Complete the following table: Selling price $231,000, Down payment $46,200, Amount mortgage $184,800, Rate 7.00%, Years 15, Monthly payment $1,661.35. What is the interest and principal on first payment? What is the balance at end of month?
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Complete the following table: Selling price $231,000, Down payment $46,200, Amount mortgage $184,800, Rate 7.00%, Years 15, Monthly payment $1,661.35. What is the interest and principal on first payment? What is the balance at end of month?
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- A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into— Selling price Down payment Amount mortgage Rate Years Monthly payment Interest Principal Balance at end of month $221,000 $44,200 7.00 % 15Complete the following table by using Table 15.1. (Do not round intermediate calculations. Round your answers to the nearest cent.): Selling price: $237,000 Down payment: $47,400 Amount mortgage: ?? Rate: 6.00% Years: 15 Monthly payment: ?? First payment broken down into-- Interest: ?? Principal: ?? Balance at end of month: ??
- Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into— First Payment Broken Down Into— Selling price Down payment Amount mortgage Rate Years Monthly payment Interest Principal Balance at end of month $152,000 $31,000 6.50% 30Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) Selling price Down payment Amount mortgage Rate Years Monthly payment First Payment Broken Down Into— Interest & Principle Balance at end of month $241,000 $48,200 6.00% 15Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.)
- Complete the following table by using Table 15.1. ( Do not round intermediate calculations.Round your answers to the nearest cent.): Selling price: $158,000 Down payment: $31,000 Amount mortgage: ?? Rate: 6.50% Years: 30 Monthly payment: ?? First payment broken down into-- interest: ?? principle:?? Balance at end of month: ??Determine A) Determine the monthly interest rate i charged by Coco-me-Loan B) How much is the principal repaid during the 4th month? C) What is the principal loan balance after 7th monthly amortization payment?Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table. (Round dollar amounts to the nearest cent.) AmountFinanced Number ofPayments MonthlyPayment FinanceCharge Finance Chargeper $100 APR $17,950 48 $551.47 $ $ %
- The following loan was paid in full before its due date a) Find the value of h using an appropriate formula b) Use the actuarial method to find the amount of unearned interest c) Find the payoff amount Regular Monthly Payment # of Payments Remaining after Payoff APR 7.2% $247 8 What is the finance charge per $100 financed? h=$ (Round to the nearest cent)Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Finance Charge per $100 Amount Number of Monthly Payments Finance APR Financed Payment Charge $17,950 48 $561.47 $Calculate the finance charge (in $), the finance charge per $100 (in $), and the annual percentage rate for the installment loan by using the APR table, Table 13-1. (Round dollar amounts to the nearest cent.) Amount Number of Financed Payments $17,950 48 Monthly Payment $532.47 Finance Charge $7176.56 X Finance Charge per $100 $39.98 X 17.59 APR X %