Please show how to solve this problem using excel and please show the spreadsheet formulas. Interest-only mortgage with monthly payments and loan amount: $56,000; Term: 15 years; Annual interest rate: 7.5% What is the total payment in the 180th month? What is the outstanding balance at the end of 10 years (120 months)? What is the total interest payment during the entire loan term (180 months)?

Please show how to solve this problem. Interest-only mortgage with monthly payments and loan amount: $56,000; Term: 15 years; Annual interest rate: 7.5% What is the total payment in the 180th month? What is the outstanding balance at the end of 10 years (120 months)? What is the total interest payment during the entire loan term (180 months)?

Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at an annual interest rate of 4.28%. (a) In which month does the amount of principal in a monthly payment first exceed the amount of interest? (b) How much interest is repaid for the term of the loan? (Round your answer to the nearest cent.)

Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 an annual interest rate of 4.29%. (a) In which month does the amount of principal in a monthly payment first exceed the amount of interest? b) How much interest is repaid for the term of the loan? (Round your answer to the nearest cent.) tf the loan amount was $750,000 instead of $500,000, would the month in which the amount of principal in a monthly payment first exceeded the amount of interest change? Yes No

Consider a home mortgage of ​$17500 at a fixed APR of ​%6 for 15 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount​ paid, what percentage is paid toward the principal and what percentage is paid for interest. Please show all work computaion explanation formulas clearly with steps

Find the annual simple interest rate of a loan, where $900 is borrowed and where $1008 is repaid at the end of 18 months. Annual simple interest rate = %. Preview My Answers Submit Answers

A mortgage has the following terms: Amount:                                $750,000 Rate:                                      6.25% Amortization (Years):        30 Term (Years):                       20 Please determine the following: What is the Monthly Payment? In preparing an Income Statement, what is the Interest Expense for years 1 – 5? What is the Principal Balance at the end of year 6? What is the value of the loan at the expiration? If rates remain constant (flat), what would the benefit be to refinance this loan after year 10? do all the questions 1-5 and show the formulas in excel and show how you got it

Based on Exhibit 9-9 or using a financial calculator, what would be the monthly mortgage payments for each of the following situations? Note: Round time value factor and final answers to 2 decimal places. What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthly payment? a $119,000, 15-year loan at 6.00 percent. b. $103,000, 30-year loan at 8.00 percent. c. $96,000, 20-year loan at 5.00 percent. d-1. Longer mortgage terms mean a d-2. For increase in mortgage rate Monthly Mortgage Payment [lower higher monthly payment. monthly payment is required. Term Rate 3.0% 30 years $ 4.22 25 years 20 years 15 years $ 4.74 $ 5.55 $ 6.91 3.5 4.49 5.01 5.80 7.15 4.0 4.77 5.28 6.06 7.40 4.5 5.07 5.56 6.33 7.65 5.0 5.37 5.85 6.60 7.91 5.5 5.68 6.14 6.88 8.17 6.0 6.00 6.44 7.16 8.44 6.5 6.32 6.75 7.46 8.71 7.0 6.65 7.07 7.75 8.99 7.5 6.99 7.39 8.06 9.27 8.0 7.34 7.72 8.36 9.56

Find the total monthly payment, including taxes and insurance, for the given mortgage loan using the table. Calculator answers may be slightly different. (Round your answer to the nearest cent.) Amount   Rate   Time(Years)   AnnualTaxes   AnnualInsurance $110,000   9%   15   $1500   $1200 $

Find the length of the loan in months, if $1000 is borrowed with an annual simple interest rate of 3% and with $1030 repaid at the end of the loan. what is the length of the loan in months?