i need typing clear urjent no chatgpt i will give 5 upvotes. A mortgage for a condominium had aprincipal balance of $41,200 that hadto be amortized over the remainingperiod of 6 years. The interest ratewas fixed at 4.02% compoundedsemi-annually and payments weremade monthly. a. Calculate the size ofthe payments. b. If the monthlypayments were set at $745, calculatethe size of the final payment.

Monthly payment refers to the amount paid every month for a particular period of time up to the…

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Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A mortgage for a condominium had a principal balance of $46,400 that had to be amortized over the remaining period of 6 years. The interest rate was fixed at 3.72% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments, rounded up to the next whole number. O $720 O $1,175 O $711 O $729 b. If the monthly payments were set at $820, by how much would the time period of the mortgage shorten? O O years and 9 months O 1 years and 10 months o 4 years and 6 months o 5 years and 8 months c. If the monthly payments were set at $820, calculate the size of the final payment. O $1,036.19 O $605.00 O $216.85 O $52,295.11
A mortgage for a condominium had a principal balance of $41,400 that had to be amortized over the remaining period of 8 years. The interest rate was fixed at 3.02% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments. b. If the monthly payments were set at $636, by how much would the time period of the mortgage shorten? year(s) months c. If the monthly payments were set at $636, calculate the size of the final payment.
A mortgage for a condominium had a principal balance of $43,800 that had to be amortized over the remaining period of 6 years. The interest rate was fixed at 4.52% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments. b. If the monthly payments were set at $845, by how much would the time period of the mortgage shorten? c. If the monthly payments were set at $845, calculate the size of the final payment.
A mortgage for a condominium had a principal balance of $48,400 that had to be amortized over the remaining period of 5 years. The interest rate was fixed at 4.32% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments. $0 Round up to the next whole number b. If the monthly payments were set at $998, by how much would the time period of the mortgage shorten? 0 year(s) c. If the monthly payments were set at $998, calculate the size of the final payment. Round to the nearest cent 0 months $0.00
Consider a home mortgage of $225,000 at a fixed APR of 3% for 25 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.
The balance on a mortgage was $48,200 and an interest rate of 4.50% compounded semi-annually was charged for the remaining 5-year term. Monthly payments were made to settle the mortgage. a. Calculate the size of the monthly payments. b. If the monthly payments were set at $998, how long would it take to pay off the mortgage? c. If the monthly payments were set at $998, calculate the size of the final payment.
Consider a home mortgage of $150 comma 000 at a fixed APR of 4.5 % for 20 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.
A mortgage for a condominium had a principal balance of $44, 700 that had to be amortized over the remaining period of 6 years. The interest rate was fixed at 4.42% compounded semi-annually and payments were made monthly. Full solutions should be shown on separate sheets of paper. Submit your solutions. a. Calculate the size of the payments. Round up to the next whole number b. If the monthly payments were set at $808, by how much would the time period of the mortgage shorten? year(s) months
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
A mortgage for a condominium had a principal balance of $40,800 that had to be amortized over the remaining period of 6 years. The interest rate was fixed at 5.42% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments, rounded up to the next whole number. O $664 O $1,295 O $657 O $672
Consider a home mortgage of $ at a fixed APR of % for 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.
Create an amortization table for a mortgage based on a monthly payment of $2,486.36 a month, anninterest rate of 0.07375, and a total cost of a house of $359,900

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A mortgage for a condominium had principal balance of $41,200 that ha to be amortized over the remaining