❌❌❌✅✅✅✅? DMonthly payments to Repay Principal and Interest on a $1000 mortgageTerm of Mortgage (years)(1)Annualrate(r)3.0%3.5%4.0%4.5%5.0%5.5%6.0%6.5%7.0%517.9686918.1917418.4165218.6430218.8712319.1011619.3328019.5661519.80120109.656079.8885910.1245110.3638410.6065510.8526311.1020511.3548011.61085156.905827.148837.396887.649937.907948.170838.438578.711078.98828205.545985.799606.059806.326496.599566.878877.164317.455737.75299254.742115.006245.278375.558325.845906.140876.443016.752077.06779304.216044.490454.774155.066855.368225.677895.995516.320686.65302403.579843.873914.179384.495634.821975.157705.502145.854576.21431 Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Use either the regular monthly payment formula orthe given table.Term25 yearsClick the icon to view the Real Estate Amortization Table.Loan Amount Interest Rate$211,7508.5%The monthly payment is $(Round to the nearest cent as needed.)C...

A mortgage refers to a covered loan that is borrowed to purchase a property with the property itself…

Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Use either the regular monthly payment formula or the given table. Loan Amount Interest Rate Term 25 years $211,750 8.5% Click the icon to view the Real Estate Amortization Table. The monthly payment is $. (Round to the nearest cent as needed.)

Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Use either the regular monthly payment formula or the given table. Loan Amount Interest Rate Term 25 years $211,750 8.5% Click the icon to view the Real Estate Amortization Table. The monthly payment is $. (Round to the nearest cent as needed.)

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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Use PMT formula on the image uploaded to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $150,000 20-year fixed-rate mortgage at 3.5%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. ______________________________________________________________ a. The monthly payment is $________.. (Do not round until the final answer. Then round to the nearest cent as needed.) - The total interest for the loan is $_______. (Use the answer from part a to find this answer. Round to the nearest cent as needed.) b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number Interest Principal Loan Balance 1 $ $ $ 2 $ $ $ 3 $ $ $ (Use the answer from part a to find these answers. Round to the…
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
complete the following amortization chart by using table 15.1. (round your answers to the nearest cent.): Selling price of home: 78,000 Down payment: 4,000 Principal (loan): ?? Rate of interest: 5.5% Years: 30 Payment per 1,000: ?? Monthly mortgage payment: ??
Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.) Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $181,000 $50,000 $1,156.59 7.0% 35 I need help working this problem out. Please explain in detail.
Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Use either the regular monthly payment formula or the given table. Loan Amount $95,000 Interest Rate Term 4.5% 20 years Click the icon to view the Real Estate Amortization Table. The monthly payment is $. (Round to the nearest cent as needed.) Enter your answer in the answer box. 07/51/71L Contact Bartleby 11:59pm Contact Research (Essays) Privacy 12/13/20 Trig Ch Section 5
Find the total monthly payment, including taxes and insurance, for the given mortgage loan using the table. Calculator answers may be slightly different. (Round your answer to the nearest cent.) Amount Rate Time(Years) AnnualTaxes AnnualInsurance $183,000 5 1 2 % 15 $3000 $900
Find the total monthly payment, including taxes and insurance, for the given mortgage loan using the table. Calculator answers might be slightly different. (Round your answers to the nearest cent.) Amount Rate Time(Years) AnnualTaxes AnnualInsurance $110,000 6% 30 $700 $360 STEP 1: Find the monthly taxes and insurance. taxes $ insurance $ STEP 2: Use the table to find the monthly payment.$ STEP 3: Add the monthly payment, taxes, and insurance.$
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) AmountFinanced InterestRate Termof Loan(years) Numberof $1,000sFinanced TableFactor(in $) MonthlyPayment(in $) TotalInterest(in $) $162,300 5.25% 15 ? $ ? $ ? $ ?
Use PMT = to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $120,000 20-year - nt 1- fixed-rate mortgage at 4%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. ..... a. The monthly payment is $ 727.18 . (Do not round until the final answer. Then round to the nearest cent as needed.) The total interest for the loan is $ . (Use the answer from part a to find this answer. Round to the nearest cent as needed.)
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: $198,000 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 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…
Suppose you purchase a home and obtain a 15-year fixed-rate loan of $195,000 at an annual interest rate of 6.0%. a) What is your monthly payment? N: months I %: P.V: $ PMT: $ F.V: 0 P/Y: 12 C/Y: 12 b) Of the first month's mortgage payment, how much is interest? HINT: I=Prt Interest: I=$ c) Of the first month's mortgage payment, how much is applied to the principal? HINT: PMT - Interest Amount Applied to Principal: $ d) How much is your outstanding balance after the first month’s payment? HINT: Principal - Amount Applied to Principal Outstanding Balance after first payment: $
The following loan is a simple interest amortized loan with monthly payments. $155,000, 9- 9-%, 30 years 2 (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $ (b) Find the total.interest for the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest | Enter a number.

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