Complete the following amortization chart by using Table 15.1.Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent.Selling price of home: $198,000Down payment: $60,000Principal (loan): 138,000Rate of interest: 6.5%Years: 25Payment per $1,000: ???Monthly mortgage payment:????TABLE 15.1Amortization table (mortgage principal and interest per $1,000)RateInterest Only10 Year15 Year20 Year25 Year30 Year40 Year2.0000.166679.201356.435095.058834.238543.696193.028262.1250.177089.257436.492815.118254.299663.759023.094442.2500.187509.313746.550855.178084.361313.822463.161422.3750.197929.370266.609215.238344.423483.886533.229212.5000.208339.426996.667895.299034.486173.951213.297782.6250.218759.483946.726895.360144.549384.016513.367142.7500.229179.541106.786225.421664.613114.082413.437282.8750.239589.598486.845865.483614.677354.148923.508183.0000.250009.656076.905825.545984.742114.216043.579843.1250.260429.713886.966095.608764.807384.283753.652263.2500.270839.771907.026695.671964.873164.352063.725413.3750.281259.830147.087605.735574.939454.420963.799303.5000.291679.888597.148835.799605.006244.490453.873913.6250.302089.947257.210375.864045.073524.560513.949233.7500.3125010.006127.272225.928885.141314.631164.025263.8750.3229210.065217.334405.994145.209594.702374.101984.0000.3333310.124517.396886.059805.278374.774154.179384.1250.3437510.184037.459686.125875.347634.846504.257464.2500.3541710.243757.522786.192345.417384.919404.336204.3750.3645810.303697.586206.259225.487614.992854.415594.5000.3750010.363847.649936.326495.558325.066854.495634.6250.3854210.424207.713976.394175.629515.141404.576294.7500.3958310.484777.778326.462245.701175.216474.657584.8750.4062510.545567.842976.530705.773305.292084.739475.0000.4166710.606557.907946.599565.845905.368224.821975.1250.4270810.667767.973206.668815.918965.444874.905055.2500.4375010.729178.038786.738445.992485.522044.988705.3750.4479210.790798.104656.808476.066455.599715.072935.5000.4583310.852638.170836.878876.140875.677895.157705.6250.4687510.914678.237326.949666.215755.756565.243025.7500.4791710.976928.304107.020846.291065.835735.328885.8750.4895811.039388.371187.092386.366825.915385.415256.0000.5000011.102058.438577.164316.443015.995515.502146.1250.5104211.164938.506257.236616.519646.076115.589526.2500.5208311.228018.574237.309286.596696.157175.677406.3750.5312511.291308.642507.382326.674176.238705.765756.5000.5416711.354808.711077.455736.752076.320685.854576.6250.5520811.418508.779947.529506.830396.403115.943856.7500.5625011.482418.849097.603646.909126.485986.033576.8750.5729211.546538.918547.678146.988256.569296.123737.0000.5833311.610858.988287.752997.067796.653026.214317.1250.5937511.675379.058317.828207.147736.737196.305317.2500.6041711.740109.128637.903767.228076.821766.396727.3750.6145811.805049.199237.979677.308806.906756.488527.5000.0625011.870179.271018.055937.389916.992156.580717.6250.6354211.935529.341308.132547.471417.077946.673277.7500.6458312.001069.412768.209497.553297.164126.766207.8750.6562512.066819.484508.286777.635547.250696.859488.0000.6666712.132769.556528.364407.718167.337656.95312

Here, To Find: Part A. Payment per $1,000 =??? Part B. Monthly mortgage payment =????

Answered: Selling price of home: $198,000 Down…

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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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	4.01651	3.36714
2.750	0.22917	9.54110	6.78622	5.42166	4.61311	4.08241	3.43728
2.875	0.23958	9.59848	6.84586	5.48361	4.67735	4.14892	3.50818
3.000	0.25000	9.65607	6.90582	5.54598	4.74211	4.21604	3.57984
3.125	0.26042	9.71388	6.96609	5.60876	4.80738	4.28375	3.65226
3.250	0.27083	9.77190	7.02669	5.67196	4.87316	4.35206	3.72541
3.375	0.28125	9.83014	7.08760	5.73557	4.93945	4.42096	3.79930
3.500	0.29167	9.88859	7.14883	5.79960	5.00624	4.49045	3.87391
3.625	0.30208	9.94725	7.21037	5.86404	5.07352	4.56051	3.94923
3.750	0.31250	10.00612	7.27222	5.92888	5.14131	4.63116	4.02526
3.875	0.32292	10.06521	7.33440	5.99414	5.20959	4.70237	4.10198
4.000	0.33333	10.12451	7.39688	6.05980	5.27837	4.77415	4.17938
4.125	0.34375	10.18403	7.45968	6.12587	5.34763	4.84650	4.25746
4.250	0.35417	10.24375	7.52278	6.19234	5.41738	4.91940	4.33620
4.375	0.36458	10.30369	7.58620	6.25922	5.48761	4.99285	4.41559
4.500	0.37500	10.36384	7.64993	6.32649	5.55832	5.06685	4.49563
4.625	0.38542	10.42420	7.71397	6.39417	5.62951	5.14140	4.57629
4.750	0.39583	10.48477	7.77832	6.46224	5.70117	5.21647	4.65758
4.875	0.40625	10.54556	7.84297	6.53070	5.77330	5.29208	4.73947
5.000	0.41667	10.60655	7.90794	6.59956	5.84590	5.36822	4.82197
5.125	0.42708	10.66776	7.97320	6.66881	5.91896	5.44487	4.90505
5.250	0.43750	10.72917	8.03878	6.73844	5.99248	5.52204	4.98870
5.375	0.44792	10.79079	8.10465	6.80847	6.06645	5.59971	5.07293
5.500	0.45833	10.85263	8.17083	6.87887	6.14087	5.67789	5.15770
5.625	0.46875	10.91467	8.23732	6.94966	6.21575	5.75656	5.24302
5.750	0.47917	10.97692	8.30410	7.02084	6.29106	5.83573	5.32888
5.875	0.48958	11.03938	8.37118	7.09238	6.36682	5.91538	5.41525
6.000	0.50000	11.10205	8.43857	7.16431	6.44301	5.99551	5.50214
6.125	0.51042	11.16493	8.50625	7.23661	6.51964	6.07611	5.58952
6.250	0.52083	11.22801	8.57423	7.30928	6.59669	6.15717	5.67740
6.375	0.53125	11.29130	8.64250	7.38232	6.67417	6.23870	5.76575
6.500	0.54167	11.35480	8.71107	7.45573	6.75207	6.32068	5.85457
6.625	0.55208	11.41850	8.77994	7.52950	6.83039	6.40311	5.94385
6.750	0.56250	11.48241	8.84909	7.60364	6.90912	6.48598	6.03357
6.875	0.57292	11.54653	8.91854	7.67814	6.98825	6.56929	6.12373
7.000	0.58333	11.61085	8.98828	7.75299	7.06779	6.65302	6.21431
7.125	0.59375	11.67537	9.05831	7.82820	7.14773	6.73719	6.30531
7.250	0.60417	11.74010	9.12863	7.90376	7.22807	6.82176	6.39672
7.375	0.61458	11.80504	9.19923	7.97967	7.30880	6.90675	6.48852
7.500	0.06250	11.87017	9.27101	8.05593	7.38991	6.99215	6.58071
7.625	0.63542	11.93552	9.34130	8.13254	7.47141	7.07794	6.67327
7.750	0.64583	12.00106	9.41276	8.20949	7.55329	7.16412	6.76620
7.875	0.65625	12.06681	9.48450	8.28677	7.63554	7.25069	6.85948
8.000	0.66667	12.13276	9.55652	8.36440	7.71816	7.33765	6.95312

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Selling price of home: $198,000 Down payment: $60,000 Principal (loan): 138,000 Rate of interest: 6.5% Years: 25 Payment per $1,000: ??? Monthly mortgage payment:????

TABLE 15.1