Bha Given the following information, determine the remaining balance on the mortgage at the end of ten (10) years.Amortization: 15 years, fully-amortizingPayments: Monthly, fixed paymentsOriginal principal balarice: $183,470Annual interest rate: 6.0%OA. $77,574OB. $62,688OC. $92,893OD. $177,913OE $80,083

Amortization refers to the schedule describing the interest, principal, periodic payments, and…

Answered: Given the following information,…

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

See similar textbooks

Similar questions

calculate the payment amounts when the mortgage is below are renewed for a second term. Assume interest rates are fixed and compounded semi annually, and that the amortization period is reduced appropriately upon renewal Original Amortization Principal Period (Years) $336,362 First-Term Information Second-Term Information New Payment 25 8.75% 5% 0.00 Monthly payments Weekly payments 3-year term 4-year term $652,731 30 9% 4.75% 0.00 Biweekly payments Biweekly payments 4-year term 4-year term $705,122 20 4.75% 3.75% 0.00 Weekly payments Biweekly payments 3-year term 5-year term
APPLICATION A mortgage of P 80 000 is to be paid by annual payment over a period of 10 years. If the interest rate is 15.8% effective. a) calculate the annual payment; b) construct an amortization schedule; c) find the total payment made; d) find the total interest paid
2. A mortgage has the following terms: Amount: $750,000 Rate: 6.25% Amortization (Years): 30 Term (Years): 20 Please determine the following: A. What is the Monthly Payment? B. In preparing an Income Statement, what is the Interest Expense for years 1-5? C. What is the Principal Balance at the end of year 6? D. What is the value of the loan at the expiration? E. If rates remain constant (flat), what would the benefit be to refinance this loan after year 10?
1. Complete an amortization schedule for the following loan. The loan amount is $100,000 at 4.5% interest, amortized on a yearly basis over five (5) years.
Determine the equal, annual, end of year payment required for each year over the life of the loan shown in the following table to repay it fully during teh stated term of the loan. Principal: $43,000 Interest Rate: 7% Term of Loan (years): 21 The amount of the equal, annual, end of year payment, CF is?
assume a 30-year $200,000 mortgage loan with an apr of 7%. what is the amount of interest and principal, respectively applied from the first annual fixed payment? a) $7,000; $133.33 b)$133.33; $7,000 c)$14,000; $2,177.28 d) $2,177.28; $14,000
A fully amortizing mortgage loan is made for $84,000 at 6 percent interest for 25 years. Payments are to be made monthly. Required: a. Calculate monthly payments. b. Calculate interest and principal payments during month 1. c. Calculate total principal and total interest paid over 25 years. d. Calculate the outstanding loan balance if the loan is repaid at the end of year 10. e. Calculate total monthly interest and principal payments through year 10. f. What would the breakdown of interest and principal be during month 50?
Complete the first month of the amortization schedule for a fixed-rate mortgage. Mortgage: $117,000 Interest rate: 8.0% Term of loan: 25 years Payment Number Total Payment Interest Payment Principal Payment Balance of Principal 1 (a) $nothing (b) $nothing (b) $nothing (d)
For each of the mortgages described in problems 6 through 12, create a partial amortization schedule with the rows for the first four payments completed. Assume monthly payments for all problems. 6. P=S 350,000, 30 years, 6.95% interest
Consider the first payment against a $200,000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below. Payment # Payment Interest 1 d 716.67 2 Debt Payment Balance P1 b₁
Make an amortization table to show the first two payments for the mortgage. Amount of Annual interest rate Years in mortgage Monthly payment mortgage $85,000 6.00% 25 $547.40 End-of-month principal Monthly Month Interest Principal payment 1 $547.40 24 %$4 2 $547.40 (Round to the nearest cent as needed.)
Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 Fill out the amortization schedule below. Annual Interest Rate Payment Interest Paid Paid on Principal Balance 5.4% $289.80 $21.30 $268.50 $4,464.20 $______ $_______ $_______ $_____ (Round to nearest cent as needed)

SEE MORE QUESTIONS

Recommended textbooks for you

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Essentials Of Investments

Finance

ISBN:

9781260013924

Author:

Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:

Mcgraw-hill Education,

FUNDAMENTALS OF CORPORATE FINANCE

Finance

ISBN:

9781260013962

Author:

BREALEY

Publisher:

RENT MCG

Financial Management: Theory & Practice

Finance

ISBN:

9781337909730

Author:

Brigham

Publisher:

Cengage

Foundations Of Finance

Finance

ISBN:

9780134897264

Author:

KEOWN, Arthur J., Martin, John D., PETTY, J. William

Publisher:

Pearson,

Fundamentals of Financial Management (MindTap Cou…

Finance

ISBN:

9781337395250

Author:

Eugene F. Brigham, Joel F. Houston

Publisher:

Cengage Learning

Corporate Finance (The Mcgraw-hill/Irwin Series i…

Finance

ISBN:

9780077861759

Author:

Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Given the following information, determine the remaining balance on the mortgage at the end of ten (10) y Amortization: 15 years, fully-amortizing Payments: Monthly, fixed payments Original principal balarice: $183,470 Annual interest rate: 6.0% OA. $77,574 OB. $62,688 OC. $92,893