Question

In: Finance

You borrow $400,000 over a 20​ year term. The loan is structured as an amortized loan...

You borrow $400,000 over a 20​ year term. The loan is structured as an amortized loan with annual payments and an interest rate of 8​%. Complete the cells in the amortization schedule below.

Year

Payment​ ($)

Interest in Payment​ ($)

Principal

Repaid​ ($)

Principal Owing at End of Year​ ($)

1

2

Solutions

Expert Solution

jeff jeffy answered 2 years ago
Next > < Previous

Related Solutions

You borrow ​$400,000 over a 20​ year term. The loan is structured as an amortized loan...
You borrow ​$400,000 over a 20​ year term. The loan is structured as an amortized loan with annual payments and an interest rate of 8​%. Complete the cells in the amortization schedule below. Year Payment​ ($) Interest in Payment​ ($) Principal Repaid​ ($) Principal Owing at End of Year​ ($) 1 2
You signed on an amortized loan. Under the loan, you will borrow $1000 at an annual...
You signed on an amortized loan. Under the loan, you will borrow $1000 at an annual rate of 6% for 3 years. Lets generate an amortized loan table showing payment scheduling. To generate the amortized loan table, we need to understand a same amount of payment (composed of interest charge and principal). Using PV of Ordinary Annuity equation, we can calculate an annual payment. C = 374.11. At the 1st year, you are required to pay 374.11. Out of 374.11,...
you borrowed 100,000 exactly 5 years ago. the loan is structured as an amortized loan. the...
you borrowed 100,000 exactly 5 years ago. the loan is structured as an amortized loan. the interest rate is 6 % and you make quarterly (end of quarter) payments of 1937.06. the loan is amortized over 25 years. how much principal have you paid over the first 5 years ?
You borrow a GPM of $400,000 with annual payments and 15-year term. The interest rate is...
You borrow a GPM of $400,000 with annual payments and 15-year term. The interest rate is 4.5% and the payment factors from year 1 to year 15 are: 50%, 50%, 50%, 50%, 50%, 75%, 75%, 75%, 75%, 75%, 100%, …, 100%. What are the annual payments for years 1 to 15? What is remaining balance at the end of each year? What are the interest payment and principal payment for years 1 to 15? Answer the questions (1) to (3)...
You have just negotiated a 5-year mortgage on $400,000 amortized over 25 years at a rate...
You have just negotiated a 5-year mortgage on $400,000 amortized over 25 years at a rate of 3.5%. After 5 years assume that the mortgage rate remains the same, but you increase the payments by 500 dollars per month, in how many periods (months) will you be able to pay the whole amount. please show all steps for answer.
You have just negotiated a 5-year mortgage on $400,000 amortized over 25 years at a rate...
You have just negotiated a 5-year mortgage on $400,000 amortized over 25 years at a rate of 3.5%. After 5 years assume that the mortgage rate remains the same, but you increase the payments by 500 dollars per month, in how many periods (months) will you be able to pay the whole amount. (Hint: Canadian banks quote mortgage rates as a rate per year compounded semi-annually)
Determine the annual payment on a $19,500 loan that is to be amortized over a four-year...
Determine the annual payment on a $19,500 loan that is to be amortized over a four-year period and carries a 10 percent interest rate. Also prepare a loan amortization schedule for this loan.
Determine the annual payment on a $17,000 loan that is to be amortized over a four-year...
Determine the annual payment on a $17,000 loan that is to be amortized over a four-year period and carries a 10 percent interest rate. Also prepare a loan amortization schedule for this loan.
Consider a $400,000, 30-year mortgage that is structured as a 10/20 interest only mortgage, with an...
Consider a $400,000, 30-year mortgage that is structured as a 10/20 interest only mortgage, with an annual rate of 3.5%. What would the payments be for the first 10 and the last 20 years?
An $8000 loan is to be amortized with equal monthly payments over a 2 year period...
An $8000 loan is to be amortized with equal monthly payments over a 2 year period at j (12) = 8 %. Find the outstanding principal after 7 months and split the 8 th payment into principal and interest portions. outstanding principal after 7 months is? the principal in the 8 th payment is? the interest in the 8 th payment is?
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT