Your brother's garden supplies business obtained a 30-year amortized mortgage loan for $250,000 at anominal annual rate (APR) of 7.0%, with 360 end-of-month payments. What is his monthly loan payment? What is the balance on his loan at the end of the first month? Please show work in excel

Guadalupe has a mortgage of $581,000 through her bank for property purchased. The loan is repaid by end of month payments of $3,577.53 with an interest rate of 4.53% compounded monthly over 21 years. What is the interest paid in the 2nd year of the mortgage?Interest paid in 2nd year =   TVM FORMULA

Gabrielle received a loan at 6% p.a. simple interest for 8 months. If he was charged an interest of $ 272.00 at the end of the period, what was the principal amount of the loan?

Wade Ellis buys a new car for $16,447.22. He puts 10% down and obtains a simple interest amortized loan for the rest at at 11.5% interest for four years. (Round your answers to the nearest cent.)   (a) Find his monthly payment.$ (b) Find the total interest.$ (c) Prepare an amortization schedule for the first two months of the loan. PaymentNumber PrincipalPortion InterestPortion TotalPayment Balance 0       $ 1 $ $ $ $ 2 $

An employee contributes $15,900 to a 401(k) plan each year, and the company matches 10 percent of this annually, or $1,590. The employee can allocate the contributions among equities (earning 12 percent annually), bonds (earning 4 percent annually), and money market securities (earning 2 percent annually). The employee expects to work at the company 20 years. The employee can contribute annually along one of the three following patterns: Equities Bonds Money market securities Option 1 70% 30 0 100% Option 1 Option 2 Option 3 Option 2 60% 35 5 100% Option 3 50% 40 10 100% Calculate the terminal value of the 401(k) plan for each of the 3 options, assuming all returns and contributions remain constant over the 20 years. (Do not round intermediate calculations. Round your answers to the nearest whole number. (e.g., 32))

As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI (in $), using this table and the monthly PITI (in $) for the mortgage. (Round dollars to the nearest cent.) Term of Loan (years) Annual Monthly PITI Amount Interest Monthly PI Property Annual Insurance Financed Rate Tax $124,700 6.75% 15 $2,370 $1,355 Prepare an amortization schedule for the first 3 payments (in $) of a $78,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.) Payment Number Monthly Payment Monthly Interest Portion Used to Reduce Principal Loan Balance $| $| 1 24 24 2 %24 Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Table Monthly Payment (in $) Term Number Total Amount Interest of $1,000s Financed of Loan Factor Interest Financed Rate (years) (in $) (in $) $162,300 7.25% 15 $ $ $

Assume an elderly couple owns a $400,000 home that is free and clear of mortgage debt. A reverse annuity mortgage (RAM) lender has agreed to a $300,000 RAM. The loan term is 15 years, the contract is 5.25%, and payments will be made at the end of each month. What portion of the loan balance at the end of year 15 represents interest (rounded to thousands)? Excel a) $95,000 O b) $102,000 O c) $174,000 d) $198,000 e) $205,000

Kia deposited $1,300, at the BEGINNING of each year for 26 years in a credit union account. If the account paid 8% interest, compounded annually, use the appropriate formula to find the future value of her account. $95,037.72$103,940.74     $112,256.00$113,556.00

Marcel Thiessen purchased a home for $205, 700 and obtained a 15-year, fixed - rate mortgage at 10% after paying a down payment of 10%. Of the first month's mortgage payment, how much is interest and how much is applied to the principal? (Round your answer to the nearest cent.)

Leona purchased a home and obtained a 25 year loan of 437,750$ at an annual interest rate of 6.5%. Find the amount of interest paid on the loan over the 25 years. Round answer to nearest cent.