A mortgage for a condominium had a principal balance of $44,100 that had to beamortized over the remaining period of 5 years. The interest rate was fixed at 4.92%compounded semi-annually and payments were made monthly.a. Calculate the size of the payments.Round up to the next whole numberSUBMIT QUESTIONSAVE PROGRESSSUBMIT ASSIGNM12°C Partly sunnyENG b. If the monthly payments were set at $980, by how much would the time period ofthe mortgage shorten?year(s)monthsc. If the monthly payments were set at $980, calculate the size of the final payment.Round to the nearest centhpSUBMIT QUESTIONSAVE PROGRESS12°CA

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Answered: mortgage for a condominium had a…

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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Carry out the amortization table of an automobile loan that is canceled with 36 monthly payments of $ 5,750, at an interest rate of 25.20% per annum, compounded by months, to. Make the amortization table for this case that contains: payment, interest, payment to capital and unpaid balance. b. What is the unpaid balance after making payment number 15? c. What is the unpaid balance after making payment number 30?
Goal To use recursive sequence to determine the amount money owed on a loan after months Role You are a loan officer at a mortgage company. Audience Jim and Joan Miller are customers applying for a mortgage. Situation Jim and Joan Miller are borrowing $120,000 at 6.5% per annum compounded monthly for 30 years (360 months) to purchase a home. Their monthly payment is determined to be $758.48. Performance Task You need to present Jim and Joan with a report detailing the following: • Arecursive formula for their balance after each monthly payment has been made. • To do this, use the formula: a, = an-1 (1+r) – 758.48 A determination of Jim and Joan's balance after the first payment. Don't forget the interest affecting their payment! • Use a spreadsheet or graphing utility to create a table showing their balance after each monthly payment. • Determine when the balance will be below $75,000. • Determine when the balance will be paid off. • Determine the interest expense when the loan is…
Find the interest on the following loan. $1400 at 5.5% for 3 months Only typed solution.
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Amortization Table - Breaking Down Your Payment - No video This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the principle/interest portion of a loan payment at any given point in time. Be sure to use cell references. Initial Balance $10,000.00 Annual Interest Rate 10% Years 10 Annual Payemnt $1,627.45 Summary loan data for year 4 Balance at start of year Balance at end of year Interest paid during the year Principle paid during the year
IS in fo Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a living room set for $3,600 at 11% add-on interest for 3 years. % Need Help? Submit Answer Read It
You can earn $ 44 in interest on a $ 1 comma 000 deposit for eight months. If the EAR is the same regardless of the length of the investment, how much interest will you earn on a $ 1 comma 000 deposit for: a. 3 months. b. 1 year. c. 1.9 years. Question content area bottom Part 1 a. 3 -months. For a 3 -month, $ 1 comma 000 deposit you will earn $enter your response here . (Round to the nearest cent). Part 2 b. 1-year. For a 1-year, $ 1 comma 000 deposit you will earn $enter your response here . (Round to the nearest cent). Part 3 c. 1.9 -years. For a 1.9 -year, $ 1 comma 000 deposit you will earn $enter your response here . (Round to the nearest cent).
Pls help on this question. Pls show all steps and complete all parts pls I beg pls pls pls pls pls pls i beg.
arks Profiles Tab Window Help courses/78117/quizzes/195667/take The present value of an annuity of P5,000 payable at the end of each quarter for 9.5 years is P138,000. What is the nominal interest rate compounded quarterly? KER ONE The monthly rent for a one-bedroom apartment in MVP Tower is P10,000, payable at the beginning of the month. If the current interest rate is 12% compounded monthly, what would be the fair amount to charge someone if they wish to pay the one-year rent in advance today? Round off your answer to the nearest peso. 80 000 F4 F3 FS F6
Pls show full steps correct
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