Question: 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

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 Beginning Monthly Extra TowardsTowards Ending Number BalancePayment PaymentInterestPrincipalBalance 1210,000.00 a. 100.00 1,050.00 822.10 209,177.90 2 3 208,351.69 a. 4 207,52135 a. 5 206,686.86 . 100.00 1,033.43 838.67205,848.19 b. a 1,045.89 826.21 C. d. 830.34 207,521.35 100.00 1,037.61e

Step by Step Solution

★★★★★

3.55 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a b B 2 E 1 20917790 c E 2 2091779... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

790-L-A-L-S (1950).docx

120 KBs Word File

Students Have Also Explored These Related Linear Algebra Questions!

Examine the loan amortization table for the last 5 months of a $500,000, 15-year mortgage with an APR of 5.75%. Determine the missing table amounts. Payment Beginning Monthly Towards Towards Ending...

Fill in the missing entries in this loan amortization table for a $220,000 20 year mortgage with an APR of 5.95%. Payment Beginning Monthly Towards Towards Ending Number Balance Payment Interst...

Use a spreadsheet to generate the last year of payments in a loan amortization table for a $600,000, 15-year mortgage with an APR of 5.5%?

Examine the loan amortization table for a $210,000, 15-year mortgage with an APR of 3.8%. The borrower paid an extra $100 each month toward the principal. Determine the missing amounts. Payment...

PowerPoint Assignment for BUS 401: Principles of Finance You have been asked by a manager in your organization to put together a training program explaining Net Present Value (NPV) and Future Value...

Can someone help me with this? I need it by tomorrow chapter 2 Issues in Accounting for Corporate Debt and Equity istockphoto Learning Objectives Be able to articulate the advantages and...

Listen to the following videos and then complete the assignments using the changed numbers on the guidance report. Place your answers on the guidance report. Open the Guidance Report and rework the...

what is it thats missing i will resubmit later . B D E G H Enter your name in this box Tutorial 3 - Present Value of Uneven Cash Flows Find the present value of an uneven cash flow stream invested...

B DE Enter your name in this box F G H ANN L M N 5 6 Tutorial 6 - Calculating Loan Payments and Loan Amortization You will determine the loan payment and amortization schedule fee a fixed rate loan...

CASE 2 QUESTIONS 1. Show both the 30-year and 15-year amortization schedules (Periods, PMT, IPMT, PPMT, BALANCE), how much in monthly payments he would have paid assuming he pays 20% of the house...

You are a small business owner considering two alternatives for your phone system. The discount rate is 8%. Which alternative would you pick? Plan A Plan B Initial cost (S) 50,000 120,000 Annual...

Consider the following information for HandyCraft Stores for 2011 and 2012. Required a. Compute ROI for both years. b. Break ROI down into profit margin and investment turnover. c. Comment on the...

22. Which of the following most likely increases aggregate demand in the U.S.? A. An American entrepreneur founds and locates a software company in London. B. The U.S. military relocates a military...

Suppose the mythical Tight Jeans Corporation leased a second sewing machine, giving it the following production function: Number of workers: 0 1 4 5 6 7 8 Quantity of output: 0 20 46 64 72 78 81 82...

A heavy-duty flashlight mirror has a parabolic cross section with diameter 6 in. and depth 1 in. a) Position a coordinate system with the origin at the vertex and the x-axis on the parabola's axis of...

Information Unlimited designed and sells the Ultrasonic Receiver, which detects sounds unable to be heard by the human ear. The HT90P can detect mechanical and electrical sounds such as leaking...

A spotlight has a parabolic cross section that is 4 ft wide at the opening and 1.5 ft deep at the vertex. How far from the vertex is the focus?

You found your dream house. It will cost you $200000 and you will put down $40000 as a down payment. If you finance the reminder of the cost with a 30 -year 5.0% mortgage, what will your monthly...

Barrington Fertilizers, Inc., exports its specialized lawn care products to Canada. It made a sale worth C$1,151,000, with the payment due in 90 days. Its banker gave it a forward quote of...

You are a consultant for a large manufacturing corporation that is considering a project with the following cash flows (in millions of dollars): Years from now 0 1 2 3 4 5 6 Cash flows -23.32 5 7 10...