Homework Answers
E.amortization schedule.
The amortiztion schedule will break down the interest and principal payments of monthly mortgage payments over life of the loan.
The payments in a graduated payment schedule will increase in the later periods.
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Question 19 1 pts The breakdown the interest and principal payments of monthly mortgage payments over...
Mortgage Amortization Complete the loan amortization schedule for a Mortgage that will be repaid over 360...
Mortgage Amortization Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): Correct Answers 1. What is your monthly payment? 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 3. How many months will it take to pay off the loan if you pay an extra $465.71 per month? Note: Enter the...
In a fixed-rate mortgage amortization schedule of monthly mortgage payments A. The amount of interest in...
In a fixed-rate mortgage amortization schedule of monthly mortgage payments A. The amount of interest in each payment is equal to the amount of principal paid B. Both B and C are true C. In the early years, principal repayment exceeds interest payments D. In the early years, interest payments exceed principals repayments
Ashley makes monthly mortgage payments of $925.00. This year she was able to make an additional payment to principal of...
Ashley makes monthly mortgage payments of $925.00. This year she was able to make an additional payment to principal of $7,000.00. This decrease in principal will cause: an increase in the proportion of total interest paid over the life of the loan a decrease in the number of payments Ashley will need to make this year a decrease in both the term of the loan and the total interest paid over the life of the loan an increase in the...
Question 12 1 pts When looking at a loan amortization schedule for a standard mortgage, car...
Question 12 1 pts When looking at a loan amortization schedule for a standard mortgage, car loan, etc., which of the following values increases as time goes on? Monthly payment Principal portion of monthly payment Interest portion of monthly payment Remaining principal balance on loan
A $198,000 mortgage amortized by monthly payments over 20 years is renewable after five years. Interest...
A $198,000 mortgage amortized by monthly payments over 20 years is renewable after five years. Interest is 4.65% compounded semi-annually. Complete parts (a) though (e) below. (a) What is the size of the monthly payments? The size of a monthly payment is $ (Round to the nearest cent as needed.) (b) How much interest is paid during the first year? The interest paid in the first year is $ (Round to the nearest cent as needed.) (c) ow much of...
should be explain it on excel Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and...
should be explain it on excel
Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (c) Assume monthly car...
What are the monthly payments (principal and interest) on a 30-year home mortgage for an $130,000...
What are the monthly payments (principal and interest) on a 30-year home mortgage for an $130,000 loan when interest rates are fixed at 6 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) Monthly payments
You borrow $100,000 on a mortgage loan. The loan requires monthly payments for the next 30...
You borrow $100,000 on a mortgage loan. The loan requires monthly payments for the next 30 years. Your annual loan rate is 4.25%. The loan is fully amortizing. What is your monthly payment? Round your answer to 2 decimal places. 2. You borrow $100,000 on a mortgage loan. The loan requires monthly payments for the next 30 years. Your annual loan rate is 4.25%. The loan is fully amortizing. What is your Month 1 interest payment? Round your answer to...
What are the monthly payments (principal and interest) on a 15-year home mortgage for an $180,000...
What are the monthly payments (principal and interest) on a 15-year home mortgage for an $180,000 loan when interest rates are fixed at 8 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
What are the monthly payments (principal and interest) on a 15-year home mortgage for an $160,000...
What are the monthly payments (principal and interest) on a 15-year home mortgage for an $160,000 loan when interest rates are fixed at 7 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
Mortgage Amortization Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): Correct Answers 1. What is your monthly payment? 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 3. How many months will it take to pay off the loan if you pay an extra $465.71 per month? Note: Enter the...
Question 12 1 pts When looking at a loan amortization schedule for a standard mortgage, car loan, etc., which of the following values increases as time goes on? Monthly payment Principal portion of monthly payment Interest portion of monthly payment Remaining principal balance on loan
A $198,000 mortgage amortized by monthly payments over 20 years is renewable after five years. Interest is 4.65% compounded semi-annually. Complete parts (a) though (e) below. (a) What is the size of the monthly payments? The size of a monthly payment is $ (Round to the nearest cent as needed.) (b) How much interest is paid during the first year? The interest paid in the first year is $ (Round to the nearest cent as needed.) (c) ow much of...
should be explain it on excel
Solve all of the following problems with Excel. Please use formulas in excel to solve. (2) (10 pts) (a) Assume monthly car payments of $500 per month for 4 years and an interest rate of 0.75% per month. 1. What initial principal will this repay? (b) Assume annual car payments of $6000 for 4 years and an interest rate of 9% per year. 1. What initial principal will this repay? (c) Assume monthly car...
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