Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
Complete the following table: (Use Table 15.1.)
Note: Do not round intermediate calculations. Round your answers to the nearest cent.
| Selling price | down payment | amount mortgage | rate | years | Monthly paymeny | First payment broken down to interest | first payment broken down to principal | Balance at end of month |
| $236,000 | $47,200 | 7.00% | 15 |
TABLE 15.1
Amortization table (mortgage principal and interest per $1,000)
| Rate | Interest Only | 10 Year | 15 Year | 20 Year | 25 Year | 30 Year | 40 Year |
|---|---|---|---|---|---|---|---|
| 2.000 | 0.16667 | 9.20135 | 6.43509 | 5.05883 | 4.23854 | 3.69619 | 3.02826 |
| 2.125 | 0.17708 | 9.25743 | 6.49281 | 5.11825 | 4.29966 | 3.75902 | 3.09444 |
| 2.250 | 0.18750 | 9.31374 | 6.55085 | 5.17808 | 4.36131 | 3.82246 | 3.16142 |
| 2.375 | 0.19792 | 9.37026 | 6.60921 | 5.23834 | 4.42348 | 3.88653 | 3.22921 |
| 2.500 | 0.20833 | 9.42699 | 6.66789 | 5.29903 | 4.48617 | 3.95121 | 3.29778 |
| 2.625 | 0.21875 | 9.48394 | 6.72689 | 5.36014 | 4.54938 | 4.01651 | 3.36714 |
| 2.750 | 0.22917 | 9.54110 | 6.78622 | 5.42166 | 4.61311 | 4.08241 | 3.43728 |
| 2.875 | 0.23958 | 9.59848 | 6.84586 | 5.48361 | 4.67735 | 4.14892 | 3.50818 |
| 3.000 | 0.25000 | 9.65607 | 6.90582 | 5.54598 | 4.74211 | 4.21604 | 3.57984 |
| 3.125 | 0.26042 | 9.71388 | 6.96609 | 5.60876 | 4.80738 | 4.28375 | 3.65226 |
| 3.250 | 0.27083 | 9.77190 | 7.02669 | 5.67196 | 4.87316 | 4.35206 | 3.72541 |
| 3.375 | 0.28125 | 9.83014 | 7.08760 | 5.73557 | 4.93945 | 4.42096 | 3.79930 |
| 3.500 | 0.29167 | 9.88859 | 7.14883 | 5.79960 | 5.00624 | 4.49045 | 3.87391 |
| 3.625 | 0.30208 | 9.94725 | 7.21037 | 5.86404 | 5.07352 | 4.56051 | 3.94923 |
| 3.750 | 0.31250 | 10.00612 | 7.27222 | 5.92888 | 5.14131 | 4.63116 | 4.02526 |
| 3.875 | 0.32292 | 10.06521 | 7.33440 | 5.99414 | 5.20959 | 4.70237 | 4.10198 |
| 4.000 | 0.33333 | 10.12451 | 7.39688 | 6.05980 | 5.27837 | 4.77415 | 4.17938 |
| 4.125 | 0.34375 | 10.18403 | 7.45968 | 6.12587 | 5.34763 | 4.84650 | 4.25746 |
| 4.250 | 0.35417 | 10.24375 | 7.52278 | 6.19234 | 5.41738 | 4.91940 | 4.33620 |
| 4.375 | 0.36458 | 10.30369 | 7.58620 | 6.25922 | 5.48761 | 4.99285 | 4.41559 |
| 4.500 | 0.37500 | 10.36384 | 7.64993 | 6.32649 | 5.55832 | 5.06685 | 4.49563 |
| 4.625 | 0.38542 | 10.42420 | 7.71397 | 6.39417 | 5.62951 | 5.14140 | 4.57629 |
| 4.750 | 0.39583 | 10.48477 | 7.77832 | 6.46224 | 5.70117 | 5.21647 | 4.65758 |
| 4.875 | 0.40625 | 10.54556 | 7.84297 | 6.53070 | 5.77330 | 5.29208 | 4.73947 |
| 5.000 | 0.41667 | 10.60655 | 7.90794 | 6.59956 | 5.84590 | 5.36822 | 4.82197 |
| 5.125 | 0.42708 | 10.66776 | 7.97320 | 6.66881 | 5.91896 | 5.44487 | 4.90505 |
| 5.250 | 0.43750 | 10.72917 | 8.03878 | 6.73844 | 5.99248 | 5.52204 | 4.98870 |
| 5.375 | 0.44792 | 10.79079 | 8.10465 | 6.80847 | 6.06645 | 5.59971 | 5.07293 |
| 5.500 | 0.45833 | 10.85263 | 8.17083 | 6.87887 | 6.14087 | 5.67789 | 5.15770 |
| 5.625 | 0.46875 | 10.91467 | 8.23732 | 6.94966 | 6.21575 | 5.75656 | 5.24302 |
| 5.750 | 0.47917 | 10.97692 | 8.30410 | 7.02084 | 6.29106 | 5.83573 | 5.32888 |
| 5.875 | 0.48958 | 11.03938 | 8.37118 | 7.09238 | 6.36682 | 5.91538 | 5.41525 |
| 6.000 | 0.50000 | 11.10205 | 8.43857 | 7.16431 | 6.44301 | 5.99551 | 5.50214 |
| 6.125 | 0.51042 | 11.16493 | 8.50625 | 7.23661 | 6.51964 | 6.07611 | 5.58952 |
| 6.250 | 0.52083 | 11.22801 | 8.57423 | 7.30928 | 6.59669 | 6.15717 | 5.67740 |
| 6.375 | 0.53125 | 11.29130 | 8.64250 | 7.38232 | 6.67417 | 6.23870 | 5.76575 |
| 6.500 | 0.54167 | 11.35480 | 8.71107 | 7.45573 | 6.75207 | 6.32068 | 5.85457 |
| 6.625 | 0.55208 | 11.41850 | 8.77994 | 7.52950 | 6.83039 | 6.40311 | 5.94385 |
| 6.750 | 0.56250 | 11.48241 | 8.84909 | 7.60364 | 6.90912 | 6.48598 | 6.03357 |
| 6.875 | 0.57292 | 11.54653 | 8.91854 | 7.67814 | 6.98825 | 6.56929 | 6.12373 |
| 7.000 | 0.58333 | 11.61085 | 8.98828 | 7.75299 | 7.06779 | 6.65302 | 6.21431 |
| 7.125 | 0.59375 | 11.67537 | 9.05831 | 7.82820 | 7.14773 | 6.73719 | 6.30531 |
| 7.250 | 0.60417 | 11.74010 | 9.12863 | 7.90376 | 7.22807 | 6.82176 | 6.39672 |
| 7.375 | 0.61458 | 11.80504 | 9.19923 | 7.97967 | 7.30880 | 6.90675 | 6.48852 |
| 7.500 | 0.06250 | 11.87017 | 9.27101 | 8.05593 | 7.38991 | 6.99215 | 6.58071 |
| 7.625 | 0.63542 | 11.93552 | 9.34130 | 8.13254 | 7.47141 | 7.07794 | 6.67327 |
| 7.750 | 0.64583 | 12.00106 | 9.41276 | 8.20949 | 7.55329 | 7.16412 | 6.76620 |
| 7.875 | 0.65625 | 12.06681 | 9.48450 | 8.28677 | 7.63554 | 7.25069 | 6.85948 |
| 8.000 | 0.66667 | 12.13276 | 9.55652 | 8.36440 | 7.71816 | 7.33765 | 6.95312 |
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Follow-up Questions
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Follow-up Question
Complete the following table: (Use Table 15.1.)
Note: Do not round intermediate calculations. Round your answers to the nearest cent.
| selling price | down payment | amount mortgage | rate | years | monthly payment | first payment broken down into interest | first payment broken down into principal | Balance at end of month |
| $236,000 | 47,200 | $188,800 | 7.00% | 15 |
Monthly payment is NOT 1694.23
first payment broken down into interest is NOT 1,101.23
first payment principal is NOT 592.90
balance at end is NOT 188,207.10
TABLE 15.1
Amortization table (mortgage principal and interest per $1,000)
| Rate | Interest Only | 10 Year | 15 Year | 20 Year | 25 Year | 30 Year | 40 Year |
|---|---|---|---|---|---|---|---|
| 2.000 | 0.16667 | 9.20135 | 6.43509 | 5.05883 | 4.23854 | 3.69619 | 3.02826 |
| 2.125 | 0.17708 | 9.25743 | 6.49281 | 5.11825 | 4.29966 | 3.75902 | 3.09444 |
| 2.250 | 0.18750 | 9.31374 | 6.55085 | 5.17808 | 4.36131 | 3.82246 | 3.16142 |
| 2.375 | 0.19792 | 9.37026 | 6.60921 | 5.23834 | 4.42348 | 3.88653 | 3.22921 |
| 2.500 | 0.20833 | 9.42699 | 6.66789 | 5.29903 | 4.48617 | 3.95121 | 3.29778 |
| 2.625 | 0.21875 | 9.48394 | 6.72689 | 5.36014 | 4.54938 | 4.01651 | 3.36714 |
| 2.750 | 0.22917 | 9.54110 | 6.78622 | 5.42166 | 4.61311 | 4.08241 | 3.43728 |
| 2.875 | 0.23958 | 9.59848 | 6.84586 | 5.48361 | 4.67735 | 4.14892 | 3.50818 |
| 3.000 | 0.25000 | 9.65607 | 6.90582 | 5.54598 | 4.74211 | 4.21604 | 3.57984 |
| 3.125 | 0.26042 | 9.71388 | 6.96609 | 5.60876 | 4.80738 | 4.28375 | 3.65226 |
| 3.250 | 0.27083 | 9.77190 | 7.02669 | 5.67196 | 4.87316 | 4.35206 | 3.72541 |
| 3.375 | 0.28125 | 9.83014 | 7.08760 | 5.73557 | 4.93945 | 4.42096 | 3.79930 |
| 3.500 | 0.29167 | 9.88859 | 7.14883 | 5.79960 | 5.00624 | 4.49045 | 3.87391 |
| 3.625 | 0.30208 | 9.94725 | 7.21037 | 5.86404 | 5.07352 | 4.56051 | 3.94923 |
| 3.750 | 0.31250 | 10.00612 | 7.27222 | 5.92888 | 5.14131 | 4.63116 | 4.02526 |
| 3.875 | 0.32292 | 10.06521 | 7.33440 | 5.99414 | 5.20959 | 4.70237 | 4.10198 |
| 4.000 | 0.33333 | 10.12451 | 7.39688 | 6.05980 | 5.27837 | 4.77415 | 4.17938 |
| 4.125 | 0.34375 | 10.18403 | 7.45968 | 6.12587 | 5.34763 | 4.84650 | 4.25746 |
| 4.250 | 0.35417 | 10.24375 | 7.52278 | 6.19234 | 5.41738 | 4.91940 | 4.33620 |
| 4.375 | 0.36458 | 10.30369 | 7.58620 | 6.25922 | 5.48761 | 4.99285 | 4.41559 |
| 4.500 | 0.37500 | 10.36384 | 7.64993 | 6.32649 | 5.55832 | 5.06685 | 4.49563 |
| 4.625 | 0.38542 | 10.42420 | 7.71397 | 6.39417 | 5.62951 | 5.14140 | 4.57629 |
| 4.750 | 0.39583 | 10.48477 | 7.77832 | 6.46224 | 5.70117 | 5.21647 | 4.65758 |
| 4.875 | 0.40625 | 10.54556 | 7.84297 | 6.53070 | 5.77330 | 5.29208 | 4.73947 |
| 5.000 | 0.41667 | 10.60655 | 7.90794 | 6.59956 | 5.84590 | 5.36822 | 4.82197 |
| 5.125 | 0.42708 | 10.66776 | 7.97320 | 6.66881 | 5.91896 | 5.44487 | 4.90505 |
| 5.250 | 0.43750 | 10.72917 | 8.03878 | 6.73844 | 5.99248 | 5.52204 | 4.98870 |
| 5.375 | 0.44792 | 10.79079 | 8.10465 | 6.80847 | 6.06645 | 5.59971 | 5.07293 |
| 5.500 | 0.45833 | 10.85263 | 8.17083 | 6.87887 | 6.14087 | 5.67789 | 5.15770 |
| 5.625 | 0.46875 | 10.91467 | 8.23732 | 6.94966 | 6.21575 | 5.75656 | 5.24302 |
| 5.750 | 0.47917 | 10.97692 | 8.30410 | 7.02084 | 6.29106 | 5.83573 | 5.32888 |
| 5.875 | 0.48958 | 11.03938 | 8.37118 | 7.09238 | 6.36682 | 5.91538 | 5.41525 |
| 6.000 | 0.50000 | 11.10205 | 8.43857 | 7.16431 | 6.44301 | 5.99551 | 5.50214 |
| 6.125 | 0.51042 | 11.16493 | 8.50625 | 7.23661 | 6.51964 | 6.07611 | 5.58952 |
| 6.250 | 0.52083 | 11.22801 | 8.57423 | 7.30928 | 6.59669 | 6.15717 | 5.67740 |
| 6.375 | 0.53125 | 11.29130 | 8.64250 | 7.38232 | 6.67417 | 6.23870 | 5.76575 |
| 6.500 | 0.54167 | 11.35480 | 8.71107 | 7.45573 | 6.75207 | 6.32068 | 5.85457 |
| 6.625 | 0.55208 | 11.41850 | 8.77994 | 7.52950 | 6.83039 | 6.40311 | 5.94385 |
| 6.750 | 0.56250 | 11.48241 | 8.84909 | 7.60364 | 6.90912 | 6.48598 | 6.03357 |
| 6.875 | 0.57292 | 11.54653 | 8.91854 | 7.67814 | 6.98825 | 6.56929 | 6.12373 |
| 7.000 | 0.58333 | 11.61085 | 8.98828 | 7.75299 | 7.06779 | 6.65302 | 6.21431 |
| 7.125 | 0.59375 | 11.67537 | 9.05831 | 7.82820 | 7.14773 | 6.73719 | 6.30531 |
| 7.250 | 0.60417 | 11.74010 | 9.12863 | 7.90376 | 7.22807 | 6.82176 | 6.39672 |
| 7.375 | 0.61458 | 11.80504 | 9.19923 | 7.97967 | 7.30880 | 6.90675 | 6.48852 |
| 7.500 | 0.06250 | 11.87017 | 9.27101 | 8.05593 | 7.38991 | 6.99215 | 6.58071 |
| 7.625 | 0.63542 | 11.93552 | 9.34130 | 8.13254 | 7.47141 | 7.07794 | 6.67327 |
| 7.750 | 0.64583 | 12.00106 | 9.41276 | 8.20949 | 7.55329 | 7.16412 | 6.76620 |
| 7.875 | 0.65625 | 12.06681 | 9.48450 | 8.28677 | 7.63554 | 7.25069 | 6.85948 |
| 8.000 | 0.66667 | 12.13276 | 9.55652 | 8.36440 | 7.71816 | 7.33765 | 6.95312 |
Solution
by Bartleby Expert
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Complete the following table: (Use Table 15.1.)
Note: Do not round intermediate calculations. Round your answers to the nearest cent.
| selling price | down payment | amount mortgage | rate | years | monthly payment | first payment broken down into interest | first payment broken down into principal | Balance at end of month |
| $236,000 | 47,200 | $188,800 | 7.00% | 15 |
Monthly payment is NOT 1694.23
first payment broken down into interest is NOT 1,101.23
first payment principal is NOT 592.90
balance at end is NOT 188,207.10
TABLE 15.1
Amortization table (mortgage principal and interest per $1,000)
| Rate | Interest Only | 10 Year | 15 Year | 20 Year | 25 Year | 30 Year | 40 Year |
|---|---|---|---|---|---|---|---|
| 2.000 | 0.16667 | 9.20135 | 6.43509 | 5.05883 | 4.23854 | 3.69619 | 3.02826 |
| 2.125 | 0.17708 | 9.25743 | 6.49281 | 5.11825 | 4.29966 | 3.75902 | 3.09444 |
| 2.250 | 0.18750 | 9.31374 | 6.55085 | 5.17808 | 4.36131 | 3.82246 | 3.16142 |
| 2.375 | 0.19792 | 9.37026 | 6.60921 | 5.23834 | 4.42348 | 3.88653 | 3.22921 |
| 2.500 | 0.20833 | 9.42699 | 6.66789 | 5.29903 | 4.48617 | 3.95121 | 3.29778 |
| 2.625 | 0.21875 | 9.48394 | 6.72689 | 5.36014 | 4.54938 | 4.01651 | 3.36714 |
| 2.750 | 0.22917 | 9.54110 | 6.78622 | 5.42166 | 4.61311 | 4.08241 | 3.43728 |
| 2.875 | 0.23958 | 9.59848 | 6.84586 | 5.48361 | 4.67735 | 4.14892 | 3.50818 |
| 3.000 | 0.25000 | 9.65607 | 6.90582 | 5.54598 | 4.74211 | 4.21604 | 3.57984 |
| 3.125 | 0.26042 | 9.71388 | 6.96609 | 5.60876 | 4.80738 | 4.28375 | 3.65226 |
| 3.250 | 0.27083 | 9.77190 | 7.02669 | 5.67196 | 4.87316 | 4.35206 | 3.72541 |
| 3.375 | 0.28125 | 9.83014 | 7.08760 | 5.73557 | 4.93945 | 4.42096 | 3.79930 |
| 3.500 | 0.29167 | 9.88859 | 7.14883 | 5.79960 | 5.00624 | 4.49045 | 3.87391 |
| 3.625 | 0.30208 | 9.94725 | 7.21037 | 5.86404 | 5.07352 | 4.56051 | 3.94923 |
| 3.750 | 0.31250 | 10.00612 | 7.27222 | 5.92888 | 5.14131 | 4.63116 | 4.02526 |
| 3.875 | 0.32292 | 10.06521 | 7.33440 | 5.99414 | 5.20959 | 4.70237 | 4.10198 |
| 4.000 | 0.33333 | 10.12451 | 7.39688 | 6.05980 | 5.27837 | 4.77415 | 4.17938 |
| 4.125 | 0.34375 | 10.18403 | 7.45968 | 6.12587 | 5.34763 | 4.84650 | 4.25746 |
| 4.250 | 0.35417 | 10.24375 | 7.52278 | 6.19234 | 5.41738 | 4.91940 | 4.33620 |
| 4.375 | 0.36458 | 10.30369 | 7.58620 | 6.25922 | 5.48761 | 4.99285 | 4.41559 |
| 4.500 | 0.37500 | 10.36384 | 7.64993 | 6.32649 | 5.55832 | 5.06685 | 4.49563 |
| 4.625 | 0.38542 | 10.42420 | 7.71397 | 6.39417 | 5.62951 | 5.14140 | 4.57629 |
| 4.750 | 0.39583 | 10.48477 | 7.77832 | 6.46224 | 5.70117 | 5.21647 | 4.65758 |
| 4.875 | 0.40625 | 10.54556 | 7.84297 | 6.53070 | 5.77330 | 5.29208 | 4.73947 |
| 5.000 | 0.41667 | 10.60655 | 7.90794 | 6.59956 | 5.84590 | 5.36822 | 4.82197 |
| 5.125 | 0.42708 | 10.66776 | 7.97320 | 6.66881 | 5.91896 | 5.44487 | 4.90505 |
| 5.250 | 0.43750 | 10.72917 | 8.03878 | 6.73844 | 5.99248 | 5.52204 | 4.98870 |
| 5.375 | 0.44792 | 10.79079 | 8.10465 | 6.80847 | 6.06645 | 5.59971 | 5.07293 |
| 5.500 | 0.45833 | 10.85263 | 8.17083 | 6.87887 | 6.14087 | 5.67789 | 5.15770 |
| 5.625 | 0.46875 | 10.91467 | 8.23732 | 6.94966 | 6.21575 | 5.75656 | 5.24302 |
| 5.750 | 0.47917 | 10.97692 | 8.30410 | 7.02084 | 6.29106 | 5.83573 | 5.32888 |
| 5.875 | 0.48958 | 11.03938 | 8.37118 | 7.09238 | 6.36682 | 5.91538 | 5.41525 |
| 6.000 | 0.50000 | 11.10205 | 8.43857 | 7.16431 | 6.44301 | 5.99551 | 5.50214 |
| 6.125 | 0.51042 | 11.16493 | 8.50625 | 7.23661 | 6.51964 | 6.07611 | 5.58952 |
| 6.250 | 0.52083 | 11.22801 | 8.57423 | 7.30928 | 6.59669 | 6.15717 | 5.67740 |
| 6.375 | 0.53125 | 11.29130 | 8.64250 | 7.38232 | 6.67417 | 6.23870 | 5.76575 |
| 6.500 | 0.54167 | 11.35480 | 8.71107 | 7.45573 | 6.75207 | 6.32068 | 5.85457 |
| 6.625 | 0.55208 | 11.41850 | 8.77994 | 7.52950 | 6.83039 | 6.40311 | 5.94385 |
| 6.750 | 0.56250 | 11.48241 | 8.84909 | 7.60364 | 6.90912 | 6.48598 | 6.03357 |
| 6.875 | 0.57292 | 11.54653 | 8.91854 | 7.67814 | 6.98825 | 6.56929 | 6.12373 |
| 7.000 | 0.58333 | 11.61085 | 8.98828 | 7.75299 | 7.06779 | 6.65302 | 6.21431 |
| 7.125 | 0.59375 | 11.67537 | 9.05831 | 7.82820 | 7.14773 | 6.73719 | 6.30531 |
| 7.250 | 0.60417 | 11.74010 | 9.12863 | 7.90376 | 7.22807 | 6.82176 | 6.39672 |
| 7.375 | 0.61458 | 11.80504 | 9.19923 | 7.97967 | 7.30880 | 6.90675 | 6.48852 |
| 7.500 | 0.06250 | 11.87017 | 9.27101 | 8.05593 | 7.38991 | 6.99215 | 6.58071 |
| 7.625 | 0.63542 | 11.93552 | 9.34130 | 8.13254 | 7.47141 | 7.07794 | 6.67327 |
| 7.750 | 0.64583 | 12.00106 | 9.41276 | 8.20949 | 7.55329 | 7.16412 | 6.76620 |
| 7.875 | 0.65625 | 12.06681 | 9.48450 | 8.28677 | 7.63554 | 7.25069 | 6.85948 |
| 8.000 | 0.66667 | 12.13276 | 9.55652 | 8.36440 | 7.71816 | 7.33765 | 6.95312 |
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- 18 .Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 90,000 $ 5,000 $ 85,000 5 1/2% 30 $ 5.67789 $ 482.62 What is the total cost of interest? Note: Do not round intermediate calculations. Round your answer to the nearest cent. Total cost of interest:???arrow_forwardUse the amortization table to determine how much interest is paid in the first 4 months of the loan. Click the icon to view the amortization table. $ (Type an integer or a decimal.) Amortization Table Payment Number 0 1 2 3 4 5 6 7 8 9 10 11 12 Amortization Table Amount of Payment $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.17 $215.13 Print Interest for Period $12.50 $11.49 $10.47 $9.44 $8.42 $7.38 $6.34 $5.30 $4.25 $3.20 $2.14 $1.07 Portion to Principal $202.67 $203.68 $204.70 $205.73 $206.75 $207.79 $208.83 $209.87 $210.92 $211.97 $213.03 $214.06 Done Principal at End of Period $2500.00 $2297.33 $2093.65 $1888.95 $1683.22 $1476.47 $1268.68 $1059.85 $849.98 $639.06 $427.09 $214.06 $0.00arrow_forwardPLEASE DO NOT ROUND THE ANSWERS Selling Price of Home Down Payment Rate of Interest Years $ 160,000.00 $ 20,000.00 3.50% 30 Required: Please use the above information to answer the below questions: (Use Table 15-1) How many total payments on this mortgage? What is the principal (loan)? What is the payment per $1,000? What is the monthly mortgage payment? TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Term in Years INTEREST 3½% 5% 5½% 6% 6½% 7% 7½% 8% 8½% 9% 9½% 10% 10½% 11% 10 9.89 10.61 10.86 11.11 11.36 11.62 11.88 12.14 12.40 12.67 12.94 13.22 13.50 13.78 12 8.52 9.25 9.51 9.76 10.02 10.29 10.56 10.83 11.11 11.39 11.67 11.96 12.25 12.54 15 7.15 7.91 8.18 8.44 8.72 8.99 9.28 9.56 9.85 10.15 10.45 10.75 11.06 11.37 17 6.52 7.29 7.56 7.84 8.12 8.40 8.69 8.99 9.29 9.59 9.90 10.22 10.54 10.86 20 5.80 6.60 6.88 7.17 7.46 7.76 8.06 8.37 8.68 9.00 9.33 9.66 9.99 10.33 22 5.44 6.20 6.51 6.82 7.13 7.44 7.75 8.07 8.39 8.72 9.05 9.39…arrow_forward
- Using this table as needed, calculate the required information for the mortgage. Amount Interest Financed Rate $88,500 8.00% Need Help? Read It Submit Answer Term of Loan (years) 30 Number of $1,000s Financed 88.5 Table Factor (in $) 7.34 Monthly Payment (in $) X LA Total Interest (in $) Xarrow_forwardLoan payment Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Principal $7,000 Interest rate 13% ... The amount of the equal, annual, end-of-year payment, CF, is $ Term of loan (years) 29 (Round to the nearest cent.)arrow_forwardUsing this table as needed, calculate the required information for the mortgage. Number Table Monthly Payment (in $) Term Total Amount Interest of Loan of $1,000s Financed Factor Interest Financed Rate (years) (in $) (in $) $78,500 8.00% 30arrow_forward
- Take a look at the chart pls..arrow_forwardUsing this table as needed, calculate the required information for the mortgage. AmountFinanced InterestRate Termof Loan(years) Numberof $1,000sFinanced TableFactor(in $) MonthlyPayment(in $) TotalInterest(in $) $89,500 8.00% 30 $ $ $arrow_forwardFind the amount (in $) of interest and the maturity value of the loans. Use the formula MV = P + I to find the maturity value. (Round your answers to two decimal places.) Principal Rate (%) Maturity Value $145,000 15-/1/2 Time 8 months $ Interest $arrow_forward
- Answer in typingarrow_forwardAmortization Table - Breaking Down Your Payment - No video This worksheet requires you to use the IPMT and PPMT funtions to calculate the loan balance, and the principle/interest portion of a loan payment at any given point in time. Be sure to use cell references. Initial Balance $10,000.00 Annual Interest Rate 10% Years 10 Annual Payemnt $1,627.45 Summary loan data for year 4 Balance at start of year Balance at end of year Interest paid during the year Principle paid during the yeararrow_forwardUse the following amortization chart: Selling priceof home Downpayment Principal(loan) Rate of interest Years Payment per$1,000 Monthly mortgage payment $ 95,000 $ 6,000 $ 89,000 6% 30 $ 6.00 $ 534.00 Assume the interest rate rises to 7.5%. What is the total cost of interest with the new interest rate? (Use Table 15.1.) (Do not round intermediate calculations. Round your final answer to the nearest cent.) Total Cost of Interestarrow_forward
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