500
omplete the first month of the amortization schedule for the following fixed rate mortgage. Round the answer to the nearest cent. Mortgage: $79,000 Interest rate: 8.5% Term of loan: 15 years Amortization Schedule Payment Total Interest Principal Balance of Number Payment Payment Payment Principal 1 $777.94 (a) _____ (b) _____ (c) _____
Given the following information on a 30-year fully-amortizing mortgage, use the amortization table function on your financial calculator to determine the portion of the monthly payment that goes to principal in 84th payment. Loan amount: $250.000; Annual interest rate: 6%; Monthly payment: $1,498.88.
Using this table as needed, calculate the required information for the mortgage. Number Table Total Monthly Payment (in $) Term Amount Interest of Loan of $1,000s Factor Interest Financed Rate (years) Financed (in $) (in $) $85,500 8.00% 30 %24 %24 %24
Q2. Complete the amortization schedule for the last three payments on a $500,000, 15-year, monthly-pay, 4.2% APR home mortgage. End of Beginning Monthly Month Balance Payment Principal Interest Ending Balance 178 $11,167.99 $3,748.75 $39.09 $3,709.66 $7,458.32 179 $7,458.32 $3,748.75 $26.10 $3,722.65 $3,735.68 180 $3,735.68 $3,748.75 $13.07 $3,735.68 $0.00
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Number Table Monthly Payment (in $) Term Total Amount Interest of Loan (years) of $1,000s Financed Factor Interest Financed Rate (in $) (in $) $165,300 5.25% 15 %24 %24 %24
If a mortgage has monthly payments of $1,288, a life of 20 years, and a rate of 4.70 percent per year, what is the mortgage amount? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Answer is complete but not entirely correct. 2,143.40 Mortgage amount
Given the following information of the mortgage pool that backs a MPT, what is the regular scheduled payment in month 1 of the security? Use WAC as the mortgage rate and WAM as the number of periods for your calculations. Round your final answer to two decimals. • 30 year FRM, fully amortizing, monthly payments • Loans seasoned for 3 months before entering pool • WAM: 357 • WAC: 4% • Servicer/Guarantee fee: 0.55% • Starting pool balance: 250,342,967 • Prepayment assumption: 75% PSA
FHA Mortgage Lender's Perspective Annual Rate Monthly Rate Term Years Term Months Price Percent Down Down Payment Mortgage Amount Monthly Payment Up Front MIP Up Front Cost Annual MIP Rate Monthly Rate Monthly MIP Marginal Tax Rate HomeAppreciation Rate Monthly Rate 1 Complote the input table 2 Complete the amortization table for the 15 -year mortgage 3 Complete Column L.
Examine the loan of $210,000, 15-year mortgage with an APR of 3.8%. The borrower paid an extra $100 each month towards the principal. Determine the ending balance after the first month? Payment Beginning Monthly Extra Balance Number Payment Payment 1 210,000.00 a. 100.00 2 b. a. 100.00 3 208,351.69 a. 100.00 4 207,521.35 a. 100.00 5 206,686.86 a. 100.00 Towards Towards Interest Principal 1,050.00 1,045.89 d. 1,037.61 1,033.43 Ending Balance 822.10 209,177.90 826.21 830.34 e. 838.67 C. 207,521.35 206,686.86 205,848.19

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