www. FUN 3 5 16 - I a 10 12 21 22 LD 7 Interest rate Loan term Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Loan amount $ 67,500 7% 5 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. Loan payment S 16,462.62 Year Beginning balance 12345 Total payment Interest paid Principal paid Ending balance Total interest paid

www. FUN 3 5 16 - I a 10 12 21 22 LD 7 Interest rate Loan term Prepare an amortization schedule for a five-year loan of $67,500. The interest rate is 7 percent per year, and the loan calls for equal annual payments. How much total interest is paid over the life of the loan? Loan amount $ 67,500 7% 5 Complete the following analysis. Do not hard code values in your calculations. All answers should be positive. Loan payment S 16,462.62 Year Beginning balance 12345 Total payment Interest paid Principal paid Ending balance Total interest paid

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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Use the following amortization chart: Selling price of home Down payment $ 5,000 Rate of Monthly mortgage Principal (loan) $78,000 Payment per $1,000 $ 5.37 interest Years payment $ 83,000 5% 30 $418.86 Assume the interest rate rises to 6.5%. 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 interest TABLE 15-1 Amortization table (mortgage principal and interest per $1.000) INTEREST Term In years 31% 5% 51% 6% 6% 7% 7% 8% 81% 9% 10% 10% 11% 10 9.89 10.61 10.86 11.11 11.36 11.62 1.88 12.14 12.40 12.67 12.94 13.22 13.50 13.78 12 8.52 9.25 951 976 10.02 10.29 10,56 10.83 11.11 11.39 11.67 11.06 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 1137 17 6.52 7.29 P.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…
Construct an amortization schedule (monthly) with the followings: House Price: 700,000 Down Payment: 20% of House Price Loan Period: 30 years Interest rate: 5.78% To get full credit, you must use Excel functions with relative cells to change the amortization schedule with variables such as price, interest, and load period. Please submit your Excel spreadsheet. (No other files are accepted)
I need the excel function typed out? Example =RATE???? G. Find the interest rate (APR) on a 27-year mortgage with a initial loan amount of $358,000, if the monthly payment is $2229.45 Let's use references for input values; and be sure to annualize the rate! INPUTS: OUTPUT: Period 27 Rate is APR Payment 2229.45 Loan amount 358000
Use the following amortization chart: Selling price of home Down payment Principal (loan) Rate of interest Years Payment per $1,000 Monthly mortgage payment $ 79,000 $ 6,000 $ 73,000 6% 30 $ 5.9955 $ 437.67 Assume the interest rate rises to 7.5%. What is the total cost of interest with the new interest rate? (Use Table 15.1). Note: Round your intermediate calculations and final answer to the nearest cent. Total cost of interest: ????? The answer is NOT $110,753.57 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…
Use aspreadsheet to create amortization schedules for the following five scenarios.What happens to the total interest paid under each scenario?a. Scenario 1:Loan amount: $1 millionAnnual rate: 5 percentTerm: 360 monthsPrepayment: $0b. Scenario 2: Same as 1, except annual rate is7 percentc. Scenario 3: Same as 1, except term is 180monthsd. Scenario 4: Same as 1, except prepayment is$250 per monthe. Scenario 5: Same as 1, except loan amount is$125,000
Use an amortization table to solve the problem. Round to the nearest cent. A 7000 debt is to be amortized in 15 equal payments of 504.87 at 1% interest per month on the unpaid balance. What is the unpaid balance after the second payment? Show your table belove include columns for each of the following Loan Balance Payment Interest amount amount principle decrease new balance
Use 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 Interest
You have taken out a $7.500,000 loan with a 4% interest rate, 30 year amortization and ten year term. What is the loan balance after the final loan payment? a. 50 b. $7.390,303 c Cannot determine with information provided d. $5,908,797
Consider a 4-year amortizing loan. You borrow $2,400 initially and repay it in four equal annual year-end payments. a. If the interest rate is 10%, what is the annual payment? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Annual payment $ ✓Answer is complete and correct. Time b. Prepare an amortization schedule. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required. 1 2 3 4 Loan Balance (S) 2,400.00 2,400.00 757.13 1,882.87 x 1,314.03 688 Answer is complete but not entirely correct. Year-End Interest Due on Loan Balance (5) 240.00 188.29 131.40 68.83 Total Year- End Payment ($) 10 757.13 757.13 757.13 757.13 Amortization of Loan (S) 0 517.13 568.84 625.73 688.30
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $80,000 for 3 years at 9% compounded annually Period Payment Interest Balance Reduction Unpaid Balance $80,000 %24 2 24 %$4 $0.00 Need Help? Read it 3.
In an amortization table for a four-year loan of $45,280, given an interest rate of 11%, how much will the principal payment be in the second year if the loan calls for equal payments? Select one: a.$15222.90 O b.$10,448.32 O c.$15,593 d.$10,671.69
Use the following amortization chart: Selling priceof home Downpayment Principal(loan) Rate of interest Years Payment per$1,000 Monthly mortgage payment $ 81,000 $ 4,000 $ 77,000 5.5% 30 $ 5.68 $ 437.36 Assume the interest rate rises to 7.0%. 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.)

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