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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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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- 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 69 $ 82,000 $ 6,000 5.0 % 30 30Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.) Selling price of home Principal (loan) Payment per $1,000 Monthly mortgage payment Rate of Down payment Years interest 182,000 60,000 6.5 % 35 Σ %24 %24Complete 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…
- 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 $180,000 $40,000 7.5 % 35Complete 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 75,000 $ Principal (loan) 4,000 $ 71,000.00 Rate of interest 5.5 % Years 30 Payment per $1,000 Monthly Martege Payment rComplete 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.
- 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 $160,000 $20,000 3 1/2% 30 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 0.25000 9.65607…Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 79,000 $ 6,000 $ 73,000 6% 30 $ 5.9955 $ 437.67 Assume the interest rate rises to 7.5%. 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. Total cost of interest: ????? The answer is NOT $110,753.57 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…Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 79,000 $ 6,000 $ 73,000 6% 30 $ 5.9955 $ 437.67 Assume the interest rate rises to 7.5%. 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. Total cost of interest:???
- 18 .Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 90,000 $ 5,000 $ 85,000 5 1/2% 30 $ 5.67789 $ 482.62 What is the total cost of interest? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Total cost of interest:???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.Use the following amortization chart: Selling price of home Down payment $ 5,000 Rate of Monthly mortgage Principal (loan) $78,000 Payment per $1,000 $ 5.37 interest Years payment $ 83,000 5% 30 $418.86 Assume the interest rate rises to 6.5%. What is the total cost of interest with the new interest rate? (Use Table 15.1.) (Do not round intermediate calculations. Round your final answer to the nearest cent.) Total cost of interest TABLE 15-1 Amortization table (mortgage principal and interest per $1.000) INTEREST Term In years 31% 5% 51% 6% 6% 7% 7% 8% 81% 9% 10% 10% 11% 10 9.89 10.61 10.86 11.11 11.36 11.62 1.88 12.14 12.40 12.67 12.94 13.22 13.50 13.78 12 8.52 9.25 951 976 10.02 10.29 10,56 10.83 11.11 11.39 11.67 11.06 12.25 12.54 15 7.15 7.91 8.18 8.44 8.72 8.99 9.28 9.56 9.85 10.15 10.45 10.75 11.06 1137 17 6.52 7.29 P.56 7.84 8.12 8.40 8.69 8.99 9.29 9.59 9.90 10.22 10.54 10.86 20 5.80 6.60 6.88 7.17 7.46 7.76 8.06 8.37 8,68 9.00 9.33 9.66 9.99 10.33 22 5.44 6.20 6.51 6.82 7.13…