不 Rate % 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 9.0 9.5 Determine the monthly principal and interest payment for a 20-year mortgage when the amount financed is $245.000 and the annual percentage rate (APR) is 5.5% Monthly Principal and Interest Payment per $1000 of Mortgage Number of Years 20 The monthly principal and interest payment is (Round to the nearest cent as needed.) 10 15 25 $10.12451 $7.39688 $6.05980 $5.27837 $10.36384 $7.64993 $6.32649 $5.55832 $10.60555 $7.90794 $6.59956 $5.84590 $10.85263 $8.17083 $6.87867 $6.14087 $11.10205 $8.43857 $7.16431 $6.44301 $5.99551 $6.99215 $11.35480 $8.71107 $7.45573 $6.75207 $6.32068 $11.61065 $8.98828 $7.75299 $7.06779 $6.65302 $11.87018 $9.27012 $8.05593 $7.38991 $12.13276 $9.55652 $8.36440 $7.71816 $7.33765 $12.39857 $9.84740 $8.67823 $8.05227 $7.68913 $12.66758 $10.14267 $8.99726 $8.39196 $8.04623 $12.93976 $10.44225 $9.32131 $8.73697 $8.40854 Print Done Click here for table of Monthly Payments 30 54.77415 $5.06685 $5.36822 $5.67789

不 Rate % 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 8.0 8.5 9.0 9.5 Determine the monthly principal and interest payment for a 20-year mortgage when the amount financed is $245.000 and the annual percentage rate (APR) is 5.5% Monthly Principal and Interest Payment per $1000 of Mortgage Number of Years 20 The monthly principal and interest payment is (Round to the nearest cent as needed.) 10 15 25 $10.12451 $7.39688 $6.05980 $5.27837 $10.36384 $7.64993 $6.32649 $5.55832 $10.60555 $7.90794 $6.59956 $5.84590 $10.85263 $8.17083 $6.87867 $6.14087 $11.10205 $8.43857 $7.16431 $6.44301 $5.99551 $6.99215 $11.35480 $8.71107 $7.45573 $6.75207 $6.32068 $11.61065 $8.98828 $7.75299 $7.06779 $6.65302 $11.87018 $9.27012 $8.05593 $7.38991 $12.13276 $9.55652 $8.36440 $7.71816 $7.33765 $12.39857 $9.84740 $8.67823 $8.05227 $7.68913 $12.66758 $10.14267 $8.99726 $8.39196 $8.04623 $12.93976 $10.44225 $9.32131 $8.73697 $8.40854 Print Done Click here for table of Monthly Payments 30 54.77415 $5.06685 $5.36822 $5.67789

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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Determine the monthly principal and interest payment for a 20-year mortgage when the amount financed is $285,000 and the annual percentage rate (APR) is 4.0%. The monthly principal and interest payment is (Round to the nearest cent as needed.).
The Ruffins are negotiating with two banks for a mortgage to buy a house selling for $145,000. The terms at bank A are a 25% down payment, an interest rate of 10%, a 30-year conventional mortgage, and 3 points to be paid at the time of closing. The terms at bank B are a 15% down payment, an interest rate of 11.0%, a 25-year conventional mortgage, and no points. Which loan should the Ruffins select in order for the total cost of the house to be less? Click the icon to view the table of monthly payments. From which bank should the Ruffins take the loan? Bank B O Bank A
ezto.mi Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to rounding of percents in table lookup.). (Use 13% for table lookup.). (Use the loan amortization table) (Round your answers to the nearest cent.) Number of Total of monthly payments $5,849.76 Total finance monthly payments Amount Purchase price of a used car $5,793 Down charge $1,339.76 financed APR payment $1, 283 48 $4,510 13% Monthly Payment es By table By formula
Find the mortgage balance after the first three payments on a 3030-year $170,000$⁢170,000 mortgage that was financed at an APR of 4.25%4.25% and has a monthly payment of $836.30$⁢836.30. Payment Number Interest Payment Principal Payment Mortgage Balance 11 $602.08$⁢602.08 $234.22$⁢234.22 Balance 1 22 $601.25$⁢601.25 $235.05$⁢235.05 Balance 2 33 $600.42$⁢600.42 $235.88$⁢235.88 Balance 3
Based on Exhibit 7-7, what would be the monthly mortgage payments for each of the following situations? (Round your answers to 2 decimal places.) a. A $161,000, 15-year loan at 5.5 percent. b. A $216,000, 30-year loan at 6 percent. c. A $192,000, 20-year loan at 5.5 percent.
Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 259,873.20 2 1,167.34 539.24 628.10 259,245.10 3 1,167.34 With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan.
Amount of mortgage Annual interest rate Years in mortgage Monthly payment $405,643 5.00% 35 $2047.23 Month Monthly payment Interest Principal End-of-month principal 1 $2047.23 2 $2047.23
This amortization table shows the first 3 payments on a mortgage. Payment Monthly Interest PrincipalOutstanding number payment paid paid balance $160 000.00 $159 685.43 $159 369.08 $159 050.94 1 $1221.62$907.05 $314.57 $1221.62$905.26|$316.35 3 $1221.62$903.47 $318.14 In the amortization table, what percent of the first 3 payments is interest? O a) 74% O b) 26% O c) 33% d) 35%
Solve the problem. Monthly Payment per $1000 of Mortgage Interest 15-year rate loan 9.5% $10.45 10.0% 10.5% 11.0% 11.5% 12.0% 12.5% 13.0% Monthly Payment 25-year loan $8.73 $9.09 $9.45 20-year loan $9.33 $10.75 $9.66 $11.06 $9.99 $11.37 $10.33 $11.69 $10.66 $12.01 $11.01 $12.33 $12.66 $11.36 $11.72 $9.81 $10.16 $10.53 $10.90 $11.28 30-year loan $8.41 $8.78 $9.15 $9.531 $9.90 $10.29 $10.67 $11.06 Eugene Merzbacher obtains a 20-year, $102,550 mortgage at 11% on a house selling for $123,000. His monthly payment, including principal and interest, is $1058.32. How much of the first payment on the mortgage is applied to the principal?
Present value of an ordinary annuity. Fill in the missing present values in the following table for an ordinary annuity:
Question content area top Part 1 Make an amortization table to show the first two payments for the mortgage. Amount of mortgage Annual interest rate Years in mortgage Monthly payment $405,398 5.25% 35 $2111.08
Question7. Down payment Interest rate Terms Loan Amount 0 48 4% 4.12% 4.25% 4.75% Find the mortgage payment for the terms and interest rates given 100000 60 72 84

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