A house sells for $227,500 and a 7% down payment is made. A mortgage is secured at 7% for 40 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $211.575 and the monthly payment is $1313.88.
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- A house sells for $554,500 and a 7% down payment is made. A mortgage is secured at 6% for 35 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $515,685 and the monthly payment is $2939.40. Part 1 of 3 Payment number Interest Payment on Principal Balance of Loan 1 $ $ $ Part 2 of 3 Payment number Interest Payment on Principal Balance of Loan 2 $ $ $ Part 3 of 3 Payment number Interest Payment on Principal Balance of Loan 3 $ $ $A house sells for $309,500 and a 4% down payment is made. A mortgage is secured at 4% for 20 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $297,120 and the monthly payment is $1800.55 . Part: 0 / 3 0 of 3 Parts Complete Part 1 of 3 Payment number Interest Payment on Principal Balance of Loan 1 $ $ $ Procedure for Computing an Amortization Schedule Step 1 Find the interest for the first month. Use =IPrt , where =t112 . Enter this value in a column labeled Interest. Step 2 Subtract the interest from the monthly payment to get the amount paid on the principal. Enter this amount in a column labeled Payment on Principal. Step 3 Subtract the amount of the payment on principal found in step 2 from the principal to…A grocery store sells for $544,500 and a 5% down payment is made. A 15 -year mortgage at 7% is obtained. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $517,275 and the monthly payment is $4650.30 . Part: 0 / 3 0 of 3 Parts Complete Part 1 of 3 Payment number Interest Payment on Principal Balance of Loan 1 $ $ $ Procedure for Computing an Amortization Schedule Step 1 Find the interest for the first month. Use =IPrt , where =t112 . Enter this value in a column labeled Interest. Step 2 Subtract the interest from the monthly payment to get the amount paid on the principal. Enter this amount in a column labeled Payment on Principal. Step 3 Subtract the amount of the payment on principal found in step 2…
- A house sells for $317,000 and a 5% down payment is made. A mortgage is secured at 4% for 40 years. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $301,150 and the monthly payment is $1258.81.A house sels for $35K,500 and a 5% down payment is made. A mortgage is secured at 7% for 35 years. Compute an amortization schedule for the first 3 months Round your answens to two decimal places, necessary The value of the mortgage is $340,575 and the monthly payment is $2176.27. Part: 0/3 Part i of Payment number Interest Payment on Prindpal Balance of LeanA house sells for $155,000 and a 20% down payment is made. A mortgage was secured at 3% for 30 years. Round to the nearest cent, if necessary. Part: 0 / 4 0 of 4 Parts Complete Part 1 of 4 Find the down payment. The down payment is $ . (b) Find the amont of the mortgage. (c) Find the monthly payment ( d) Find the total interest paid
- 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.A grocery store sells for $544,500 and a 5% down payment is made. A 15 -year mortgage at 7% is obtained. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $517,275 and the monthly payment is $4650.30 3 PARTS: Payments 1,2 & 3) tell me the interest, payment on principal & balance of loan for these next 3 payment schedule?A grocery store sells for $189,500 and a 10% down payment is made. A 40-year mortgage at 7% is obtained. Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary.The value of the mortgage is $170,550 and the monthly payment is $1059.12
- A fully amortizing mortgage loan is made for $84,000 at 6 percent interest for 25 years. Payments are to be made monthly. Required: a. Calculate monthly payments. b. Calculate interest and principal payments during month 1. c. Calculate total principal and total interest paid over 25 years. d. Calculate the outstanding loan balance if the loan is repaid at the end of year 10. e. Calculate total monthly interest and principal payments through year 10. f. What would the breakdown of interest and principal be during month 50?A grocery store sells for $346,500 and a 5% down payment is made. A 15-year mortgage at 4% is obtained Compute an amortization schedule for the first 3 months. Round your answers to two decimal places, if necessary. The value of the mortgage is $329,175 and the monthly payment is $2435.90. Part: 0/3 Part 1 of 3 Payment number Interest Payment on Principal Balance of LoanA mortgage of $26, 252.00 is to be repaid by making payments of $ 1368.00 at the end of each year. If interest is 5% compounded annually, what is the term of the mortgage? State your answer in years and months ( from 0 to 11 months). The term is □ year(s) and month(s).
