Question

If anyone have a short aswer for this Q it will be better and thank you ❤️

6–32. (Calculating the components of an annuity payment) You have just bought a house inom do for €270,000 by taking a 20-year mortgage for the same amount at 8 percent per an- num payable in monthly installments. What will your monthly payments be? Use a spreadsheet to calculate your answer. Now calculate the amounts in the 50th monthly payment that goes toward interest and principal, respectively.

Answer 1

rate positively .. let me knw if you need any clarification..

Ans a
	Given that =
	FV		0
	PV		-270000
	I	8%/12	0.6667%
	N	20*12	240
	Compute PMT		$2,258.39
	therefore monthly payment=			$2,258.39
Ans b	Computation of 50th Payment
	we have to prepare amoritzation schedule
	Period	Beginning	Interest	Payment	Clo balance
	1	270,000.00	1,800.00	2,258.39	269,541.61
	2	269,541.61	1,796.94	2,258.39	269,080.17
	3	269,080.17	1,793.87	2,258.39	268,615.65
	4	268,615.65	1,790.77	2,258.39	268,148.03
	5	268,148.03	1,787.65	2,258.39	267,677.30
	6	267,677.30	1,784.52	2,258.39	267,203.42
	7	267,203.42	1,781.36	2,258.39	266,726.39
	8	266,726.39	1,778.18	2,258.39	266,246.18
	9	266,246.18	1,774.97	2,258.39	265,762.76
	10	265,762.76	1,771.75	2,258.39	265,276.13
	11	265,276.13	1,768.51	2,258.39	264,786.25
	12	264,786.25	1,765.24	2,258.39	264,293.10
	13	264,293.10	1,761.95	2,258.39	263,796.67
	14	263,796.67	1,758.64	2,258.39	263,296.92
	15	263,296.92	1,755.31	2,258.39	262,793.85
	16	262,793.85	1,751.96	2,258.39	262,287.42
	17	262,287.42	1,748.58	2,258.39	261,777.61
	18	261,777.61	1,745.18	2,258.39	261,264.41
	19	261,264.41	1,741.76	2,258.39	260,747.78
	20	260,747.78	1,738.32	2,258.39	260,227.71
	21	260,227.71	1,734.85	2,258.39	259,704.18
	22	259,704.18	1,731.36	2,258.39	259,177.15
	23	259,177.15	1,727.85	2,258.39	258,646.61
	24	258,646.61	1,724.31	2,258.39	258,112.53
	25	258,112.53	1,720.75	2,258.39	257,574.89
	26	257,574.89	1,717.17	2,258.39	257,033.67
	27	257,033.67	1,713.56	2,258.39	256,488.84
	28	256,488.84	1,709.93	2,258.39	255,940.38
	29	255,940.38	1,706.27	2,258.39	255,388.26
	30	255,388.26	1,702.59	2,258.39	254,832.46
	31	254,832.46	1,698.88	2,258.39	254,272.96
	32	254,272.96	1,695.15	2,258.39	253,709.72
	33	253,709.72	1,691.40	2,258.39	253,142.73
	34	253,142.73	1,687.62	2,258.39	252,571.96
	35	252,571.96	1,683.81	2,258.39	251,997.38
	36	251,997.38	1,679.98	2,258.39	251,418.98
	37	251,418.98	1,676.13	2,258.39	250,836.72
	38	250,836.72	1,672.24	2,258.39	250,250.57
	39	250,250.57	1,668.34	2,258.39	249,660.52
	40	249,660.52	1,664.40	2,258.39	249,066.54
	41	249,066.54	1,660.44	2,258.39	248,468.59
	42	248,468.59	1,656.46	2,258.39	247,866.66
	43	247,866.66	1,652.44	2,258.39	247,260.72
	44	247,260.72	1,648.40	2,258.39	246,650.74
	45	246,650.74	1,644.34	2,258.39	246,036.69
	46	246,036.69	1,640.24	2,258.39	245,418.54
	47	245,418.54	1,636.12	2,258.39	244,796.28
	48	244,796.28	1,631.98	2,258.39	244,169.86
	49	244,169.86	1,627.80	2,258.39	243,539.28
	50	243,539.28	1,623.60	2,258.39	242,904.48
	therefore 50th intesest =			1,623.60
	therefore 50th principle =			634.79