Question: Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.) Selling price of home Principal (loan) Rate of Interest
Complete the following amortization chart by using Table 15.1. (Round your answers to the nearest cent.) Selling price of Down payment home Principal (loan) Years Rate of Interest 6.5% Payment per $1,000 Monthly mortgage payment $ 198,000 $ 50,000 35 TABLE 15-1 Amortization table (mortgage principal and Interest por $1,000) INTEREST Term In years 3% 5% 5.1 6% 79 7% 8% 8% 9% 10% 101% 11% 10 11.11 188 T0.56 12 12.14 10.83 12.40 11.11 10.61 925 7.91 7.29 1294 11 67 976 8.44 15 17 10.86 0.51 8.18 56 6.88 651 6.15 1136 10.02 8.72 8.12 9.28 8.69 956 8.99 9.85 9.29 10.45 9.90 989 8.52 7.15 6.52 5.80 5.44 5:01 4.50 3.99 1267 11.39 10.15 9.59 9.00 7.84 13.22 11 06 10.75 10.32 9.66 9.39 6.60 7.46 11.62 10.29 8 99 8.40 7.76 744 7.07 6.66 639 20 22 25 868 7.17 682 6.45 6.00 571 8.72 7.13 6.76 13.50 13.78 12.25 12.54 1106 11.37 10.54 10.86 999 10:33 9.73 10.08 945 9.51 9.15 9.53 8.99 0.32 8.06 7.75 7.39 7.00 6.75 8.37 807 7.72 734 6:20 585 5.37 505 9.33 9.05 8.74 8.39 8.06 30 7.69 5.68 5.38 8.41 8.40 8.05 7.84 6.33 60S 9.09 878 3.60 35 7.11 7.47 8.22
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
