Your 30 year mortgage is $350,000 with an interest rate of 4%. Prepare the amortization schedule...

Your 30 year mortgage is $350,000 with an interest rate of 4%. Prepare the amortization schedule for repayment of the mortgage

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jeff jeffy answered 1 year ago

a)Prepare an amortization schedule for a 10-year loan of $300,000. The interest rate is 12% and...

a)Prepare an amortization schedule for a 10-year loan of $300,000. The interest rate is 12% and the loan calls for equal payments. How much interest is paid in the fifth year? How much interest is paid over the life of the loan? b)What is the present value of $2,625 per year at a discount rate of 8%, if the first payment is received six years from now and the last payment is received 20 years from now?

Prepare an amortization schedule for a three-year loan of $111,000. The interest rate is 10 percent...

Prepare an amortization schedule for a three-year loan of $111,000. The interest rate is 10 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank. Enter '0' where necessary. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance 1 $ 111000 $ $ $ $ 2...

Prepare an amortization schedule for a five-year loan of $84,000. The interest rate is 8% per...

Prepare an amortization schedule for a five-year loan of $84,000. The interest rate is 8% per year and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan? Provide another amortization schedule if you must pay $8,400 toward the principle each year instead of equal annual payments. How much interest is paid in the third year? Explain why the third year interest...

Prepare an amortization schedule for a five-year loan of $55,000. The interest rate is 8 percent...

Prepare an amortization schedule for a five-year loan of $55,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Leave no cells blank - be certain to enter "0" wherever required.) Year Beginning Balance Total Payment Interest Payment Principal Payment Ending Balance 1 $ $ $ $ $ 2 3 4 5 How...

Prepare amortization schedule for a five-year loan of $167,500. The interest rate is 17 percent per...

Prepare amortization schedule for a five-year loan of $167,500. The interest rate is 17 percent per year and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan? (No excel sheet)

Amortization with Equal Payments. Prepare an amortization schedule for a three-year loan of $57,000. The interest...

Amortization with Equal Payments. Prepare an amortization schedule for a three-year loan of $57,000. The interest rate is 8 percent per year, and the loan calls for equal annual payments. How much interest is paid in the third year? How much total interest is paid over the life of the loan?

Constant Amortizing Mortgage Create an amortization schedule and answer the following questions for a $600,000 30-year...

Constant Amortizing Mortgage Create an amortization schedule and answer the following questions for a $600,000 30-year fully-amortizing CAM loan with monthly payments. The contract interest rate on the loan is 3.25% and there are no points associated with the loan. a.) Assuming no upfront fees/points or prepayment penalty, what is the EIR if the mortgage is prepaid in full at the end of year 7? b.) Assuming 1 point in origination fees but no prepayment penalty, what is the EIR...

Prepare the amortization schedule for a thirty-year variable interest loan with monthly payments of $250,000 at...

Prepare the amortization schedule for a thirty-year variable interest loan with monthly payments of $250,000 at an APR of 6.8%.

a. Prepare the amortization schedule for a thirty-year variable interest loan with monthly payments of $250,000...

a. Prepare the amortization schedule for a thirty-year variable interest loan with monthly payments of $250,000 at an APR of 6.8%. specifies monthly compounding. b.What is the interest payment and principal amounts in the 110th payment? c. Use the annuity formula to find how much principal you still owe to the bank for the 110th payment. Check that this value is the same you have in your amortization schedule. d. How much in total interest will you pay? e. Suppose...

1) Prepare an amortization table for a 30-year mortgage where the homeowner is borrowing $170,000 at...

1) Prepare an amortization table for a 30-year mortgage where the homeowner is borrowing $170,000 at a 3.75% interest rate. In addition to the monthly table, provide a summary table showing the interest paid, principal paid, and ending balance on a yearly basis. Create three separate graphs illustrating interest paid over time, principal paid over time, and ending balance over time for the 30 annual periods in the summary table. 2) Repeat the analysis, changing the interest rate to 8.75%...

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