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...
i need part B and the rest on excel Question 1 Prepare the amortization schedule for...
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...
Amortization schedulesa. Set up an amortization schedule fora $250,000 mortgage to be repaid in...
Amortization schedulesa. Set up an amortization schedule fora $250,000 mortgage to be repaid in equal monthly installments atthe end of each month for the next 15 years. The mortgage rate isan APR of 5%.b. How large must each monthly paymentbe if the loan is for $500,000? Assume that the interest rateremains at 5% and that the loan is paid off over 15 years.c. How large must each monthly paymentbe if the...
Amortization schedules a. Set up an amortization schedule for a$250,000 mortgage to be repaid in...
Amortization schedules a. Set up an amortization schedule for a$250,000 mortgage to be repaid in equal monthly installments at theend of each month for the next 15 years. The mortgage rate is anAPR of 4.5%. b. How large must each monthly payment be if the loanis for $500,000? Assume that the interest rate remains at 4.5% andthat the loan is paid off over 15 years. c. How large must eachmonthly payment be if the...
Spreadsheet 1: Amortization TableCreate an amortization table in MS-Excel in the format shownbelow:Scenario:...
Spreadsheet 1: Amortization TableCreate an amortization table in MS-Excel in the format shownbelow:Scenario: 2 years ago Janice got a $100,000, 15-year mortgagewith 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 shemakes an extra...
The purpose of this question is to give you experiencecreating an amortization schedule for a...
The purpose of this question is to give you experiencecreating an amortization schedule for a loan. As noted byInvestopedia: ‘An amortization schedule is a complete table ofperiodic loan payments, showing the amount of principal and theamount of interest that comprise each payment until the loan ispaid off at the end of its term. While each periodic payment is thesame amount early in the schedule, the majority of each payment isinterest; later in the...
b.Fill in the partial amortization schedule for the loan, roundingyour answers to two decimal...
b.Fill in the partial amortization schedule for the loan, roundingyour answers to two decimal places.Holly received a loan of $36,000 at 3.5% compounded monthly. She had to make payments at the end of every month for a period of 5 years to settle the loan. a. Calculate the size of payments. 0.00 Round to the nearest cent Interest Principal Payment Principal Payment Portion Portion Balance Number $36,000.00 $0.00 $0.00 $0.00 $0.00 1 $0.00 $0.00 $0.00 $0.00 2...
Amortization Schedule
Create an amortization schedule using the following assumptions:Purchase Price$280,000Down Payment5%Loan Amount266000Interest Rate11%Loan Term30 Year - FixedBalance @End of Year 5Amortization to be in months. (month 60)
I would like help with using the excel PMT function to answerthis question. I know...
I would like help with using the excel PMT function to answerthis question. I know how to find monthly/total payments but I donot know how to find "amount paid towards principle after 29 monthswith 6.7% nominal interest and 360standard month paymentschedule"I would like to know the excel steps thank you
Given the annual interest rate and a line of an amortization schedule for that loan, complete...
Given the annual interest rate and a line of an amortization schedule for that loan, complete the next line of the schedule. Assume that payments are made monthly. Annual Interest Rate Payment $524.49 Interest Paid $43.29 Paid on Principal $481.20 Balance $8,040.03 out the amortization schedule below. Payment Balance Annual interest Rate 6.1% Interest Paid $43.29 Paid on Principal $481.20 $8.040.03 $524.49 $ 524.49 Round to the nearest cent as needed.
