Prepare an amortization schedule for the mortgage of a house of 500,000 with 20% down payment. Interest rate is 5% compounded semiannually. The payments are done on monthly-basis for 2 years
Prepare an amortization schedule for the mortgage of a house of 500,000 with 20% down payment. Interest rate is 5% compounded semiannually. The payments are done on monthly-basis for 2 years
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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Please show all work, thanks.
![Prepare an amortization schedule for the mortgage of a house of 500,000 with 20% down payment.
Interest rate is 5% compounded semiannually. The payments are done on monthly-basis for 2 years
(A)
(B)
= Find PMT
(C)
' = Previous (E) x i
(D)
= (B) - (C)
Principal
Repaid
(E)
= previous (E) – (D)
Outstanding
Principal
Interest
Payment
number
Amount
paid
Paid
i=
Balance
1
2
3
4
6
7
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
ТОTALS
PV
N
I/Y
CPT PMT](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F16fb2659-7653-4723-9299-f0868952bf90%2Faa3af831-5e8c-43c1-ad7e-6c485a47241b%2Fa3jjgx_processed.png&w=3840&q=75)
Transcribed Image Text:Prepare an amortization schedule for the mortgage of a house of 500,000 with 20% down payment.
Interest rate is 5% compounded semiannually. The payments are done on monthly-basis for 2 years
(A)
(B)
= Find PMT
(C)
' = Previous (E) x i
(D)
= (B) - (C)
Principal
Repaid
(E)
= previous (E) – (D)
Outstanding
Principal
Interest
Payment
number
Amount
paid
Paid
i=
Balance
1
2
3
4
6
7
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
ТОTALS
PV
N
I/Y
CPT PMT
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