Use the following amortization chart: Selling price of home $ 96,000 Down payment $ 5,000 Rate of Principal (loan) interest $ 91,000 5.5% Total cost of interest Years Payment per $1,000 $5.6779 30 Monthly mortgage payment $516.69 Assume the interest rate rises to 7.0%. What is the total cost of interest with the new interest rate? (Use Table 15.1). Note: Round your intermediate calculations and final answer to the nearest cent.

Use the following amortization chart: Selling price of home $ 96,000 Down payment $ 5,000 Rate of Principal (loan) interest $ 91,000 5.5% Total cost of interest Years Payment per $1,000 $5.6779 30 Monthly mortgage payment $516.69 Assume the interest rate rises to 7.0%. What is the total cost of interest with the new interest rate? (Use Table 15.1). Note: Round your intermediate calculations and final answer to the nearest cent.

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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FRM. (Term=30 years, Note Rate = 5.25, Loan Amount = 800,000, Points=2) What is the FTL annual percentage rate (FTLAPR) that the lender must disclose to the borrower? O 5.375% ○ 4.750% O 4.875% O 7.000% O 6.905% O 7.011%
Vijay
Correct pls thNks
Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 95,000 $ 6,000 $ 89,000 6.0% 30 $ 5.9955 $ 533.60 What is the total cost of interest? Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar. I know that the total cost of interest is NOT $135,280. Thats the answer I keep getting.
Please help correctly
Determine the monthly payment for the installment loan. Use the installment payment formula m = 1- Amount Financed (P) $1,440 O A. $179.15 B. $35.15 O C. $125.26 O D. $366.02 P n 1+) - not Annual Percentage Rate (r) 8% Number of Payments per Year (n) 12 Time in Years (t) 4
I need help with this problem
Given the following loan information: Annual loan payment = $47,100 Number of remaining periods = 6 Interest rate = 12% What is the book value of the loan?
5 1/2 interest rate for 30 years is 5.67789
Consider a loan of $8,000 charging interest at j12-6% with monthly payments of $321.50 Calculate the missing amounts in the amortization table. Place the value for A in the first answer box, B in the second and C in the third. PMT Interest Principall Balance 8,000.00 1321.50 40.00 281.50 7,718.50 2 321.50 A C
Assume we have a $500,000 mortgage at a 3.5% original interest rate, 30-year term, and monthly payments. The interest rate can be adjusted at the end of each year, and we assume the rate increases by 0.25% after the first year. What is the monthly payment for the 4th year of the loan? O 2,418,25 O 2,448,03 O 2,455,81 None of the given answers O2,481,25
Use the amortization table to determine how much interest is paid in the first 4 months of the loan. Click the icon to view the amortization table. $ (Type an integer or a decimal.) Amortization Table Payment Number 0 1 2 3 4 5 6 7 8 9 10 11 12 Amortization Table Amount of Payment $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.13 Print Interest for Period $12.50 $11.49 $10.47 $9.44 $8.42 $7.38 $6.34 $5.30 $4.25 $3.20 $2.14 $1.07 Portion to Principal $202.67 $203.68 $204.70 $205.73 $206.75 $207.79 $208.83 $209.87 $210.92 $211.97 $213.03 $214.06 Done Principal at End of Period $2500.00 $2297.33 $2093.65 $1888.95 $1683.22 $1476.47 $1268.68 $1059.85 $849.98 $639.06 $427.09 $214.06 $0.00

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