TVM Calculate the required monthly payments for: 1) a 30-year mortgage loan at an annual rate of 3.75%; and 2) a 15-year mortgage loan at an annual rate of 3.25%. Assume both mortgage loans are $100,000. 3) Which loan will have the lowest loan balance in exactly 5 years (60 months), and what is the balance?

TVM Calculate the required monthly payments for: 1) a 30-year mortgage loan at an annual rate of 3.75%; and 2) a 15-year mortgage loan at an annual rate of 3.25%. Assume both mortgage loans are $100,000. 3) Which loan will have the lowest loan balance in exactly 5 years (60 months), and what is the balance?

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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Consider a home mortgage of $17500 at a fixed APR of %6 for 15 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. Please show all work computaion explanation formulas clearly with steps
Consider a 30-year, 6% loan for $240,000 with fixed monthly payments. a) What will be the remaining mortgage balance after the first 6 years? b) How much of interest is to be paid over the first 6 years? c) How much of principal reduction is to take place over the first 6 years?
Consider a home mortgage of $125,000 at a fixed APR of 4.5% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. ..... a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
Please eolve this question on excell and show formulas please.
A floating rate mortgage loan is made for $120,000 for a 30-year period at an initial rate of 12 percent interest. However, the borrower and lender have negotiated a monthly payment of $960. Required: a. What will be the loan balance at the end of year 1? b. If the interest rate increases to 13 percent at the end of year 2, how much is the payment plus negative amortization in year 2 and year 5 if the payment remains at $960?
Consider a 30-year home mortgage of $100,000 at 6% per year. What is the monthly payment? Use Theorem 1 as attached to make an amortization schedule of the first 6 months: Month (k) Principal P(k) Interest I(k) Balance due B(k) 1 2 3 4 5 6 where P(k) is the amount paid to the principal in the k’th payment, I(k) is the amount paid to interest in the k’th payment, B(k) is the balance due after the k’th payment.
G. Find the interest rate (APR) on a 27-year mortgage with a initial loan amount of $358,000, if the monthly payment is $2229.45 Let's use references for input values; and be sure to annualize the rate! INPUTS: OUTPUT: Period Rate is APR Payment Loan amount
For a short-term cash requirement of 85,000 TL, a 12-month maturity loan with equal installments will be withdrawn from the bank. If the monthly interest rate is 1.75, prepare the loan payment table (loan amortization table) by finding the monthly payment amount.
A floating rate mortgage loan is made for $190,000 for a 30-year period at an initial rate of 12 percent interest. However, the borrower and lender have negotiated a monthly payment of $1,520. Required: a. What will be the loan balance at the end of year 1? b. If the interest rate increases to 13 percent at the end of year 2, how much is the payment plus negative amortization in year 2 and year 5 if the payment remains at $1,520?
You borrow $207,000 to be repaid in monthly installments over the next 25 years. The first payment occurs one month from today. If the annualized interest rate for the loan is3.4%, how much principal is amortized in payment #52? Enter your answer as a positive number, and round to the nearest dollar. Note:- Don't use Excel and chatgpt
suppose a 25- year mortgage of $400,000 at a fixed nominal interest rate of 3.5% per year, compounded annually. 1. what is the yearly payment? 2. what are the interest paid and the principal repayment in the first year?
A mortgage of P 90 000 is to be paid by annual payment over a period of 10 years. If the interest rate is 15.8% effective. a) calculate the annual payment; b) construct an amortization schedule; c) find the total payment made; d) find the total interest paid

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