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Solved in 3 steps
- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?K Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $407,292 5.50% 35 $2187.22 Monthly End-of-month Month Interest Principal payment principal 1 $2187.22 2 $2187.22 $ (Round to the nearest cent as needed.)Make an amortization table to show the first two payments for the mortgage. Amount of mortgage $401,995 Month 1 2 (Round to the Annual interest rate Years in mortgage Monthly payment 5.25% Monthly payment $2093.36 Interest $2093.36 est cent as needed.) $ 35 Principal $2093.36 End-of-month principal $
- Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $407,550 5.25% 35 $2122.29 Month Monthly payment Interest Principal End-of-month principal 1 $2122.29 $enter your response here $enter your response here $enter your response here 2 $2122.29 $enter your response here $enter your response here $enter your response hereMake an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $87,000 5.75% 25 $547.23Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $407,181 5.50% 35 $2186.63 Question content area bottom Part 1 Month Monthly payment Interest Principal End-of-month principal 1 $2186.63 $enter your response here $enter your response here $enter your response here 2 $2186.63 $enter your response here $enter your response here
- Using this table as needed, calculate the required information for the mortgage. AmountFinanced InterestRate Termof Loan(years) Numberof $1,000sFinanced TableFactor(in $) MonthlyPayment(in $) TotalInterest(in $) $89,500 8.00% 30 $ $ $Consider the first payment against a $200,000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below. Payment # Payment Interest 1 d 716.67 2 Debt Payment Balance P1 b₁Using this table as needed, calculate the required information for the mortgage. Number Table Monthly Payment (in $) Term Total Amount Interest of $1,000s Financed of Loan Factor Interest Financed Rate (years) (in $) (in $) $74,500 8.00% $| 30
- Make an amortization table to show the first two payments for the mortgage. Amount of mortgage $89,000 Month Annual interest rate Years in mortgage Monthly payment 5.50% Monthly payment $546.46 Interest 1 2 $546.46 (Round to the nearest cent as needed.) 25 Principal $546.46 End-of-month principalomplete the first month of the amortization schedule for the following fixed rate mortgage. Round the answer to the nearest cent. Mortgage: $79,000 Interest rate: 8.5% Term of loan: 15 years Amortization Schedule Payment Total Interest Principal Balance of Number Payment Payment Payment Principal 1 $777.94 (a) _____ (b) _____ (c) _____Compute the size of the final payment for the following loan. Principal $ Periodic Payment $ Payment Period Payment Made at: Interest Rate % Compounding Period 8100 520 3 months beginning 8 quarterly The size of the final payment is $_ .?