Tess purchased a house for $475,000, she made a down payment of 25.00% of the value of the house and recieved a mortgage for the rest of the amount at 6.42% compounded semi-anually amortized over 25 years. The interest rate was fixed for a 6 year period. A) calculate the monthly payment amount. (Round to the nearest cent) B) calculate the principal balance at the end of the 6 year term. (Round to the nearest cent) C) calculate the monthly payment amount if the mortgage was renewed for another 6 years at 5.72% compounded semi-anually. (Round to the nearest cent)
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- Sharapovich Inc. borrowed $50,000 from Kerber Bank and signed a 5-year note payable stating the interest rate was 5% compounded annually. Sharapovich Inc. will make payments of $11,548.74 at the end of each year. Prepare an amortization table showing the principal and interest in each payment.Nicholas purchased a house for $475,000. She made a down payment of 15.00% of the value of the house and received a mortgage for the rest of the amount at 7.02% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 3 year period. a. Calculate the monthly payment amount. $0.00 Round to the nearest cent b. Calculate the principal balance at the end of the 3 year term. $0.00 Round to the nearest cent c. Calculate the monthly payment amount if the mortgage was renewed for another 3 years at 5.32% compounded semi-annually? $0.00 Round to the nearest centBryan purchased a house for $500,000. She made a down payment of 15.00% of the value of the house and received a mortgage for the rest of the amount at 4.12% compounded semi-annually amortized over 25 years. The interest rate was fixed for a 5 year period. a. Calculate the monthly payment amount. $0.00 Round to the nearest cent b. Calculate the principal balance at the end of the 5 year term. $0.00 Round to the nearest cent c. Calculate the monthly payment amount if the mortgage was renewed for another 5 years at 5.82% compounded semi-annually? $0.00 چی Round to the nearest cent
- Casey purchased a house for $350,000. She made a down payment of 10.00% of the value of the house and received a mortgage for the rest of the amount at 6.82% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. $0.00 Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. $0.00 Round to the nearest cent c. Calculate the monthly payment amount if the mortgage was renewed for another 6 years at 5.82% compounded semi-annually? $0.00 Round to the nearest centScott purchased a house for $375,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 4.72% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 7 year period. a. Calculate the monthly payment amount. b. Calculate the principal balance at the end of the 7 year term. c. Calculate the monthly payment amount if the mortgage was renewed for another 7 years at 3.82% compounded semi-anually?Caleb purchased a house for $300,000. He made a down payment of 25.00% of the value of the house and received a mortgage for the rest of the amount at 5.82% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. Round to the nearest cent c. Calculate the monthly payment amount if the mortgage was renewed for another 6 years at 3.72% compounded semi-annually? Round to the nearest cent Give typing answer with explanation and conclusion
- Tara purchased a house for $475,000. She made a down payment of 30.00% of the value of the house and received a mortgage for the rest of the amount at 5.32% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 4 year period. a. Calculate the monthly payment amount. Round to the nearest cent b. Calculate the principal balance at the end of the 4 year term. Round to the nearest cent $0.00 Round to the nearest cent $0.00 c. Calculate the monthly payment amount if the mortgage was renewed for another 4 years at 6.32% compounded semi-annually? $0.00Cynthia purchased a house for $500,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 6.92% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 4 year period. a. Calculate the monthly payment amount.Brian purchased a house for $400,000. He made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 5.82% compounded semi-annually amortized over 25 years. The interest rate was fixed for a 4 year period. a. Calculate the monthly payment amount. $0.00 Roun to the nearest cent Show Transcribed Text b. Calculate the principal balance at the end of the 4 year term. $0.00 Round to the nearest cent
- Gregory purchased a house for $350,000. He made a down payment of 30.00% of the value of the house and received a mortgage for the rest of the amount at 4.72% compounded semi-annually amortized over 25 years. The interest rate was fixed for a 4 year period. a. Calculate the monthly payment amount. b. calculate the principal balance at the end of 4 year term c. calculate the montly payment if the mortgage was renewed for anotther 4 years at 4.12% compunded semiannually3. Scott purchased a house for $375,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 4.72% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 7 year period. a. Calculate the monthly payment amount. b. Calculate the principal balance at the end of the 7 year term. c. Calculate the monthly payment amount if the mortgage was renewed for another years at 3.82% compounded semi-annually? ROUND ALL ANSWERS TO THE NEAREST CENT USE EXCEL FOR PRECISE ANSWERSFatima 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