The table on the right shows closing costs for a purchase of a $361,000 house requiringa 20% down payment.Title insurance premiumDocument recording feeLoan fee (3 points)Appraisal feeThe mortgage amount is $$225$30$225Prorated property taxes$653Prorated insurance premium$300

Mortgage amount means , THE ORIGINAL PRINCIPAL BALANCE OF THE MORTGAGE LOAN ( INCLUDING ANY MORTGAGE…

Answered: The table on the right shows closing…

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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A home is purchased for $229,000 with an amortized loan over 30 years at an interest rate of 4.6%. The payments on the loan will be $1,173.96. Complete the first three lines for an amortized loan schedule. Payment # Payment Interest 1 2 Principal Paid Extra Payment Balance After Payment
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 down payment principal (loan) Rate of interest years payment per $1,000 Monthly mortgage payment $160,000 $20,000 3 1/2% 30
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please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)
Solve only if you can answer all the parts of Q7
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Find the total monthly payment, including taxes and insurance. Mortgage $74,000 Interest Rate Term of Loan Annual Taxes 5% 15 years $596 Click the icon to view the Real Estate Amortization Table. The total monthly payment is $ (Round to the nearest cent as needed.) Annual Insurance $215
The sale of a Georgia home closes on March 15th. If the seller owes $45,300 on a mortgage against the home and the interest rate is 6.5%, what What, if any, is the amount of accrued interest paid? Select one: a. $333.66 b. $358.04 c. $456.35 d. $122.69
Complete the following amortization chart. (Round your answers to the nearest cent.) selling price of home $86,000; down payment $5,000; principal loan ______; rate of interest 6%; years 30; monthly mortgage payment _______
1 Find the total monthly payment, including taxes and insurance, for the following loan. Annual Annual Amount of Loan Term of Loan Taxes Insurance Interest Rate 1 6-% $149,500 10 years $2830 $655 Click the icon to view the real estate amortization table. Complete the table below. Amount of Loan $149,500 0 Interest Rate 1 6-% 2 Term of Loan W Annual Taxes $2830 F Monthly Payment Annual Insurance $655 10 years (Simplify your answer. Round to the nearest cent as needed.) Monthly Payment $
Q2. Complete the amortization schedule for the last three payments on a $500,000, 15-year, monthly-pay, 4.2% APR home mortgage. End of Beginning Monthly Month Balance Payment Principal Interest Ending Balance 178 $11,167.99 $3,748.75 $39.09 $3,709.66 $7,458.32 179 $7,458.32 $3,748.75 $26.10 $3,722.65 $3,735.68 180 $3,735.68 $3,748.75 $13.07 $3,735.68 $0.00
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The table on the right shows closing costs for a purchase of a $361,000 house requiring a 20% down payment. Title insurance premium Document recording fee Loan fee (3 points) Appraisal fee The mortgage amount is $ $225 $30 $225 Prorated property taxes $653 Prorated insurance premium $300