You plan to purchase a $320,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.20percent. You will make a down payment of 15 percent of the purchase price.a. Calculate your monthly payments on this mortgage.b. (1) Construct the amortization schedule for the mortgage.b. (2) How much total interest is paid on this mortgage?Answer is not complete.Complete this question by entering your answers in the tabs below.Req AReq B1AmortizationScheduleMonth123179180Construct the amortization schedule for the mortgage? (Do not round intermediate calculations. Round your answers to 2decimal places. (e.g., 32.16))Req 82 TotalInterestAmortization Schedule for the 15-Year MortgageInterestCumulativePrincipalPrincipal272,000.00270,999.26CumulativeInterestEndingBalance You plan to purchase a $320,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.20percent. You will make a down payment of 15 percent of the purchase price.a. Calculate your monthly payments on this mortgage.b. (1) Construct the amortization schedule for the mortgage.b. (2) How much total interest is paid on this mortgage?Answer is not complete.Complete this question by entering your answers in the tabs below.Req AReq B1AmortizationScheduleReq B2 TotalInterestHow much total interest is paid on this mortgage? (Do not round intermediate calculations. Round your answer to 2 decimalplaces. (e.g., 32.16))Total interest paid on the mortgage

The long-term loan that is taken by an individual person or an organization for the purchase of a…

You plan to purchase a $320,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.20 percent. You will make a down payment of 15 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. (1) Construct the amortization schedule for the mortgage. b. (2) How much total interest is paid on this mortgage? Answer is not complete. Complete this question by entering your answers in the tabs below. Req B1 Amortization Schedule Construct the amortization schedule for the mortgage? (D Req A Req B2 Total Interest,

You plan to purchase a $320,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.20 percent. You will make a down payment of 15 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. (1) Construct the amortization schedule for the mortgage. b. (2) How much total interest is paid on this mortgage? Answer is not complete. Complete this question by entering your answers in the tabs below. Req B1 Amortization Schedule Construct the amortization schedule for the mortgage? (D Req A Req B2 Total Interest,

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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Give typing answer with explanation and conclusion
Use PMT formula on the image uploaded to determine the regular payment amount, rounded to the nearest cent. The cost of a home is financed with a $150,000 20-year fixed-rate mortgage at 3.5%. a. Find the monthly payments and the total interest for the loan. b. Prepare a loan amortization schedule for the first three months of the mortgage. ______________________________________________________________ a. The monthly payment is $________.. (Do not round until the final answer. Then round to the nearest cent as needed.) - The total interest for the loan is $_______. (Use the answer from part a to find this answer. Round to the nearest cent as needed.) b. Fill out the loan amortization schedule for the first three months of the mortgage below. Payment Number Interest Principal Loan Balance 1 $ $ $ 2 $ $ $ 3 $ $ $ (Use the answer from part a to find these answers. Round to the…
Give typing answer with explanation and conclusion to all parts Your bank has pre-approved a mortgage for the purchase of a home. The bank calculates that you can make monthly payments of up to 40% of your salary, which is $78,000 annually. The bank charges a 1.5% closing fee on the mortgage which must be paid up-front (when the mortgage closes). The interest rate quoted on the mortgage is 6.60% per annum for a 25-year loan. a. Up to what net amount will the bank lend you? b. The APR of this loan is 6.60%, but what is the effective annual rate (EAR)? c. How much will still be due after 3 years?
A lender offers you a $125,000, 30 year mortgage with monthly payments of $769.65. What’s the interest rate?
2 . Please answer the whole answer there is more than one answer that needs to be answered
need a unique answer dont copy from other source
Please eolve this question on excell and show formulas please.
You are buying a new house. You take out a 30-year mortgage for $200,000. The annual interest rate of the loan is 4.5%. Calculate the monthly payment. Please in text form so that i can copy
please help me
1) The amount of down payment one makes on a home directly affects the size of the monthly payments a. True b. False 2) A monthly payment of $ 850 on a 30 year $ 80,000 mortgage results in a total cost of interest of $ 306,000. a. True b. False 3) What are the points on a mortgage?
You need a 30-year, fixed-rate mortgage to buy a new home for $400,000. Your mortgage bank will lend you the money at a 6 percent APR for a 360 month loan. You can only afford a monthly payment of $1000. How much downpayment should you put at the time of purchase? Please show your work using excel formulas.
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