7A) Use excel to build a monthly amortization table for a 30-year 5% fix-rate mortgage on a $320,000 home, with a $15,000 down payment. [Please be good to the forests and cut and paste only the first and last few rows of the table, not the whole thing.]
7B) Using the amortization table you built for the previous question, answer the following [Again, just cut and paste the segment of the amortization table that helps you answer the question.]:
a. How much money will you still owe on the loan after making one full year of payments?
b. How much money will you still owe on the loan after making 15 full years of payments?
c. If you want to refinance after 8 years of making payments, how much financing would you need to secure from your bank to do so?
d. How much money can you expect to pay in interests alone during the full life of the mortgage?
1.
Loan Amortization Table
Month | EMI | Principal | Interest | Principal Outstanding |
1 | 1637.30595 | 366.4726 | 1270.833 | 304633.5274 |
2 | 1637.30595 | 367.9996 | 1269.306 | 304265.5278 |
3 | 1637.30595 | 369.5329 | 1267.773 | 303895.9949 |
4 | 1637.30595 | 371.0726 | 1266.233 | 303524.9222 |
5 | 1637.30595 | 372.6188 | 1264.687 | 303152.3035 |
6 | 1637.30595 | 374.1714 | 1263.135 | 302778.1321 |
7 | 1637.30595 | 375.7304 | 1261.576 | 302402.4017 |
8 | 1637.30595 | 377.2959 | 1260.01 | 302025.1058 |
9 | 1637.30595 | 378.868 | 1258.438 | 301646.2378 |
10 | 1637.30595 | 380.4466 | 1256.859 | 301265.7911 |
11 | 1637.30595 | 382.0318 | 1255.274 | 300883.7593 |
12 | 1637.30595 | 383.6236 | 1253.682 | 300500.1357 |
13 | 1637.30595 | 385.2221 | 1252.084 | 300114.9136 |
14 | 1637.30595 | 386.8271 | 1250.479 | 299728.0865 |
15 | 1637.30595 | 388.4389 | 1248.867 | 299339.6476 |
16 | 1637.30595 | 390.0574 | 1247.249 | 298949.5902 |
17 | 1637.30595 | 391.6827 | 1245.623 | 298557.9075 |
18 | 1637.30595 | 393.3147 | 1243.991 | 298164.5928 |
19 | 1637.30595 | 394.9535 | 1242.352 | 297769.6394 |
20 | 1637.30595 | 396.5991 | 1240.707 | 297373.0402 |
21 | 1637.30595 | 398.2516 | 1239.054 | 296974.7886 |
22 | 1637.30595 | 399.911 | 1237.395 | 296574.8776 |
23 | 1637.30595 | 401.5773 | 1235.729 | 296173.3003 |
24 | 1637.30595 | 403.2505 | 1234.055 | 295770.0498 |
25 | 1637.30595 | 404.9307 | 1232.375 | 295365.1191 |
26 | 1637.30595 | 406.618 | 1230.688 | 294958.5011 |
27 | 1637.30595 | 408.3122 | 1228.994 | 294550.1889 |
28 | 1637.30595 | 410.0135 | 1227.292 | 294140.1754 |
29 | 1637.30595 | 411.7219 | 1225.584 | 293728.4535 |
30 | 1637.30595 | 413.4374 | 1223.869 | 293315.0161 |
31 | 1637.30595 | 415.16 | 1222.146 | 292899.8561 |
32 | 1637.30595 | 416.8899 | 1220.416 | 292482.9662 |
33 | 1637.30595 | 418.6269 | 1218.679 | 292064.3393 |
34 | 1637.30595 | 420.3712 | 1216.935 | 291643.9681 |
35 | 1637.30595 | 422.1227 | 1215.183 | 291221.8453 |
36 | 1637.30595 | 423.8816 | 1213.424 | 290797.9637 |
37 | 1637.30595 | 425.6478 | 1211.658 | 290372.316 |
38 | 1637.30595 | 427.4213 | 1209.885 | 289944.8947 |
39 | 1637.30595 | 429.2022 | 1208.104 | 289515.6924 |
40 | 1637.30595 | 430.9906 | 1206.315 | 289084.7019 |
41 | 1637.30595 | 432.7864 | 1204.52 | 288651.9155 |
42 | 1637.30595 | 434.5896 | 1202.716 | 288217.3259 |
43 | 1637.30595 | 436.4004 | 1200.906 | 287780.9254 |
44 | 1637.30595 | 438.2188 | 1199.087 | 287342.7067 |
45 | 1637.30595 | 440.0447 | 1197.261 | 286902.662 |
46 | 1637.30595 | 441.8782 | 1195.428 | 286460.7838 |
47 | 1637.30595 | 443.7194 | 1193.587 | 286017.0645 |
48 | 1637.30595 | 445.5682 | 1191.738 | 285571.4963 |
49 | 1637.30595 | 447.4247 | 1189.881 | 285124.0716 |
50 | 1637.30595 | 449.289 | 1188.017 | 284674.7826 |
51 | 1637.30595 | 451.161 | 1186.145 | 284223.6216 |
52 | 1637.30595 | 453.0409 | 1184.265 | 283770.5807 |
53 | 1637.30595 | 454.9285 | 1182.377 | 283315.6522 |
54 | 1637.30595 | 456.8241 | 1180.482 | 282858.8281 |
55 | 1637.30595 | 458.7275 | 1178.578 | 282400.1006 |
56 | 1637.30595 | 460.6389 | 1176.667 | 281939.4617 |
57 | 1637.30595 | 462.5582 | 1174.748 | 281476.9035 |
58 | 1637.30595 | 464.4855 | 1172.82 | 281012.418 |
59 | 1637.30595 | 466.4209 | 1170.885 | 280545.9972 |
60 | 1637.30595 | 468.3643 | 1168.942 | 280077.6329 |
61 | 1637.30595 | 470.3158 | 1166.99 | 279607.317 |
62 | 1637.30595 | 472.2755 | 1165.03 | 279135.0416 |
63 | 1637.30595 | 474.2433 | 1163.063 | 278660.7983 |
64 | 1637.30595 | 476.2193 | 1161.087 | 278184.579 |
65 | 1637.30595 | 478.2035 | 1159.102 | 277706.3755 |
66 | 1637.30595 | 480.1961 | 1157.11 | 277226.1794 |
67 | 1637.30595 | 482.1969 | 1155.109 | 276743.9826 |
68 | 1637.30595 | 484.206 | 1153.1 | 276259.7765 |
69 | 1637.30595 | 486.2235 | 1151.082 | 275773.553 |
70 | 1637.30595 | 488.2495 | 1149.056 | 275285.3035 |
71 | 1637.30595 | 490.2839 | 1147.022 | 274795.0197 |
72 | 1637.30595 | 492.3267 | 1144.979 | 274302.693 |
73 | 1637.30595 | 494.3781 | 1142.928 | 273808.3149 |
74 | 1637.30595 | 496.438 | 1140.868 | 273311.8769 |
75 | 1637.30595 | 498.5065 | 1138.799 | 272813.3705 |
76 | 1637.30595 | 500.5836 | 1136.722 | 272312.7869 |
77 | 1637.30595 | 502.6693 | 1134.637 | 271810.1175 |
78 | 1637.30595 | 504.7638 | 1132.542 | 271305.3538 |
79 | 1637.30595 | 506.867 | 1130.439 | 270798.4868 |
80 | 1637.30595 | 508.9789 | 1128.327 | 270289.5079 |
81 | 1637.30595 | 511.0997 | 1126.206 | 269778.4082 |
82 | 1637.30595 | 513.2292 | 1124.077 | 269265.1789 |
83 | 1637.30595 | 515.3677 | 1121.938 | 268749.8112 |
84 | 1637.30595 | 517.5151 | 1119.791 | 268232.2962 |
85 | 1637.30595 | 519.6714 | 1117.635 | 267712.6248 |
86 | 1637.30595 | 521.8367 | 1115.469 | 267190.7881 |
87 | 1637.30595 | 524.011 | 1113.295 | 266666.7771 |
88 | 1637.30595 | 526.1944 | 1111.112 | 266140.5827 |
89 | 1637.30595 | 528.3869 | 1108.919 | 265612.1959 |
90 | 1637.30595 | 530.5885 | 1106.717 | 265081.6074 |
91 | 1637.30595 | 532.7993 | 1104.507 | 264548.8081 |
92 | 1637.30595 | 535.0192 | 1102.287 | 264013.7889 |
93 | 1637.30595 | 537.2485 | 1100.057 | 263476.5404 |
94 | 1637.30595 | 539.487 | 1097.819 | 262937.0534 |
95 | 1637.30595 | 541.7349 | 1095.571 | 262395.3185 |
96 | 1637.30595 | 543.9921 | 1093.314 | 261851.3263 |
97 | 1637.30595 | 546.2588 | 1091.047 | 261305.0676 |
98 | 1637.30595 | 548.5348 | 1088.771 | 260756.5328 |
99 | 1637.30595 | 550.8204 | 1086.486 | 260205.7124 |
100 | 1637.30595 | 553.1155 | 1084.19 | 259652.5969 |
101 | 1637.30595 | 555.4201 | 1081.886 | 259097.1767 |
102 | 1637.30595 | 557.7344 | 1079.572 | 258539.4424 |
103 | 1637.30595 | 560.0583 | 1077.248 | 257979.3841 |
104 | 1637.30595 | 562.3918 | 1074.914 | 257416.9922 |
105 | 1637.30595 | 564.7351 | 1072.571 | 256852.2571 |
106 | 1637.30595 | 567.0882 | 1070.218 | 256285.1689 |
107 | 1637.30595 | 569.4511 | 1067.855 | 255715.7178 |
108 | 1637.30595 | 571.8238 | 1065.482 | 255143.894 |
109 | 1637.30595 | 574.2064 | 1063.1 | 254569.6876 |
110 | 1637.30595 | 576.5989 | 1060.707 | 253993.0887 |
111 | 1637.30595 | 579.0014 | 1058.305 | 253414.0873 |
112 | 1637.30595 | 581.4139 | 1055.892 | 252832.6734 |
113 | 1637.30595 | 583.8365 | 1053.469 | 252248.8369 |
114 | 1637.30595 | 586.2691 | 1051.037 | 251662.5678 |
115 | 1637.30595 | 588.7119 | 1048.594 | 251073.8558 |
116 | 1637.30595 | 591.1649 | 1046.141 | 250482.691 |
117 | 1637.30595 | 593.6281 | 1043.678 | 249889.0629 |
118 | 1637.30595 | 596.1015 | 1041.204 | 249292.9614 |
119 | 1637.30595 | 598.5853 | 1038.721 | 248694.3761 |
120 | 1637.30595 | 601.0794 | 1036.227 | 248093.2967 |
121 | 1637.30595 | 603.5839 | 1033.722 | 247489.7128 |
122 | 1637.30595 | 606.0988 | 1031.207 | 246883.614 |
123 | 1637.30595 | 608.6242 | 1028.682 | 246274.9898 |
124 | 1637.30595 | 611.1602 | 1026.146 | 245663.8296 |
125 | 1637.30595 | 613.7067 | 1023.599 | 245050.123 |
126 | 1637.30595 | 616.2638 | 1021.042 | 244433.8592 |
127 | 1637.30595 | 618.8315 | 1018.474 | 243815.0277 |
128 | 1637.30595 | 621.41 | 1015.896 | 243193.6177 |
129 | 1637.30595 | 623.9992 | 1013.307 | 242569.6184 |
130 | 1637.30595 | 626.5992 | 1010.707 | 241943.0192 |
131 | 1637.30595 | 629.21 | 1008.096 | 241313.8092 |
132 | 1637.30595 | 631.8317 | 1005.474 | 240681.9775 |
133 | 1637.30595 | 634.4644 | 1002.842 | 240047.5131 |
134 | 1637.30595 | 637.108 | 1000.198 | 239410.4051 |
135 | 1637.30595 | 639.7626 | 997.5434 | 238770.6425 |
136 | 1637.30595 | 642.4283 | 994.8777 | 238128.2142 |
137 | 1637.30595 | 645.1051 | 992.2009 | 237483.1092 |
138 | 1637.30595 | 647.793 | 989.513 | 236835.3162 |
139 | 1637.30595 | 650.4921 | 986.8138 | 236184.824 |
140 | 1637.30595 | 653.2025 | 984.1034 | 235531.6215 |
141 | 1637.30595 | 655.9242 | 981.3818 | 234875.6973 |
142 | 1637.30595 | 658.6572 | 978.6487 | 234217.0401 |
143 | 1637.30595 | 661.4016 | 975.9043 | 233555.6385 |
144 | 1637.30595 | 664.1575 | 973.1485 | 232891.481 |
145 | 1637.30595 | 666.9248 | 970.3812 | 232224.5563 |
146 | 1637.30595 | 669.7036 | 967.6023 | 231554.8526 |
147 | 1637.30595 | 672.4941 | 964.8119 | 230882.3586 |
148 | 1637.30595 | 675.2961 | 962.0098 | 230207.0624 |
149 | 1637.30595 | 678.1099 | 959.1961 | 229528.9526 |
150 | 1637.30595 | 680.9353 | 956.3706 | 228848.0173 |
151 | 1637.30595 | 683.7725 | 953.5334 | 228164.2447 |
152 | 1637.30595 | 686.6216 | 950.6844 | 227477.6231 |
153 | 1637.30595 | 689.4825 | 947.8234 | 226788.1406 |
154 | 1637.30595 | 692.3554 | 944.9506 | 226095.7853 |
155 | 1637.30595 | 695.2402 | 942.0658 | 225400.5451 |
156 | 1637.30595 | 698.137 | 939.1689 | 224702.4081 |
157 | 1637.30595 | 701.0459 | 936.26 | 224001.3621 |
158 | 1637.30595 | 703.9669 | 933.339 | 223297.3952 |
159 | 1637.30595 | 706.9001 | 930.4058 | 222590.4951 |
160 | 1637.30595 | 709.8456 | 927.4604 | 221880.6495 |
161 | 1637.30595 | 712.8032 | 924.5027 | 221167.8463 |
162 | 1637.30595 | 715.7733 | 921.5327 | 220452.073 |
163 | 1637.30595 | 718.7556 | 918.5503 | 219733.3174 |
164 | 1637.30595 | 721.7505 | 915.5555 | 219011.5669 |
165 | 1637.30595 | 724.7578 | 912.5482 | 218286.8091 |
166 | 1637.30595 | 727.7776 | 909.5284 | 217559.0316 |
167 | 1637.30595 | 730.81 | 906.496 | 216828.2216 |
168 | 1637.30595 | 733.855 | 903.4509 | 216094.3666 |
169 | 1637.30595 | 736.9128 | 900.3932 | 215357.4538 |
170 | 1637.30595 | 739.9832 | 897.3227 | 214617.4706 |
171 | 1637.30595 | 743.0665 | 894.2395 | 213874.4041 |
172 | 1637.30595 | 746.1626 | 891.1434 | 213128.2415 |
173 | 1637.30595 | 749.2716 | 888.0343 | 212378.9699 |
174 | 1637.30595 | 752.3936 | 884.9124 | 211626.5763 |
175 | 1637.30595 | 755.5285 | 881.7774 | 210871.0478 |
176 | 1637.30595 | 758.6766 | 878.6294 | 210112.3712 |
177 | 1637.30595 | 761.8377 | 875.4682 | 209350.5334 |
178 | 1637.30595 | 765.0121 | 872.2939 | 208585.5214 |
179 | 1637.30595 | 768.1996 | 869.1063 | 207817.3218 |
180 | 1637.30595 | 771.4004 | 865.9055 | 207045.9213 |
181 | 1637.30595 | 774.6146 | 862.6913 | 206271.3067 |
182 | 1637.30595 | 777.8422 | 859.4638 | 205493.4645 |
183 | 1637.30595 | 781.0832 | 856.2228 | 204712.3814 |
184 | 1637.30595 | 784.3377 | 852.9683 | 203928.0437 |
185 | 1637.30595 | 787.6058 | 849.7002 | 203140.4379 |
186 | 1637.30595 | 790.8875 | 846.4185 | 202349.5504 |
187 | 1637.30595 | 794.1828 | 843.1231 | 201555.3676 |
188 | 1637.30595 | 797.4919 | 839.814 | 200757.8757 |
189 | 1637.30595 | 800.8148 | 836.4911 | 199957.0609 |
190 | 1637.30595 | 804.1515 | 833.1544 | 199152.9094 |
191 | 1637.30595 | 807.5022 | 829.8038 | 198345.4072 |
192 | 1637.30595 | 810.8668 | 826.4392 | 197534.5404 |
193 | 1637.30595 | 814.2454 | 823.0606 | 196720.2951 |
194 | 1637.30595 | 817.6381 | 819.6679 | 195902.657 |
195 | 1637.30595 | 821.0449 | 816.2611 | 195081.6121 |
196 | 1637.30595 | 824.4659 | 812.8401 | 194257.1462 |
197 | 1637.30595 | 827.9012 | 809.4048 | 193429.2451 |
198 | 1637.30595 | 831.3508 | 805.9552 | 192597.8943 |
199 | 1637.30595 | 834.8147 | 802.4912 | 191763.0796 |
200 | 1637.30595 | 838.2931 | 799.0128 | 190924.7865 |
201 | 1637.30595 | 841.786 | 795.5199 | 190083.0005 |
202 | 1637.30595 | 845.2934 | 792.0125 | 189237.707 |
203 | 1637.30595 | 848.8155 | 788.4904 | 188388.8915 |
204 | 1637.30595 | 852.3522 | 784.9537 | 187536.5393 |
205 | 1637.30595 | 855.9037 | 781.4022 | 186680.6356 |
206 | 1637.30595 | 859.47 | 777.836 | 185821.1656 |
207 | 1637.30595 | 863.0511 | 774.2549 | 184958.1145 |
208 | 1637.30595 | 866.6471 | 770.6588 | 184091.4674 |
209 | 1637.30595 | 870.2582 | 767.0478 | 183221.2092 |
210 | 1637.30595 | 873.8842 | 763.4217 | 182347.3249 |
211 | 1637.30595 | 877.5254 | 759.7805 | 181469.7995 |
212 | 1637.30595 | 881.1818 | 756.1242 | 180588.6177 |
213 | 1637.30595 | 884.8534 | 752.4526 | 179703.7644 |
214 | 1637.30595 | 888.5403 | 748.7657 | 178815.2241 |
215 | 1637.30595 | 892.2425 | 745.0634 | 177922.9816 |
216 | 1637.30595 | 895.9602 | 741.3458 | 177027.0214 |
217 | 1637.30595 | 899.6934 | 737.6126 | 176127.328 |
218 | 1637.30595 | 903.4421 | 733.8639 | 175223.8859 |
219 | 1637.30595 | 907.2064 | 730.0995 | 174316.6795 |
220 | 1637.30595 | 910.9865 | 726.3195 | 173405.6931 |
221 | 1637.30595 | 914.7822 | 722.5237 | 172490.9108 |
222 | 1637.30595 | 918.5938 | 718.7121 | 171572.317 |
223 | 1637.30595 | 922.4213 | 714.8847 | 170649.8957 |
224 | 1637.30595 | 926.2647 | 711.0412 | 169723.631 |
225 | 1637.30595 | 930.1242 | 707.1818 | 168793.5068 |
226 | 1637.30595 | 933.9997 | 703.3063 | 167859.5072 |
227 | 1637.30595 | 937.8913 | 699.4146 | 166921.6158 |
228 | 1637.30595 | 941.7992 | 695.5067 | 165979.8166 |
229 | 1637.30595 | 945.7234 | 691.5826 | 165034.0932 |
230 | 1637.30595 | 949.6639 | 687.6421 | 164084.4293 |
231 | 1637.30595 | 953.6208 | 683.6851 | 163130.8085 |
232 | 1637.30595 | 957.5942 | 679.7117 | 162173.2143 |
233 | 1637.30595 | 961.5842 | 675.7217 | 161211.63 |
234 | 1637.30595 | 965.5908 | 671.7151 | 160246.0392 |
235 | 1637.30595 | 969.6141 | 667.6918 | 159276.4251 |
236 | 1637.30595 | 973.6542 | 663.6518 | 158302.7709 |
237 | 1637.30595 | 977.7111 | 659.5949 | 157325.0598 |
238 | 1637.30595 | 981.7849 | 655.5211 | 156343.275 |
239 | 1637.30595 | 985.8756 | 651.4303 | 155357.3993 |
240 | 1637.30595 | 989.9835 | 647.3225 | 154367.4159 |
241 | 1637.30595 | 994.1084 | 643.1976 | 153373.3075 |
242 | 1637.30595 | 998.2505 | 639.0554 | 152375.057 |
243 | 1637.30595 | 1002.41 | 634.8961 | 151372.6471 |
244 | 1637.30595 | 1006.587 | 630.7194 | 150366.0605 |
245 | 1637.30595 | 1010.781 | 626.5253 | 149355.2798 |
246 | 1637.30595 | 1014.992 | 622.3137 | 148340.2875 |
247 | 1637.30595 | 1019.221 | 618.0845 | 147321.0661 |
248 | 1637.30595 | 1023.468 | 613.8378 | 146297.598 |
249 | 1637.30595 | 1027.733 | 609.5733 | 145269.8653 |
250 | 1637.30595 | 1032.015 | 605.2911 | 144237.8505 |
251 | 1637.30595 | 1036.315 | 600.991 | 143201.5356 |
252 | 1637.30595 | 1040.633 | 596.6731 | 142160.9027 |
253 | 1637.30595 | 1044.969 | 592.3371 | 141115.9338 |
254 | 1637.30595 | 1049.323 | 587.9831 | 140066.6109 |
255 | 1637.30595 | 1053.695 | 583.6109 | 139012.9159 |
256 | 1637.30595 | 1058.085 | 579.2205 | 137954.8304 |
257 | 1637.30595 | 1062.494 | 574.8118 | 136892.3363 |
258 | 1637.30595 | 1066.921 | 570.3847 | 135825.415 |
259 | 1637.30595 | 1071.367 | 565.9392 | 134754.0483 |
260 | 1637.30595 | 1075.831 | 561.4752 | 133678.2176 |
261 | 1637.30595 | 1080.313 | 556.9926 | 132597.9042 |
262 | 1637.30595 | 1084.815 | 552.4913 | 131513.0895 |
263 | 1637.30595 | 1089.335 | 547.9712 | 130423.7548 |
264 | 1637.30595 | 1093.874 | 543.4323 | 129329.8811 |
265 | 1637.30595 | 1098.431 | 538.8745 | 128231.4497 |
266 | 1637.30595 | 1103.008 | 534.2977 | 127128.4414 |
267 | 1637.30595 | 1107.604 | 529.7018 | 126020.8373 |
268 | 1637.30595 | 1112.219 | 525.0868 | 124908.6182 |
269 | 1637.30595 | 1116.853 | 520.4526 | 123791.7648 |
270 | 1637.30595 | 1121.507 | 515.799 | 122670.2579 |
271 | 1637.30595 | 1126.18 | 511.1261 | 121544.078 |
272 | 1637.30595 | 1130.872 | 506.4337 | 120413.2057 |
273 | 1637.30595 | 1135.584 | 501.7217 | 119277.6215 |
274 | 1637.30595 | 1140.316 | 496.9901 | 118137.3056 |
275 | 1637.30595 | 1145.067 | 492.2388 | 116992.2384 |
276 | 1637.30595 | 1149.838 | 487.4677 | 115842.4001 |
277 | 1637.30595 | 1154.629 | 482.6767 | 114687.7709 |
278 | 1637.30595 | 1159.44 | 477.8657 | 113528.3306 |
279 | 1637.30595 | 1164.271 | 473.0347 | 112364.0594 |
280 | 1637.30595 | 1169.122 | 468.1836 | 111194.937 |
281 | 1637.30595 | 1173.994 | 463.3122 | 110020.9433 |
282 | 1637.30595 | 1178.885 | 458.4206 | 108842.0579 |
283 | 1637.30595 | 1183.797 | 453.5086 | 107658.2606 |
284 | 1637.30595 | 1188.73 | 448.5761 | 106469.5307 |
285 | 1637.30595 | 1193.683 | 443.623 | 105275.8478 |
286 | 1637.30595 | 1198.657 | 438.6494 | 104077.1912 |
287 | 1637.30595 | 1203.651 | 433.655 | 102873.5402 |
288 | 1637.30595 | 1208.666 | 428.6398 | 101664.874 |
289 | 1637.30595 | 1213.702 | 423.6036 | 100451.1717 |
290 | 1637.30595 | 1218.759 | 418.5465 | 99232.41231 |
291 | 1637.30595 | 1223.838 | 413.4684 | 98008.57475 |
292 | 1637.30595 | 1228.937 | 408.3691 | 96779.63786 |
293 | 1637.30595 | 1234.057 | 403.2485 | 95545.5804 |
294 | 1637.30595 | 1239.199 | 398.1066 | 94306.38104 |
295 | 1637.30595 | 1244.363 | 392.9433 | 93062.01834 |
296 | 1637.30595 | 1249.548 | 387.7584 | 91812.4708 |
297 | 1637.30595 | 1254.754 | 382.552 | 90557.71681 |
298 | 1637.30595 | 1259.982 | 377.3238 | 89297.73468 |
299 | 1637.30595 | 1265.232 | 372.0739 | 88032.50262 |
300 | 1637.30595 | 1270.504 | 366.8021 | 86761.99877 |
301 | 1637.30595 | 1275.798 | 361.5083 | 85486.20115 |
302 | 1637.30595 | 1281.113 | 356.1925 | 84205.0877 |
303 | 1637.30595 | 1286.451 | 350.8545 | 82918.63628 |
304 | 1637.30595 | 1291.812 | 345.4943 | 81626.82465 |
305 | 1637.30595 | 1297.194 | 340.1118 | 80329.63047 |
306 | 1637.30595 | 1302.599 | 334.7068 | 79027.03131 |
307 | 1637.30595 | 1308.027 | 329.2793 | 77719.00466 |
308 | 1637.30595 | 1313.477 | 323.8292 | 76405.5279 |
309 | 1637.30595 | 1318.95 | 318.3564 | 75086.57831 |
310 | 1637.30595 | 1324.445 | 312.8607 | 73762.13311 |
311 | 1637.30595 | 1329.964 | 307.3422 | 72432.16938 |
312 | 1637.30595 | 1335.505 | 301.8007 | 71096.66413 |
313 | 1637.30595 | 1341.07 | 296.2361 | 69755.59428 |
314 | 1637.30595 | 1346.658 | 290.6483 | 68408.93664 |
315 | 1637.30595 | 1352.269 | 285.0372 | 67056.66793 |
316 | 1637.30595 | 1357.903 | 279.4028 | 65698.76476 |
317 | 1637.30595 | 1363.561 | 273.7449 | 64335.20366 |
318 | 1637.30595 | 1369.243 | 268.0633 | 62965.96106 |
319 | 1637.30595 | 1374.948 | 262.3582 | 61591.01328 |
320 | 1637.30595 | 1380.677 | 256.6292 | 60210.33655 |
321 | 1637.30595 | 1386.43 | 250.8764 | 58823.90701 |
322 | 1637.30595 | 1392.206 | 245.0996 | 57431.70067 |
323 | 1637.30595 | 1398.007 | 239.2988 | 56033.69347 |
324 | 1637.30595 | 1403.832 | 233.4737 | 54629.86124 |
325 | 1637.30595 | 1409.682 | 227.6244 | 53220.17972 |
326 | 1637.30595 | 1415.555 | 221.7507 | 51804.62451 |
327 | 1637.30595 | 1421.453 | 215.8526 | 50383.17117 |
328 | 1637.30595 | 1427.376 | 209.9299 | 48955.7951 |
329 | 1637.30595 | 1433.323 | 203.9825 | 47522.47163 |
330 | 1637.30595 | 1439.296 | 198.0103 | 46083.17597 |
331 | 1637.30595 | 1445.293 | 192.0132 | 44637.88326 |
332 | 1637.30595 | 1451.315 | 185.9912 | 43186.56849 |
333 | 1637.30595 | 1457.362 | 179.944 | 41729.20657 |
334 | 1637.30595 | 1463.434 | 173.8717 | 40265.77232 |
335 | 1637.30595 | 1469.532 | 167.7741 | 38796.24042 |
336 | 1637.30595 | 1475.655 | 161.651 | 37320.58547 |
337 | 1637.30595 | 1481.804 | 155.5024 | 35838.78196 |
338 | 1637.30595 | 1487.978 | 149.3283 | 34350.80427 |
339 | 1637.30595 | 1494.178 | 143.1284 | 32856.62667 |
340 | 1637.30595 | 1500.403 | 136.9026 | 31356.22333 |
341 | 1637.30595 | 1506.655 | 130.6509 | 29849.56831 |
342 | 1637.30595 | 1512.933 | 124.3732 | 28336.63556 |
343 | 1637.30595 | 1519.237 | 118.0693 | 26817.39892 |
344 | 1637.30595 | 1525.567 | 111.7392 | 25291.83214 |
345 | 1637.30595 | 1531.923 | 105.3826 | 23759.90882 |
346 | 1637.30595 | 1538.306 | 98.99962 | 22221.60249 |
347 | 1637.30595 | 1544.716 | 92.59001 | 20676.88655 |
348 | 1637.30595 | 1551.152 | 86.15369 | 19125.73429 |
349 | 1637.30595 | 1557.615 | 79.69056 | 17568.1189 |
350 | 1637.30595 | 1564.105 | 73.2005 | 16004.01345 |
351 | 1637.30595 | 1570.623 | 66.68339 | 14433.39089 |
352 | 1637.30595 | 1577.167 | 60.13913 | 12856.22407 |
353 | 1637.30595 | 1583.738 | 53.5676 | 11272.48572 |
354 | 1637.30595 | 1590.337 | 46.96869 | 9682.148456 |
355 | 1637.30595 | 1596.964 | 40.34229 | 8085.184791 |
356 | 1637.30595 | 1603.618 | 33.68827 | 6481.567111 |
357 | 1637.30595 | 1610.299 | 27.00653 | 4871.26769 |
358 | 1637.30595 | 1617.009 | 20.29695 | 3254.258689 |
359 | 1637.30595 | 1623.747 | 13.55941 | 1630.51215 |
360 | 1637.30595 | 1630.512 | 6.793801 | 0 |
2.
300500.1357
3.
207045.9213
4.
261851.3263
5.
=1637.30595*30*12-(320000-15000) =284430.142
7A) Use excel to build a monthly amortization table for a 30-year 5% fix-rate mortgage on...
A thirty year $200,000.00 mortgage has a monthly payment of $1,199.10 based on a rate of 6% APR. After making 180 payments over fifteen years, how much of the mortgage do you still owe?
The mortgage on your house is five years old. It required monthly payments of SEK 12,000, had an original term of 30 years, and had an interest rate of 6.5% (APR). In the intervening five years, interest rates have fallen and so you have decided to refinance - that is, you will roll over the outstanding balance into a new mortgage. The new mortgage has a 30-year term, requires monthly payments, and has an interest rate of 3.5% (APR). (a)...
The mortgage on your house is five years old. It required monthly payments of $ 1,422, had an original term of 30 years and had an interest rate of 9% (APR). In the intervening five years, interest rates have fallen and so you have decided to refinance, that is, you will roll over the outstanding balance into a new mortgage. The new mortgage has a 30-year term, requires monthly payments, and has an interest rate of 6.125 % (APR). a....
Spreadsheet 1: Amortization Table Create an amortization table in MS-Excel in the format shown below: Scenario: 2 years ago Janice got a $100,000, 15-year mortgage with an annual interest rate of 6% and monthly payments. 1) What is her monthly payment? 2) How much does she owe today (after 24 payments)? 3) How much will she owe in 3 years (after 60 payments)? 4) How much will she owe in 3 years (after 60 payments) if she makes an extra...
The mortgage on your house is five years old. It required monthly payments of $ 1,422, had an original term of 30 years, and had an interest rate of 9 % (APR). In the intervening five years, interest rates have fallen and so you have decided to refinance long dash that is, you will roll over the outstanding balance into a new mortgage. The new mortgage has a 30-year term, requires monthly payments, and has an interest rate of 6.125...
i need part B and the rest on excel Question 1 Prepare the amortization schedule for a thirty-year loan of $100,000. The APR is 3% and the loan calls for equal monthly payments. The following table shows how you should prepare the amortization schedule for the loan. a. Interest Principal Ending Month lPayment Payment Payment Balance Beginning ota S100,000.00 b. Use the annuity formula to find how much principal you still owe to the bank at the end of the...
Loans Excel Homework Assignment Mortgage Amortization Schedule Excel Assignment 1. Excel: Complete the amortization table provided in the Excel document posted in in the homework area by setting the appropriate values for a $165,000, 30-year mortgage at 4.5% interest and using Excel's autofill (drag) feature to fill in the cells to the end of the mortgage period. Use this to answer the following: a. How much of the first payment goes towards the principal? How much goes toward the interest?...
Ten years ago you obtained a 30-year mortgage for $400,000 with a fixed interest rate of 3% APR compounded monthly. The mortgage is a standard fixed rate mortgage with equal monthly payments over the life of the loan. What are the monthly fixed mortgage payments on this mortgage (i.e., the minimum required monthly payments to pay down the mortgage in 30 years)? What is the remaining loan balance immediately after making the 120th monthly payment (i.e., 10 years after initially...
The mortgage on your house is five years old. It required monthly payments of $1,450, had an original term of 30 years, and had an interest rate of 8% (APR). In the intervening five years, interest rates have fallen and so you have decided to refinance—that is, you will roll over the outstanding balance into a new mortgage. The new mortgage has a 30-year term, requires monthly payments, and has an interest rate of 6.125% (APR). a. What monthly repayments will be required with...
The mortgage on your house is five years old. It required monthly payments of $ 1 422 , had an original term of 30 years, and had an interest rate of 9 % (APR). In the intervening five years, interest rates have fallen and so you have decided to refinancelong dashthat is, you will roll over the outstanding balance into a new mortgage. The new mortgage has a 30-year term, requires monthly payments, and has an interest rate of 6.625...