Bob Jones bought a new log cabin for $81,000 at 10% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.)
Portion to— | |||
Payment number | Interest | Principal | Balance of loan outstanding |
1 | $ | $ | $ |
2 | $ | $ | $ |
3 | $ | $ | $ |
Bob Jones bought a new log cabin for $81,000 at 10% interest for 30 years. Prepare...
Joe Levi bought a home in Arlington, Texas, for $126,000. He put
down 30% and obtained a mortgage for 30 years at 7.00%. What is the
difference in interest cost if he had obtained a mortgage rate of
5.00%? (Use Table 15.1.) (Use 360 days a
year. Round your intermediate values and final answer to the
nearest cent.)
Difference
$
TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) INTEREST Term in years 34% 5% 5% 6% 6% 7%...
Joe Levi bought a home in Arlington, Texas, for $126,000. He put
down 30% and obtained a mortgage for 30 years at 7.00%. What is the
difference in interest cost if he had obtained a mortgage rate of
5.00%? (Use Table 15.1.) (Use 360 days a
year. Round your intermediate values and final answer to the
nearest cent.)
Difference
$
15.1 TABLE Amortization table (mortgage principal and interest per $1,000) INTEREST Term 8/% 31% s% 61% 7% 92% 102% 10%...
Edit question
Joe Levi bought a home in Arlington, Texas, for $135,000. He put
down 30% and obtained a mortgage for 30 years at 5.00%. (Use Table
15.1.)
. What is Joe’s monthly payment?
(Round your intermediate values and final
answer to the nearest cent.)
Monthly payment
$
b. What is the total interest cost of the loan?
(Use 360 days a year. Round your
intermediate values and final answer to the nearest
cent.)
Total interest cost
$
TABLE 15.1...
Daniel and Jan agreed to pay $544,000 for a four-bedroom
colonial home in Waltham, Massachusetts, with a $70,000 down
payment. They have a 30-year mortgage at a fixed rate of 6.00%.
a. How much is their monthly payment?
(Do not round intermediate calculations. Round your answer
to the nearest dollar amount.)
Monthly payment
$
b. After the first payment, what would be the
balance of the principal? (Do not round intermediate
calculations. Round your answers to the nearest dollar
amount.)...
Bob Jones bought a new log cabin for $82.000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Portion to Payment Number Balance of loan outstanding Interest Principal 1 2 3 s
Bob Jones bought a new log cabin for $64,000 at 10.5% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.)
3 You have a mortgage of $73,000 at 9.75% for 30 years. Find the
monthly payment and the total interest. Use Table 14-1 and enter
the total interest as your answer.
TABLE 14-1 Monthly Payments to Amortize Principal and Interest per $1,000 Financed Interest Rate(%) 3.50 3.75 4.18 4.50 4.00 4.25 4.50 4.75 5.00 5.25 5.50 8.04 6.00 5.53 5.75 6.00 6.25 6.50 6.75 7.00 7.07 7.25 SO Monthly Payments (Necessary to amortize a loan of $1,000) 5 10 15...
Sharon Fox decided to buy a
home in Marblehead, Massachusetts, for $272,000. Her bank requires
a 20% down payment. Sue Willis, an attorney, has notified Sharon
that besides the 20% down payment there will be the following
additional costs: (Use Table 15.1.). Recording of the deed $27.00 A
credit and appraisal report 152.00 Preparation of appropriate
documents 45.00 Other closing expenses include a transfer tax of
2.0% of the purchase price and a loan origination fee of 2.0% of
the...