Complete the first month of the amortization schedule for a fixed-rate mortgage. Mortgage: $100,000 Interest rate: 9.0% Term of loan: 15 years Click the icon to view the Real Estate Amortization Table. Amortization Schedule Payment Total Payment Interest Payment Principal Payment Balance of Principal Number
Complete the first month of the amortization schedule for a fixed-rate mortgage. Mortgage: $100,000 Interest rate: 9.0% Term of loan: 15 years Click the icon to view the Real Estate Amortization Table. Amortization Schedule Payment Total Payment Interest Payment Principal Payment Balance of Principal Number
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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✔️✔️✅✅✔️✔️✔️✅✅
Transcribed Image Text:Real Estate Amortization Table
Annual
rate
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
5
$17.52776
17.74736
17.96869
18.19174
18.41652
18.64302
18.87123
19.10116
19.33280
19.56615
19.80120
20.03795
10
$9.20135
9.42699
9.65607
9.88859
10.12451
10.36384
10.60655
10.85263
11.10205
11.35480
11.61085
11.87018
15
Term of Mortgage (years)
$6.43509
6.66789
6.90582
7.14883
7.39688
7.64993
7.90794
8.17083
8.43857
8.71107
8.98828
9.27012
20
$5.05883
5.29903
5.54598
5.79960
6.05980
6.32649
6.59956
6.87887
7.16431
7.45573
7.75299
8.05593
25
$4.23854
4.48617
4.74211
5.00624
5.27837
5.55832
5.84590
6.14087
6.44301
6.75207
7.06779
7.38991
30
$3.69619
3.95121
4.21604
4.49045
4.77415
5.06685
5.36822
5.67789
5.99551
6.32068
6.65302
6.99215
40
$3.02826
3.29778
3.57984
3.87391
4.17938
4.49563
4.82197
5.15770
5.50214
5.85457
6.21431
6.58071
I
Transcribed Image Text:Complete the first month of the amortization schedule for a fixed-rate mortgage.
Mortgage: $100,000
Interest rate: 9.0%
Term of loan: 15 years
Click the icon to view the Real Estate Amortization Table.
Payment
Number
1
Amortization Schedule
Total Payment Interest Payment Principal Payment Balance of Principal
(a) $
(b) $
(b) $
(d) $
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