Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.)
Principal
(loan)
Payment per
$1,000
Monthly
mortgage
payment
Rate of
Selling price of
home
Down payment
Years
interest
91,000
4,000
6.0 %
30
acer
Σ
%24
%24
Transcribed Image Text:TABLE
15-1
Amortization table (mortgage principal and interest per $1,00O)
INTEREST
Term
71%
81%
9%
91%
10%
10%
11%
3%
51%
6%
64%
7%
8%
In years
5%
11.36
11.62
11.88
12.14
12.40
12.67
12.94
13.22
13.50
13.78
10
9.89
10.61
10.86
11.11
10.02
10.29
10.56
10.83
11.11
11.39
11.67
11.96
12.25
12.54
12
8.52
9.25
9.51
9.76
8.72
8.99
9.28
9.56
9.85
10.15
10.45
10.75
11.06
11.37
15
7.15
7.91
8.18
8.44
P.56
7.84
8.12
8.40
8.69
8.99
9.29
9.59
9.90
10.22
10.54 10.86
17
6.52
7.29
7.76
8.06
8.37
8.68
9.00
9.33
9.66
9.99
10.33
20
5.80
6.60
6.88
7.17
7.46
7.44
7.75
8.07
8.39
8.72
9.05
9.39
9.73
10.08
22
5.44
6.20
6.51
6.82
7.13
7.07
7.39
7.72
8.06
8.40
8.74
9.09
9.45
9.81
25
5.01
5.85
6.15
6.45
6.76
7.00
7.34
7.69
8.05
8.41
8.78
9.15
9.53
30
4.50
5.37
5.68
6.00
6.33
6.66
6.75
7.11
7.47
7.84
8.22
8.60
8.99
9.37
3.99
5.05
5.38
5.71
6.05
6.39
35
acer
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