Question

In: Finance

Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 =...

Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 = 180 and rate = 4.5%/12 Amount paid each month = PMT(4.5%/12, 180, -148912) = 1139.07 The amortization table is shown below: Payment no. Loan balance at the start of the month Amount of payment Interest Principal paid Loan balance at the end of the month find from payment # 10-100.

Payment no. Loan balance at the start of the month Amount of payment Interest Principal paid Loan balance at the end of the month
1                  148,912.00                          1,139.17      558.42                580.75          148,331.25
2                  148,331.25                          1,139.17      556.24                582.92          147,748.33
3                  147,748.33                          1,139.17      554.06                585.11          147,163.22
4                  147,163.22                          1,139.17      551.86                587.30          146,575.91
5                  146,575.91                          1,139.17      549.66                589.51          145,986.41
6                  145,986.41                          1,139.17      547.45                591.72          145,394.69
7                  145,394.69                          1,139.17      545.23                593.94          144,800.75
8                  144,800.75                          1,139.17      543.00                596.16          144,204.59
9                  144,204.59                          1,139.17      540.77                598.40          143,606.19
10                  143,606.19                          1,139.17      538.52                600.64          143,005.54
160                     22,963.44                          1,139.17         86.11            1,053.05             21,910.39
161                     21,910.39                          1,139.17         82.16            1,057.00             20,853.39
162                     20,853.39                          1,139.17         78.20            1,060.97             19,792.42

Solutions

Expert Solution

Monthly Interest=(4.5/12)% 0.00375
A B C=A*0.00375 D=B-C E=A-D
Payment No. Beginning Loan balance Monthly Payment Interest Principal paid Loan Balance at End of month
10 143606.19 1139.17 538.52 600.65 143005.54
11 143005.54 1139.17 536.27 602.90 142402.64
12 142402.64 1139.17 534.01 605.16 141797.48
13 141797.48 1139.17 531.74 607.43 141190.05
14 141190.05 1139.17 529.46 609.71 140580.35
15 140580.35 1139.17 527.18 611.99 139968.35
16 139968.35 1139.17 524.88 614.29 139354.06
17 139354.06 1139.17 522.58 616.59 138737.47
18 138737.47 1139.17 520.27 618.90 138118.57
19 138118.57 1139.17 517.94 621.23 137497.34
20 137497.34 1139.17 515.62 623.55 136873.79
21 136873.79 1139.17 513.28 625.89 136247.89
22 136247.89 1139.17 510.93 628.24 135619.65
23 135619.65 1139.17 508.57 630.60 134989.06
24 134989.06 1139.17 506.21 632.96 134356.10
25 134356.10 1139.17 503.84 635.33 133720.76
26 133720.76 1139.17 501.45 637.72 133083.04
27 133083.04 1139.17 499.06 640.11 132442.94
28 132442.94 1139.17 496.66 642.51 131800.43

jeff jeffy answered 8 months ago
Next > < Previous

Related Solutions

Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 =...
Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 = 180 and rate = 4.5%/12 Amount paid each month = PMT(4.5%/12, 180, -148912) = 1139.07 find payment number 100-160. Payment no. Loan balance at the start of the month Amount of payment Interest Principal paid Loan balance at the end of the month 1                  148,912.00                          1,139.17      558.42                580.75          148,331.25 2                  148,331.25                          1,139.17      556.24                582.92         ...
Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 =...
Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 = 180 and rate = 4.5%/12 Amount paid each month = PMT(4.5%/12, 180, -148912) = 1139.07 The amortization table is shown below: Payment no. Loan balance at the start of the month Amount of payment Interest Principal paid Loan balance at the end of the month find from payment # 50-100. 47 $119,814.49 $1,139.17 $449.30 $689.86 $119,124.63 48 $119,124.63 $1,139.17 $446.72 $692.45 $118,432.18 49 $118,432.18...
Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 =...
Amount financed = 240,000 - 91,088 = $148,912. This is Pv. Nper = 15 years*12 = 180 and rate = 4.5%/12 Amount paid each month = PMT(4.5%/12, 180, -148912) = 1139.07 find payment number 10-100. Payment no. Loan balance at the start of the month Amount of payment Interest Principal paid Loan balance at the end of the month. 6                  145,986.41                          1,139.17      547.45                591.72          145,394.69 7                  145,394.69                          1,139.17      545.23                593.94         ...
#The numpy function np.pv(rate, nper, pmt, fv=0, when='end') works like the Excel pv() function to calculate...
#The numpy function np.pv(rate, nper, pmt, fv=0, when='end') works like the Excel pv() function to calculate the present value of an annuity. The last two inputs (fv and when) are optional. -Assuming that the annualized percentage interest rate is 4%. An annuity investment offers monthly payments of $30,000 per month for 5 years. a. Calculate the present value this investment using the np.pv() function and print the answer. b. Keeping the size and number of payments the same, graph the...
When a mortgage is for 15 years at a 4.5% interest and the amount borrowed is...
When a mortgage is for 15 years at a 4.5% interest and the amount borrowed is $200,000 and closing costs are 4% of the new mortgage paid at closing by the buyer what is the...a) monthly mortgage principal and interest payment. b) balance of the mortgage after 5 years? c) total interest paid on the mortgage over ther 15 years? d) what is the first year's total mortgage interest tax deduction, if this is a home? e) what are the...
An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an...
An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an amortization schedule showing the quarterly payment, the quarterly interest on the outstanding balance, the portion of the payment going toward reducing the debt, and the balance. Please show every step and explanation.
An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an...
An amount of $200,000 is borrowed for 5 years at a rate of 12%. Make an amortization schedule showing the quarterly payment, the quarterly interest on the outstanding balance, the portion of the payment going toward reducing the debt, and the balance.
How is the over 15 trillion public debt financed ?
How is the over 15 trillion public debt financed ?
Find the PV of a 15-year annuity-immediate with payments of 15, 14, 13, ..., 1 at...
Find the PV of a 15-year annuity-immediate with payments of 15, 14, 13, ..., 1 at an annual effective rate of interest i = 3%. Find the PV of a 26-year annuity-immediate with payments of 1, 2, 3, ..., 26 at an annual effective rate of interest i= 7%.
15- For the following annuity, calculate the annual cash flow. PV:73000 Years:24 Interest Rate:9% Annual Cash...
15- For the following annuity, calculate the annual cash flow. PV:73000 Years:24 Interest Rate:9% Annual Cash Flow: 16- If you make a deposit of the amount below at the end of each year for the number of years at the interest rate specified, how much money will you have in the account at the end of that time?(Do not round intermediate calculations, round answer to two decimal places, i.e. 32.16) Payment:23000 Years:19 Interest Rate:9% Annual Cash Flow: 17-  Curly's Life Insurance...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT