Calculate the missing amounts in the amortization table which shows extra payments toward the principal made each
Question:
Transcribed Image Text:
Payment Beginning Monthly Towards Towards EndingExtra 100 b 208,890.81 200 Number. Balance | Payment lnterest | Principal. Balance-I Payment 1210,000.00 1,628.13 1,225.00 403.13 a. 1,628.13 1,222.07 a. 3 208,890.81 1,628.13 4 208,381.21 1,628.13 1,215.56 125 207,918.64 d 5 207,918.64 1,628.13 1,212.86 415.27 C. 409.60 208,381.21 100 e. 100
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
a 210000 40313 100 20949687 b ...View the full answer
Answered By
Danish Sohail
My objective is to become most reliable expert for clients. For last 10 years I have been associated with the field of accounting and finance. My aim is to strive for best results and pay particular attention to client needs. I am always enthusiastic to help clients for issues and concerns related to business studies. I can work on analysis of the financial statements, calculate different ratios and analysis of ratios. I can critically evaluate stock prices based on the financial analysis and valuation for companies using financial statements of the business entity being valued with use of excel tools. I have expertise to provide effective and reliable help for projects in corporate finance, equity investments, financial accounting, cost accounting, financial planning, business plans, marketing plans, performance measurement, budgeting, economic research, risk assessment, risk management, derivatives, fixed income investments, taxation, auditing, and financial performance analysis.
4.80+
78+ Reviews
112+ Question Solved
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Question Posted:
Students also viewed these Linear Algebra questions
-
Examine this portion of an amortization table for an adjustable rate mortgage that had a 1 year initial rate period of 4.25% and increased to 5.25% after that period ended. Determine the missing...
-
Examine the loan amortization table for a $210,000, 15 year mortgage with an APR of 6%. The borrower paid an extra $100 each month towards the principal. Determine the missing amounts. Payment...
-
A taxpayer who pays 22% in taxes each year has these two accounts. Account 1: $10,000 is placed in a tax-deferred account that pays 5% interest compounded annually for 25 years. Account 2: $10,000 is...
-
Read the article Somatoform and Related Disorders: An Update which address personality disorders, substance abuse, as any of these behaviors are often considered to be predictors of crime and/or...
-
Band Box Entertainment (BBE) operates a large store in Atlanta, Georgia. The store has both a movie (DVD) section and a music (CD) section. BBE reports revenues for the movie section separately from...
-
Sixteen stations, numbered 1 through 16, are contending for the use of a shared channel by using the adaptive tree walk protocol. If all the stations whose addresses are prime numbers suddenly become...
-
Explain the purpose of the judges charge to the jury.
-
The following information is available for Pacilio Security Services Inc. for 2011, its first year of operations. Pacilio provides security services for local sporting events. The following summary...
-
1. Consider the following modification to the MergeSort algorithm: divide the input array into fourths (rather than halves), recursively sort each sort each forth, and finally combine the results...
-
Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $ 49,000 cash to start the business and received 4,000 shares of stock. The store completed its first year of...
-
Michelle took out a $370,000 30-year adjustable rate mortgage with a 3.8% initial 6-month rate. The amortization table for the initial rate period is shown. After the first 6 months, the rate went up...
-
Adam is taking out a $197,000 mortgage. His bank offers him an APR of 7.45%. He wants to compare monthly payments on a 20- and a 30-year loan. Find, to the nearest ten dollars, the difference in the...
-
Show that is an orthogonal matrix. 6/7 -1/V5 _ 4/7V5 -15/7V5 2/7V5] 2/7 3/7 2/V5
-
When a buyer signs an offer to purchase a property, the broker receives earnest money from the purchaser amounting to 5 or 10 percent of the purchase price. Most states have laws requiring brokers to...
-
Grace deposited $90,000 at the local bank because the bank provides an immutability that is similar to blockchain. What is the difference with the immutability provided by the bank as opposed to...
-
Assume BetaChem, Inc., is considering raising capital. It is uncertain whether it will do so via issuing 1 to 2 million additional shares or via a senior security, such as preferred stock or even...
-
In short, it is critical to take note of the various tax and Medicare payable amounts in each situation when offering our clients financial planning guidance. Please don't hesitate to ask if you have...
-
Holland Company is a garden products wholesale firm. In December, Holland Company expects to sell 84,000 bags of vegetable fertilizer at an average price of $8.75 per bag. Actual results are 85,000...
-
Smiths Family Fashions implemented a balanced scorecard performance measurement system several years ago. Smiths is a locally owned clothing retailer with fashions for men, women, teens, and...
-
Find the first 5 terms of the sequence, and then find S5. a. an = 1 / 2n log 1000n b. an = in, i = -1 c. an = ln (12 3 n)
-
For the sequence whose nth term is an = (1-)n (2n + 1), find a21.
-
Find the sum of the first 20 terms of the series 17 + 13 + 9 + g .
-
In the Queries section of the Navigation Pane, right-click Stone Mountain Patients to select it and display the shortcut menu. 3. Click Copy on the shortcut menu. 4. Right-click the empty area near...
-
What is 'audit risk', and discuss/analyze the components of audit risk. b. List the four (4) things involved in the initial audit planning and which should be done early in the audit.
-
K Internal control is a plan of organization and a system of procedures, implemented by company. A. external auditors; management B. external auditors; board of directors OC. internal auditors;...
Study smarter with the SolutionInn App