Marcel Thiessen purchased a home for $206,400 and obtained a 15-year, fixed-rate mortgage at 9% after paying a down payment of 10%. of the first month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answer to the nearest cent.) interest s153,378 applied to the principal $339,138

Marcel Thiessen purchased a home for $206,400 and obtained a 15-year, fixed-rate mortgage at 9% after paying a down payment of 10%. of the first month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answer to the nearest cent.) interest s153,378 applied to the principal $339,138

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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James has a mortgage of $92,500 at 4% for 20 years. The property taxes are $3,700 per year, and the hazard insurance premium is $764.50 per year. Find the monthly PITI payment (in $). (Round your answer to the nearest cent. Use this table as needed.)
Kristina has a mortgage of $575,000 through her bank for property purchased. The loan is repaid by end of month payments of $4,182.71 with an interest rate of 6.96% compounded monthly over 23 years. What is the interest included in the 39th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. %24
Juwen obtained a 25-year residential mortgage at 4.75% compounded semiannually for a 5-year term. If the initial loan was $381,500 how much will the monthly mortgage payments be?
Fatima received a $49,800 mortgage that is amortized over 6 years. She negotiated a fixed interest rate of 5.06% compounded semi-annually for the term with repayments made on a bi- weekly basis. a) Calculate the size of the payments (Round off to the nearest dollar). $ 8355.28 b) If the payments are rounded off to the nearest dollar, fill in the missing values of the partial amortization schedule below (All the other values are rounded off to two decimal places). Payment Number 0 1 2 155 156 Total Payment Amount PMT (S) S +A S Interest Portion INT ($) $ S SA SA Principal Portion PRN ($) $49,800 Loan Balance BAL ($) S $49,800 $0
A grocery store sells for $544,500 and a 5% down payment is made. A 15 -year mortgage at 7% is obtained. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $517,275 and the monthly payment is $4650.30 3 PARTS: Payments 1,2 & 3) tell me the interest, payment on principal & balance of loan for these next 3 payment schedule?
Victoria took out a fully amortizing 30-year mortgage with the initial balance of $196,869. This mortgage has a fixed interest rate of 3%. How much of Victoria's first monthly payment was attributable to principal? Write the answer as a number rounded to two decimals.
Trashia has a mortgage of $474,000 through her bank for property purchased. The loan is repaid by end of month payments of $2,839.48 with an interest rate of 4.8% compounded monthly over 23 years. What is the interest paid in the 7th year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places. P1 = P2 = Interest paid in 7th year = $ (enter a positive value)
Tom creates a 30-year mortgage of $150,000 with APR 5.6%, monthly paid. What is the percentage he pays for principal in the first month. Group of answer choices 86.68% 82.29% 13.32% 18.71
am. 113.
President LaForge recently purchased his first home in Cleveland, MS. The house has a 15-year, 165,000 mortgage. The mortgage has a nominal annual interest rate of 7.75%. All mortgage payments are made at the end of the month. What is the monthy payment on the mortgage? Group of answer choices $1,581.97 $1,322.78 $1,283.61 $1,065.63 $1,553.10
On September 1, the home mortgage balance was $262,000 for the home owned by Kim Thompson. The interest rate for the loan is 8 percent. Assuming that Kim makes the September monthly mortgage payment of $2620 , calculate the following: (a) The amount of interest included in the September payment (round your answer to the nearest cent). (b) The amount of the monthly mortgage payment that will be used to reduce the principal balance. (c) The new balance after Kim makes this monthly mortgage payment.
Craig Hammer purchased a new condominium for $225,000. The bank required a $30,000 down payment. Assuming a rate of 8% on a 25-year mortgage, Craig's monthly payment is (use the table in the handbook): Multiple Choice None of these $1,431.30 $1,505.40 $1,505.04 ) $1,413.30 acer

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