With a selling price $100,000, a 20% down payment, and a mortgage of 12% for 25 years, calculate: A. amount of mortgage B. monthly payment C. interest portion of first payment D. Principal portion of first payment
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With a selling price $100,000, a 20% down payment, and a mortgage of 12% for 25 years, calculate:
A. amount of mortgage
B. monthly payment
C. interest portion of first payment
D. Principal portion of first payment
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- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?2. A mortgage has the following terms: Amount: $750,000 Rate: 6.25% Amortization (Years): 30 Term (Years): 20 Please determine the following: A. What is the Monthly Payment? B. In preparing an Income Statement, what is the Interest Expense for years 1-5? C. What is the Principal Balance at the end of year 6? D. What is the value of the loan at the expiration? E. If rates remain constant (flat), what would the benefit be to refinance this loan after year 10?Consider a home mortgage of $225,000 at a fixed APR of 3% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
- Consider a home mortgage of $150 comma 000 at a fixed APR of 4.5 % for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.Consider a home mortgage of $17500 at a fixed APR of %6 for 15 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. Please show all work computaion explanation formulas clearly with stepsAPPLICATION A mortgage of P 80 000 is to be paid by annual payment over a period of 10 years. If the interest rate is 15.8% effective. a) calculate the annual payment; b) construct an amortization schedule; c) find the total payment made; d) find the total interest paid
- A fully amortizing mortgage loan is made for $84,000 at 6 percent interest for 25 years. Payments are to be made monthly. Required: a. Calculate monthly payments. b. Calculate interest and principal payments during month 1. c. Calculate total principal and total interest paid over 25 years. d. Calculate the outstanding loan balance if the loan is repaid at the end of year 10. e. Calculate total monthly interest and principal payments through year 10. f. What would the breakdown of interest and principal be during month 50?A mortgage has the following terms: Amount: $750,000 Rate: 6.25% Amortization (Years): 30 Term (Years): 20 Please determine the following: What is the Monthly Payment? In preparing an Income Statement, what is the Interest Expense for years 1 – 5? What is the Principal Balance at the end of year 6? What is the value of the loan at the expiration? If rates remain constant (flat), what would the benefit be to refinance this loan after year 10? do all the questions 1-5 and show the formulas in excel and show how you got itassume a 30-year $200,000 mortgage loan with an apr of 7%. what is the amount of interest and principal, respectively applied from the first annual fixed payment? a) $7,000; $133.33 b)$133.33; $7,000 c)$14,000; $2,177.28 d) $2,177.28; $14,000
- Consider a 30-year home mortgage of $100,000 at 6% per year. What is the monthly payment? Use Theorem 1 as attached to make an amortization schedule of the first 6 months: Month (k) Principal P(k) Interest I(k) Balance due B(k) 1 2 3 4 5 6 where P(k) is the amount paid to the principal in the k’th payment, I(k) is the amount paid to interest in the k’th payment, B(k) is the balance due after the k’th payment.A mortgage of P 90 000 is to be paid by annual payment over a period of 10 years. If the interest rate is 15.8% effective. a) calculate the annual payment; b) construct an amortization schedule; c) find the total payment made; d) find the total interest paidConsider that you take out a $250,000, 15-year mortgage with 3.5% interest with monthly payments. Create the amortization schedule. (Show the first 3 payments) Payment # Payment Amount Interest Paid Principal Paid Remaining Balance
