Complete the following table, which shows the monthly payments on a $100,000, 30-year mortgage at the interest rat shown. Use this information to answer the following questions. (Round your answers to the nearest cent.) Amount of Mortgage ($) 100,000 100,000 100,000 100,000 100,000 100,000 $ Interest Rate (%) 3 4 5 6 7 8 Monthly Payment ($) 421.60 733.76 (a) What is the difference in monthly payments between a $100,000, 30-year mortgage secured at 7%/year and one secured at 3%/year? (b) Use the table to calculate the monthly mortgage payments on a $130,000 mortgage at 4%/year over 30 years. $ Use the table to calculate the monthly mortgage payments on a $80,000 mortgage at 4% / year over 30 years. $

Complete the following table, which shows the monthly payments on a $100,000, 30-year mortgage at the interest rat shown. Use this information to answer the following questions. (Round your answers to the nearest cent.) Amount of Mortgage ($) 100,000 100,000 100,000 100,000 100,000 100,000 $ Interest Rate (%) 3 4 5 6 7 8 Monthly Payment ($) 421.60 733.76 (a) What is the difference in monthly payments between a $100,000, 30-year mortgage secured at 7%/year and one secured at 3%/year? (b) Use the table to calculate the monthly mortgage payments on a $130,000 mortgage at 4%/year over 30 years. $ Use the table to calculate the monthly mortgage payments on a $80,000 mortgage at 4% / year over 30 years. $

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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Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Monthly Payment (in $) Term Number Table Total Amount Interest of Loan of $1,000s Financed Factor Interest Financed Rate (years) (in $) (in $) $162,300 7.25% 15 162.3 2$ $ 1481.5880 $ 104385.84 V
Complete the following table, which shows the monthly payments on a $100,000, 30-year mortgage at the interest rates shown. Use this information to answer the following questions. (Round your answers to the nearest cent.) Amount ofMortgage ($) InterestRate (%) MonthlyPayment ($) 100,000 3 421.60 100,000 4 100,000 5 100,000 6 100,000 7 100,000 8 733.76 (a) What is the difference in monthly payments between a $100,000, 30-year mortgage secured at 7%/year and one secured at 3%/year? $ (b) Use the table to calculate the monthly mortgage payments on a $170,000 mortgage at 4%/year over 30 years. $ Use the table to calculate the monthly mortgage payments on a $40,000 mortgage at 4%/year over 30 years.
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) AmountFinanced InterestRate Termof Loan(years) Numberof $1,000sFinanced TableFactor(in $) MonthlyPayment(in $) TotalInterest(in $) $168,300 7.25% 15 168.3 $ $ $
Find the total monthly payment, including taxes and insurance, for the given mortgage loan using the table. Calculator answers may be slightly different. (Round your answer to the nearest cent.) Amount Rate Time(Years) AnnualTaxes AnnualInsurance $183,000 5 1 2 % 15 $3000 $900
Using 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 $ $ $
Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.) Selling price of home Principal (loan) Payment per $1,000 Monthly mortgage payment Rate of Down payment Years interest 182,000 60,000 6.5 % 35 Σ %24 %24
Use this table to find the monthly mortgage payments, when necessary. Find the total interest for a mortgage of $116,500 at 7% for 30 years. $158,513.28 $162,401.00 $180,473.34 $270,509.00
Use the formula or a calculator application to find the total interest paid for the home mortgage of $276,835 at 4.633% interest for 30 years given that the monthly payment is $1,424.48. Total interest is S (Simplify your answer. Type an integer or decimal rounded to two decimal places as needed.)
Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.) Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $180,000 $40,000 7.5 % 35
Complete the following amortization chart by using Table 15.1. Note: Round your "Payment per $1,000" answer to 5 decimal places and other answers to the nearest cent. Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment 69 $ 82,000 $ 6,000 5.0 % 30 30
Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at an annual interest rate of 4.24%. (a) In which month does the amount of principal in a monthly payment first exceed the amount of interest? _____ (b) How much interest is repaid for the term of the loan? (Round your answer to the nearest cent.) _____$ (c) If the loan amount was $750,000 instead of $500,000, would the month in which the amount of principal in a monthly payment first exceeded the amount of interest change?
Using this table as needed, calculate the required information for the mortgage. Number Table Monthly Payment (in $) Term Total Amount Interest of $1,000s Financed of Loan Factor Interest Financed Rate (years) (in $) (in $) $74,500 8.00% $| 30

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