Question: Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet

Check my work mode : This shows what is correctCheck my work mode : This shows what is correctCheck my work mode : This shows what is correct
Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate complet Drill Problem 15-6 (Algo) [LU 15-2 (1)] Complete the following table: (Use Table 15.1.) Note: Round your intermediate calculations and final answer to the nearest cent. x Answer is complete but not entirely correct. First Payment Broken Down Selling price Down Amount Rate Balance at end of Years Monthly Into- payment mortgage payment month Interest Principal $ 119,000 $ 6,000 $ 113,000 7.00 % 30 751.79 @ $ 658.33 x $ 93.46 x $ 112,906.54 xTABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Interest 25 Year 30 Year 40 Year Rate Only 10 Year 15 Year 20 Year 3.02826 2.000 0.16667 9.20135 6.43509 5.05883 4.23854 3.69619 3.75902 3.09444 2.125 0.17708 9.25743 6.49281 5.11825 4.29966 2.250 0.18750 9.31374 5.55085 5.17808 4.36131 3.82246 3.16142 2.375 0.19792 9.37026 6.60921 5.23834 4.42348 3.88653 3.22921 2.500 0.20833 9.42699 6.66789 5.29903 4.48617 3.95121 3.29778 2.625 0.21875 9.48394 6.72689 5.36014 4.54938 4.01651 3.36714 2.750 0.22917 9.54110 6.78622 5.42166 4.61311 4.08241 3.43728 2.875 0.23958 9.59848 6.84586 5.48361 4.67735 1.14892 3.50818 3.000 0.25000 9.65607 6.90582 5.54598 4.74211 4.21604 3.57984 3.125 0.26042 9.71388 6.96609 5.60876 4.80738 4.28375 3.65226 3.250 0.27083 9.77190 7.02669 5.67196 4.87316 1.35206 3.72541 3.375 0.28125 9.83014 7.08760 5.73557 4.93945 4.42096 3.79930 3.500 0.29167 9.88859 7. 14883 5.79960 5.00624 4.49045 3.87391 3.625 0.30208 9.94725 7.21037 5.86404 5.07352 4.56051 3.94923 3.750 0.31250 10.00612 7.27222 5.92888 5.14131 4.63116 4.02526 3.875 0.32292 10.06521 7.33440 5.99414 5.20959 4.70237 4.10198 4.000 0.33333 10.12451 7.39688 6.05980 5.27837 4.77415 4.17938 4.125 0.34375 10.18403 7.45968 6.12587 5.34763 4.84650 4.25746 4.250 0.35417 10.24375 7.52278 6.19234 5.41738 4.91940 4.33620 4.375 0.36458 10.30369 7.58620 6.25922 5.48761 4.99285 4.41559 4.500 0.37500 10.36384 7.64993 5.32649 5.55832 5.06685 4.49563 4.625 0.38542 10.42420 7.71397 6.39417 5.62951 5.14140 4.57629 4.750 0.39583 10.48477 7.77832 6.46224 5.70117 5.21647 4.65758 4.875 0.40625 10.54556 7.84297 6.53070 5.77330 5.29208 5.000 0.41667 4.73947 10.60655 7.90794 6.59956 5.84590 5.125 5.36822 0.42708 4.82197 10.66776 7.97320 6.66881 5.91896 5.250 5.44487 0.43750 4.90505 10.72917 8.03878 6.73844 5.99248 5.375 5.52204 0.44792 4.98870 10.79079 8.10465 6.80847 5.500 6.06645 0.45833 5.59971 10.85263 5.07293 8. 17083 6.87887 5.625 6.14087 0.46875 5.67789 10.91467 5.15770 8.23732 6.94966 5.750 0.47917 6.21575 5.75656 10.97692 5.24302 8.30410 7.02084 5.875 0.48958 6.29106 5.83573 11.03938 8.37118 5.32888 7.09238 6.000 0.50000 6.36682 11.10205 5.91538 8.43857 5.41525 125 7.16431 6.44301 5.99551 5.50214\f

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

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

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!