What amount of interest is paid in month 31 of a partially amortizing mortgage loan for...

What amount of interest is paid in month 31 of a partially amortizing mortgage loan for $200,000 at 8% interest for 20 years with an agreed-upon balloon payment of $40,000 at maturity? Enter your answer rounded to the nearest penny with no punctuation other than a decimal point.

Expert Solution

jeff jeffy answered 2 years ago

A fully amortizing mortgage loan is made for $90,000 for 15 years. The interest rate is...

A fully amortizing mortgage loan is made for $90,000 for 15 years. The interest rate is 6 percent per year compounding monthly. Payments are to be made monthly. What is the principal payment in the first monthly payment?

Assume a $270,000 fully amortizing mortgage loan, which accrues interest at a 7.5% interest rate, and...

Assume a $270,000 fully amortizing mortgage loan, which accrues interest at a 7.5% interest rate, and has a maturity of 25 years. Payments are monthly. What is the payoff of the loan in 12 years?

What are the major differences between the four CPM loans: Fully Amortizing: Partially Amortizing: Interest Only:...

What are the major differences between the four CPM loans: Fully Amortizing: Partially Amortizing: Interest Only: Negative Amortizing:

A fully amortizing mortgage loan is made for $200,000 at 6 percent interest for 30 years....

A fully amortizing mortgage loan is made for $200,000 at 6 percent interest for 30 years. Payments are to be made monthly. (Ignore origination fee and other fees). a. Using Excel, construct fully amortizing mortgage loan table including beginning balance, payment, interest, principal, and ending balance. (Please check your ending balance by using PV function in Excel) b. Interest and principal payments during month 1. c. Total Principal and total interest paid over 30 years. d. The outstanding loan balance...

What must be the end-of-the-month mortgage payment amount required to repay a loan of $52000 in...

What must be the end-of-the-month mortgage payment amount required to repay a loan of $52000 in 25 years? Assume k = 0.12 with monthly compounding. Round your final answer to 2 decimal places.

Given the following information, calculate the balloon payment for a partially amortized mortgage. Loan amount: $84,000,...

Given the following information, calculate the balloon payment for a partially amortized mortgage. Loan amount: $84,000, Term to maturity: 7 years, Amortization Term: 30 years, Interest rate: 4.5%, Monthly Payment: $425.62. $9,458 $30,620 $73,102 $84,000

Consider the following mortgage: Loan amount $376,038 30 year maturity with monthly payments Fully amortizing Fixed...

Consider the following mortgage: Loan amount $376,038 30 year maturity with monthly payments Fully amortizing Fixed interest rate at 5% Suppose the investors use 50% PSA model to predict prepayments. What would be their prediction for the dollar amount of prepayments in the first month? Round your answer to the nearest cent (e.g. if you answer is $1,400.677777, write 1400.68).

The following loan is fully amortizing. The loan is for $13,000 at 9% interest to be...

The following loan is fully amortizing. The loan is for $13,000 at 9% interest to be repaid over three (3) years. Amortize this loan on a monthly basis. Calculate the interest portion of the fourth (4th) payment considering that an additional payment of $2,000 was made with the second payment.

The following loan is fully amortizing. The loan is for $13,000 at 10% interest to be...

The following loan is fully amortizing. The loan is for $13,000 at 10% interest to be repaid over three (3) years. Amortize this loan on a monthly basis. Calculate the interest portion of the fourth (4th) payment considering that an additional payment of $2,000 was made with the second payment.

Amortizing Loan Assignment Excels: Loan Amount Term (years) Interest Rate Payment Frequency Punam Barua $500,000 25...

Amortizing Loan Assignment Excels: Loan Amount Term (years) Interest Rate Payment Frequency Punam Barua $500,000 25 3.50% monthly Militza Bodesinsky $9,500 3 25.00% monthly Rob Boucher $350,000 20 3.00% monthly Janice Coleman $1,000,000 15 2.50% monthly Sadiera Crawford $6,500 3 30.50% monthly Delitzel Cruz $750,000 20 4.00% monthly Eroldy Duverge $25,000 5 6.25% monthly Arlene Flores-Icaza $400,000 30 5.25% monthly John Gurcak $35,000 6 6.75% monthly George Juzdan $800,000 30 3.65% monthly Amani Katerji $10,000 3 30.00% monthly Shanay Leary...

Question