Question

In: Finance

The maturity of the balloon loan is 5 years, amortization period is 30 years, loan amount...

The maturity of the balloon loan is 5 years, amortization period is 30 years, loan amount is $85,000 with annual interest rate 4.5% and monthly payments.

  1. What is the monthly payment for this balloon mortgage?
  2. What is the balloon payment at the end of five years for this balloon mortgage?

Solutions

Expert Solution

NO INTERMEDIATE ROUNDING IS DONE. IF WE DO, ANSWER WILL CHANGE. IF ANY CHANGE NEEDED, LET ME KNOW. THANK YOU

jeff jeffy answered 1 year ago
Next > < Previous

Related Solutions

Goal-seek Loan Amortization Schedule Amount of the loan: $500,000 Length of the loan: 30 years Payment:...
Goal-seek Loan Amortization Schedule Amount of the loan: $500,000 Length of the loan: 30 years Payment: Equal annual payment Interest rate: Annual interest rate is 3.0% in year 1, and increases 0.1% in year 2, etc. In other words, the annual interest rates will be 3.0%, 3.1%, 3.2%,…. M1 Assignment - Goal-seek Loan Amortization Schedule Rubric Successfully created year-by-year table with Year, Beginning balance, PMT, interest, principal, ending balance 3 pts Successfully created a column to reflect floating interest rates...
Loan Term: 5 Years Amortization Period: 5 years Payment Terms: Monthly at the end of the...
Loan Term: 5 Years Amortization Period: 5 years Payment Terms: Monthly at the end of the month Initial Principal Amount: $12,000,000 Interest Rate: 5.75% annually Develop an Amortization schedule for this particular loan. The schedule must show all payments associated with the loan. At the end of the fifth year of the loan, the loan balance should be zero.
Loan Term: 5 Years Amortization Period: 5 years Payment Terms: Monthly at the end of the...
Loan Term: 5 Years Amortization Period: 5 years Payment Terms: Monthly at the end of the month Initial Principal Amount: $12,000,000 Interest Rate: 5.75% annually Develop an Amortization schedule for this particular loan. The schedule must show all payments associated with the loan. At the end of the fifth year of the loan, the loan balance should be zero.
Implement an amortization schedule of a loan of at least 5 years in excel
Implement an amortization schedule of a loan of at least 5 years in excel
Calculate the balloon payment after 5 years on a $100,000 loan with an 10% interest rate,...
Calculate the balloon payment after 5 years on a $100,000 loan with an 10% interest rate, a 20-year amortization and monthly payments of $965.02
[SHORT] In Excel: Amount of the loan: $500,000 Length of the loan: 30 years Payment: Equal...
[SHORT] In Excel: Amount of the loan: $500,000 Length of the loan: 30 years Payment: Equal annual payment Interest rate: Annual interest rate is 3.0% in year 1, and increases at 0.1% increment every year after that. So Year 2's rate will be 3.1%, Year 3's rate will be 3.2%, etc. Create a year-by-year table with Year, Beginning balance, PMT, interest, principal, and ending balance. Make sure to create a column to reflect floating interest rates. Make sure to utilize...
The lender offers the following terms on the commercial loan of $1,500,000: the loan amortization period...
The lender offers the following terms on the commercial loan of $1,500,000: the loan amortization period is 30 years, interest rate is 7.5%, the payments are to be made monthly and the loan matures in 5 years. Prepare an annual debt service table, with beginning balance principal, interest, ending balance and total debt service rows for 5 years. Which line item is tax deductible? If the loan origination fees are 1.5% and due upon closing, what is the dollar value...
Construct an amortization schedule for a loan with the following characteristics. Loan amount = $10,000; term...
Construct an amortization schedule for a loan with the following characteristics. Loan amount = $10,000; term = 5 years; interest rate = 8 percent; annual payments.
$100,000 Amortizing Loan 9% stated rate 20-year amortization 5-year balloon Annual Payments a) Calculate annual payment...
$100,000 Amortizing Loan 9% stated rate 20-year amortization 5-year balloon Annual Payments a) Calculate annual payment b) Calculate balloon payment c) Value at 12% yield d) Prepare an amortization table
Loan Amortization Schedule, $80,000,000 at 8% for 15 years Year Beginning Amount Payment Interest Payment of...
Loan Amortization Schedule, $80,000,000 at 8% for 15 years Year Beginning Amount Payment Interest Payment of Principal Ending Balance 1 $     80,000,000.00 $         1,933.28 $            533,333.33 $                (531,400.05) $             80,531,400.05 2 $     80,531,400.05 $         1,933.28 $            536,876.00 $                (534,942.72) $             81,066,342.77 3 $     81,066,342.77 $         1,933.28 $            540,442.29 $                (538,509.01) $             81,604,851.78 4 $     81,604,851.78 $         1,933.28 $            544,032.35 $                (542,099.07) $             82,146,950.84 179 $ 260,404,969.06 $         1,933.28 $        1,736,033.13 $           (1,734,099.85) $          262,139,068.91 180 $ 262,139,068.91 $         1,933.28 $       ...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT