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.

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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.

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?

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...

4. A $600,000 CPM fully amortizing loan is made, at a 4% interest rate compounded monthly,...

4. A $600,000 CPM fully amortizing loan is made, at a 4% interest rate compounded monthly, for a 30 year term. Loan comes with a charge of 5 points. What is the effective annual rate on the loan? *do work in EXCEL please*

16 years ago, a homeowner obtained a fully amortizing loan $120,000 at eight percent interest for...

16 years ago, a homeowner obtained a fully amortizing loan $120,000 at eight percent interest for 30 years. Mortgage rates have dropped, so that a fully amortizing 14-year loan can be obtained today at six percent interest. There is a two-percent prepayment penalty on the mortgage balance of the original loan. In addition, the new loan will charge 3 points, and other closing costs on the new loan will add an additional $125.00. All payments and compounding are monthly. What...

SHOW CLEAR WORK ON EXCEL A 30-year fully amortizing mortgage loan was made 10 years ago...

SHOW CLEAR WORK ON EXCEL A 30-year fully amortizing mortgage loan was made 10 years ago for $75,000 at 6 percent interest. The borrower would like to prepay the mortgage balance by $10,000. a. Assuminghecanreducehismonthlymortgagepayments,whatisthenewmortgagepayment? b. Assuming the loan maturity is shortened and using the original monthly payments, what is the new loan maturity?

To finance the purchase of a new home, a homebuyer takes-out a fully amortizing loan in...

To finance the purchase of a new home, a homebuyer takes-out a fully amortizing loan in the amount of $500,000 at 9% interest per year, compounded monthly, for a term of 20 years. 1. What is the outstanding balance of the loan at the end of 5 years? 2. At the end of year 5, the market rate of interest is 6%. What is the market value of the loan at the end of 5 years? 3. If this loan...

A fully amortizing mortgage loan is made for $100,000 at 4.5% for 30 years. Payments will...

A fully amortizing mortgage loan is made for $100,000 at 4.5% for 30 years. Payments will be made monthly. Calculate the following: a. Monthly payments b. Interest and principal payments during month 1. c. Total interest and principal payments made over the life of the loan (30 years). d. If the property were sold at the end of year 15, how much is still owed on the mortgage? e. At the end of year 15, how much has been paid...

Given the following information on a 30-year fixed-payment fully amortizing loan, determine the owner’s equity in...

Given the following information on a 30-year fixed-payment fully amortizing loan, determine the owner’s equity in the property after seven years if the market value of the property is $240,000 at the end of year 7: rate: 7%; monthly payment: $1,200.

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