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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2. A mortgage has the following terms: Amount: $750,000 Rate: 6.25% Amortization (Years): 30 Term (Years): 20 Please determine the following: A. What is the Monthly Payment? B. In preparing an Income Statement, what is the Interest Expense for years 1-5? C. What is the Principal Balance at the end of year 6? D. What is the value of the loan at the expiration? E. If rates remain constant (flat), what would the benefit be to refinance this loan after year 10?
What is the total interest paid on a for $200,000 loan with 30 year mortgage at 7% annual. Assume that the mortgage is kept for the full .30 years $28,300,000 O $28,300 O $283,000 O $2830 O
Amount of mortgage Annual interest rate Years in mortgage Monthly payment $86,000 6.00% 25 $553.84 Month Monthly payment Interest Principal End-of-month principal 1 $553.84 2 $553.84 (Round to the nearest cent as needed.)
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As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Term of Loan (years) Annual Monthly PITI Amount Interest Monthly PI Property Annual Insurance Financed Rate Tax $124,700 6.75% 15 $2,370 $1,355 Prepare an amortization schedule for the first 3 payments (in $) of a $78,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.) Payment Number Monthly Payment Monthly Interest Portion Used to Reduce Principal Loan Balance $| $| 1 24 24 2 %24 Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Table Monthly Payment (in $) Term Number Total Amount Interest of $1,000s Financed of Loan Factor Interest Financed Rate (years) (in $) (in $) $162,300 7.25% 15 $ $ $
Calculate the monthly principal and interest (PI), using Table 14-1 from your text, and the monthly PITI for the following mortgage, rounding to the nearest cent. Amount. Financed $122,500 Interest. Rate 10% Term of Loan 30 years Monthly PI Annual Property Tax $2,218 Annual Insurance $1,450 Monthly PITI
Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $407,550 5.25% 35 $2122.29 Month Monthly payment Interest Principal End-of-month principal 1 $2122.29 $enter your response here $enter your response here $enter your response here 2 $2122.29 $enter your response here $enter your response here $enter your response here
assume a 30-year $200,000 mortgage loan with an apr of 7%. what is the amount of interest and principal, respectively applied from the first annual fixed payment? a) $7,000; $133.33 b)$133.33; $7,000 c)$14,000; $2,177.28 d) $2,177.28; $14,000
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