B 1 5 7 3 A Selling Price of Home $160,000.00 B Down Payment $20,000.00 Required: Please use the above information to answer the below questions: Note: Use cells A2 to D3 from the given information to complete this question. Rate of Interest 3.50% Years 30
B 1 5 7 3 A Selling Price of Home $160,000.00 B Down Payment $20,000.00 Required: Please use the above information to answer the below questions: Note: Use cells A2 to D3 from the given information to complete this question. Rate of Interest 3.50% Years 30
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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Question
100%
I have the first 2 but struggling with the last 2. Please do NOT round answers.
Transcribed Image Text:1
2
3
4
5
A
Selling Price of Home
$160,000.00
B
Down Payment
$20,000.00
Required:
Please use the above information to answer the below questions:
4. What is the monthly mortgage payment?
Note: Use cells A2 to D3 from the given information to complete this question.
$4.50
$630.00
360
$140,000.00
C
6
7
8
9
10
1. How many total payments on this mortgage?
11 2. What is the principal (loan)?
12 3. What is the payment per $1,000?
13
14
15
16
17 Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to s
18 Nothing in this area will be graded, but it will be submitted with your assignment.
19
360
20
140000
21
4.5
22
630
23
0000
Rate of Interest
3.50%
D
Years
30
Transcribed Image Text:TABLE 15.1
Amortization table (mortgage principal and interest per $1,000)
Term
in
Years 3½% 5%
10
12
15
17
20
22
25
30
35
5½% 6%
62% 7%
71%
8%
82%
9%
9.89 10.61 10.86
11.88 12.14
12.67
12.40
11.11 11.39
8.52
9.25
9.51
11.11
11.36 11.62
9.76 10.02 10.29 10.56 10.83
8.99 9.28 9.56
8.40 8.69 8.99
7.15
7.91
8.18
8.44
8.72
8.12
6.52 7.29 7.56
7.84
9.85
9.29
8.68
5.80 6.60 6.88 7.17
7.46 7.76
8.06 8.37
7.44
8.07
8.39
5.44 6.20 6.51
5.01 5.85 6.15 6.45
7.75
7.39
6.76 7.07
7.72 8.06
4.50 5.37
5.68 6.00
6.33 6.66
7.00
7.34
3.99
5.05 5.38 5.71 6.05 6.39 6.75
7.11
INTEREST
6.82 7.13
9¹12% 10% 10%% 11%
13.22
13.50 13.78
12.94
11.67 11.96
12.25
12.54
10.15 10.45 10.75
11.06
11.37
9.59 9.90 10.22
10.54
10.86
9.66 9.99
10.33
9.00 9.33
8.72 9.05 9.39 9.73 10.08
8.40 8.74
7.69 8.05 8.41
7.84
9.09 9.45 9.81
8.78 9.15 9.53
8.22 8.60 8.99 9.37
7.47
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