LOAN REPAYMENT SCHEDULE- $155,000 @ 5.75% FOR 15 YEARS 4a. 4b. 4c. 4d. 4e. 4f. Date 1-Aug

LOAN REPAYMENT SCHEDULE- $155,000 @ 5.75% FOR 15 YEARS

 

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4a. 4b. 4c. 4d. 4e. 4f. Date 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec Totals Date 1-Jan 1-Feb 1-Mari 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec Totals Date 1-Jan 1-Feb 1-Mar 1-Apr Payment $1,287.14 $1,287.14 $1,287.14 $1,287.14 $1,287.14 $6,435.70 Payment $1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 $15,445.68 Payment. $1,287.14 1,287.14 1,287.14 1,287.14 Payment Schedule Year 1 Interest $742.71 740.1 737.48 734.84 732.2 $3,687.33 Payment Schedule Year 2 Interest $729.54 726.87 724.18 721.49 728.77 716.05 713.31 710.57 707.80 705.03 702.24 699.43 $8,585.28 Payment Schedule Year 3 Interest $696.62 693.79 690.95 688.09 Principal What is the total amount of interest paid in Year 2 $544.43 547.04 549.66 552.3 554.94 $2,748.37 Principal $557.60 560.27 562.96 565.65 568.37 571.09 573.83 576.57 579.34 582.11 584.90 587.71 $6,870.40 Principal $590.52 593.35 596.19 599.05 How much principal is paid off with the Oct. 1 payment in Year $ Are principal payments increasing or decreasing during the loan? In which year will more principal be paid off; Year 2 or Year 3 What amount of interest is applies to July of Year 2 $ When will the interest charge for January of Year 3 be paid? $ Year: Loan Balance $155,000.00 154,455.57 153,908.53 153,358.87 152,806.57 152,251.63 Loan Balance $151,694.03 151,133.76 150,570.80 150,005.15 149,436.78 148,865.69 148,291.86 147,715.29 147,135.95 146,553.84 145,968.94 145,381.23 Loan Balance $144,790.71 144,197.36 143,601.17 143,002.12 Remember: Mortgage payments are in arrears. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 4a. 4b. 4c. 4d. 4e. 4f. Date 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec Totals Date 1-Jan 1-Feb 1-Mari 1-Apr 1-May 1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov 1-Dec Totals Date 1-Jan 1-Feb 1-Mar 1-Apr Payment $1,287.14 $1,287.14 $1,287.14 $1,287.14 $1,287.14 $6,435.70 Payment $1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 1,287.14 $15,445.68 Payment. $1,287.14 1,287.14 1,287.14 1,287.14 Payment Schedule Year 1 Interest $742.71 740.1 737.48 734.84 732.2 $3,687.33 Payment Schedule Year 2 Interest $729.54 726.87 724.18 721.49 728.77 716.05 713.31 710.57 707.80 705.03 702.24 699.43 $8,585.28 Payment Schedule Year 3 Interest $696.62 693.79 690.95 688.09 Principal What is the total amount of interest paid in Year 2 $544.43 547.04 549.66 552.3 554.94 $2,748.37 Principal $557.60 560.27 562.96 565.65 568.37 571.09 573.83 576.57 579.34 582.11 584.90 587.71 $6,870.40 Principal $590.52 593.35 596.19 599.05 How much principal is paid off with the Oct. 1 payment in Year $ Are principal payments increasing or decreasing during the loan? In which year will more principal be paid off; Year 2 or Year 3 What amount of interest is applies to July of Year 2 $ When will the interest charge for January of Year 3 be paid? $ Year: Loan Balance $155,000.00 154,455.57 153,908.53 153,358.87 152,806.57 152,251.63 Loan Balance $151,694.03 151,133.76 150,570.80 150,005.15 149,436.78 148,865.69 148,291.86 147,715.29 147,135.95 146,553.84 145,968.94 145,381.23 Loan Balance $144,790.71 144,197.36 143,601.17 143,002.12 Remember: Mortgage payments are in arrears. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬

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4a How much principal is paid off with the Oct 1 payment in Year 2 Principal paid off Payment Intere... View the full answer