Create an amortization schedule using the following assumptions: | |
Purchase Price | $280,000 |
Down Payment | 5% |
Loan Amount | 266000 |
Interest Rate | 11% |
Loan Term | 30 Year - Fixed |
Balance @ | End of Year 5 |
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Create an amortization schedule using the following assumptions: Loan term: 25 year - fixed Purchase price: $130,000 Down payment: 5% Interest rate: 12% $130,000 $123,500 $114,000 QUESTION 10 Using the assumptions in question #9, what is the loan balance in year 2? $122,151 $122,547 $123,500 none of the above
The purpose of this question is to give you experience creating an amortization schedule for a loan. As noted by Investopedia: ‘An amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term. While each periodic payment is the same amount early in the schedule, the majority of each payment is interest; later in the...
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Loan Amortization Schedule You purchase a fully loaded Honda Accord with an MSRP of $32,000 for $27,000. You pay the 3% tax of $810 up front and put down $5,000. The dealer offers a simple interest installment loan with an annual rate of 5% for 3 years. The projected resale value of the car after 2 years is $17,000. Compute the loan value and monthly loan payments. (10 pts) Create a monthly amortization schedule over the entire loan period. (10...
please answer correctly. Thanks Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $5,300, paid monthly over two years using an APR of 8 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) Month Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance
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Complete the first two months of each amortization schedule for a fixed-rate mortgage. Mortgage, $145,200; Interest rate, 7.4%; Term of loan, 12 years Fill out the amortization schedule below and round all values to the nearest cent. Payment Number Total Payment Interest Payment Principal Payment Balance of Principal $145,200 (d) $ (a) $ (b) $ (c)$| |
- a Amazon Twitch PayPal BlackBoard Saved Problem 5-50 Amortization Schedule (LG5-9) Create the amortization schedule for a loan of $4,600. paid monthly over two years using an APR of 9 percent. Enter the data for the first three months. (Round your answers to 2 decimal places.) Month Beginning Balance Total Payment Interest Paid Principal Paid Ending Balance
Calculate a 30 year amortization schedule in excel for the purchase of an office building. Here are the details: The building costs $250,000. You are able to obtain a mortgage loan for 90% of the value. You must come up with cash for the remaining 10% The mortgage loan is a fixed rate loan at 6% interest per year using simple interest with a 30/360 formula. Problem 1 - Calculate the monthly payment of the loan. Problem 2 - Prepare...