Question: Complete the following table: (Use Table 15.1.) Note: Round your intermediate calculations and final answer to the nearest cent. Selling price Down payment Amount

and final answer to the nearest cent. Selling price Down payment Amount

Complete the following table: (Use Table 15.1.) Note: Round your intermediate calculations and final answer to the nearest cent. Selling price Down payment Amount mortgage $ 124,000 $ 7,000 Rate 7.50 % Years 30 Monthly payment First Payment Broken Down Into Interest Principal Balance at end of month TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Rate 2.000 2.125 2.250 2.375 2.500 2.625 2.750 2.875 3.000 3.125 3.250 0.27083 3.375 0.28125 3.500 0.29167 3.625 0.30208 3.750 0.31250 3.875 0.32292 4.000 0.33333 4.125 4.250 4.375 4.500 4.625 4.750 4.875 5.000 5.125 5.250 5.375 5.500 5.625 5.750 5.875 6.000 6.125 6.250 6.375 6.500 6.625 6.750 6.875 7.000 7.125 7.250 7.375 7.500 Interest Only 0.16667 0.17708 0.18750 0.19792 0.20833 0.21875 0.22917 0.23958 0.25000 0.26042 7.625 7.750 7.875 8.000 0.55208 0.56250 0.57292 0.58333 0.59375 0.60417 0.61458 0.06250 10 Year 0.63542 0.64583 0.65625 0.66667 9.20135 9.25743 9.31374 9.37026 9.42699 9.48394 9.54110 6.72689 6.78622 9.59848 6.84586 9.65607 9.71388 9.77190 9.83014 9.88859 9.94725 10.00612 10.06521 15 Year 6.43509 6.49281 6.55085 6.60921 6.66789 11.41850 11.48241 11.54653 11.61085 11.67537 11.74010 6.90582 6.96609 7.02669 5.67196 4.87316 7.08760 5.73557 4.93945 7.14883 5.79960 5.00624 7.21037 5.86404 5.07352 7.27222 5.92888 5.14131 7.33440 5.99414 5.20959 10.12451 7.39688 6.05980 5.27837 0.34375 10.18403 7.45968 6.12587 5.34763 0.35417 10.24375 7.52278 6.19234 5.41738 0.36458 10.30369 6.25922 5.48761 0.37500 10.36384 6.32649 5.55832 0.38542 6.39417 5.62951 0.39583 6.46224 5.70117 0.40625 6.53070 5.77330 0.41667 6.59956 5.84590 0.42708 6.66881 5.91896 0.43750 6.73844 5.99248 0.44792 6.80847 0.45833 6.87887 0.46875 6.94966 0.47917 7.02084 0.48958 0.50000 0.51042 0.52083 0.53125 0.54167 10.42420 10.48477 10.54556 10.60655 7.90794 10.66776 10.72917 10.79079 10.85263 10.91467 10.97692 11.03938 11.10205 11.16493 11.22801 11.29130 11.35480 11.80504 11.87017 11.93552 12.00106 12.06681 12.13276 7.58620 7.64993 7.71397 7.77832 7.84297 7.97320 8.03878 8.10465 8.17083 8.23732 8.30410 8.37118 8.43857 8.50625 8.57423 8.64250 8.71107 8.77994 8.84909 8.91854 8.98828 9.05831 9.12863 9.19923 9.27101 20 Year 5.05883 9.34130 9.41276 9.48450 9.55652 5.11825 5.17808 5.23834 5.29903 5.36014 5.42166 5.48361 5.54598 5.60876 7.09238 7.16431 7.23661 7.30928 7.38232 7.45573 7.52950 7.60364 7.67814 7.75299 7.82820 7.90376 7.97967 8.05593 25 Year 4.23854 4.29966 4.36131 4.42348 4.48617 4.54938 4.61311 8.13254 8,20949 8.28677 8.36440 4.67735 4.74211 4.80738 30 Year 3.69619 3.75902 3.82246 3.88653 3.95121 4.01651 4.08241 4.14892 4.21604 4.28375 4.35206 4.42096 4.49045 4.56051 4.63116 4.70237 4.77415 4.84650 4.91940 4.99285 5.06685 5.14140 5.21647 5.29208 5.36822 5.44487 5.52204 5.59971 5.67789 5.75656 5.83573 6.06645 6.14087 6.21575 6.29106 6.36682 6.44301 6.51964 6.59669 6.67417 6.75207 6.83039 6.90912 6.98825 7,06779 7.14773 7.22807 7.30880 7.38991 7.47141 7.07794 7.55329 7.16412 7.63554 7.25069 7.71816 7.33765 5.91538 5.99551 6.07611 6.15717 6.23870 6.32068 6.40311 6.48598 6.56929 6.65302 6.73719 6.82176 6.90675 6.99215 40 Year 3.02826 3.09444 3.16142 3.22921 3.29778 3.36714 3.43728 3.50818 3.57984 3.65226 3.72541 3.79930 3.87391 3.94923 4.02526 4.10198 4.17938 4.25746 4.33620 4.41559 4.49563 4.57629 4.65758 4.73947 4.82197 4.90505 4.98870 5.07293 5.15770 5.24302 5.32888 5.41525 5.50214 5.58952 5.67740 5.76575 5.85457 5.94385 6.03357 6.12373 6.21431 6.30531 6.39672 6.48852 6.58071 6.67327 6.76620 6.85948 6.95312

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

To complete the table we will use the provided amortization table Table 151 to calculate the monthly ... 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

Students Have Also Explored These Related Finance Questions!

The Polaris Company uses a job-order costing system. The following transactions occurred in October: a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $189,000...

The treasurer of Kelly Bottling Company (a corporation) currently has $200,000 invested in preferred stock yielding 10 percent. He appreciates the tax advantages of preferred stock and is considering...

1. Prepare the journal entry for A&Gs purchase of the conveyor on January 1, 2011. (Round "PV Factor" to 5 decimal places Round your intermediate calculations and final answers to the nearest dollar...

The Best Buy Co. Inc. 10-K report has the following footnote related to leasing activities. The future minimum lease payments under our capital and operating leases by fiscal year (not includ- ing...

In 2015, Carson is claimed as a dependent on his parent's tax return. His parents' ordinary income marginal tax rate is 28 percent. Carson's parents provided most of his support. What is Carson's tax...

The following tetrads were produced by a cross of a Neurospora strain that had white spores (w) and a nutritional requirement for the amino acid arginine (arg) with a strain that had dark spores and...

What other publications/presentations does the person have?

NASA's astronaut crew currently includes 10 mission specialists who hold a doctoral degree in either astrophysics or astromedicine. One of these specialists will be assigned to each of the 10 flights...

Growth Option: Option Analysis Fethe's Funiny Hats is considering selling trademarked, ornnpe-haired curly wigs for University of Tennessee football games, The purchase cost for a 2 year franchise to...

In this exercise you will be assuming the role of an Account Manager working within our Personal Care Appliances category during Amazon Black Friday. You act as a general manager responsible for...

a) Explain the purposes for which control accounts are prepared in a business organization. XML Ltd maintains control accounts in its business records. The balances are transactions relating to the...

need help with all parte. will upvote!:) Andretti Company has a single product called a Dak. The company normally produces and sells 89,000 Daks each year at a selling price of $60 per unit....

3 . Individual Problems 1?-4 Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in...

Dean and Ellen Price are married and have a manufacturing business. They bought a piece of business equipment (7-year personal property) on 4/1/2018 for $50,000. Use half-year convention to calculate...

Describe the strengths and weaknesses of the pre-trial testimony of expert witnesses Dr. Morgan Sain, Forensic Scientist Dale Ryan, and Dr. Leslie Torgeson and the forensic evidence on state v. sarah...

Mack's Juices produces and bottles a line of fruit juices. Themanufacturing process entails mixing and adding juices and otheringredients at the bottling plant, which is a part of BlendingDivision. 2...

1.On January 1, 2011, Pinnead Incorporated paid $299,895 for an 78% interest in Shalle Company. At that time, Shalle's total book value was $299,000. Patents were undervalued in the amount of...

What types of inventory issues Starbucks might reflect upon at the end of each year? The mission of Starbucks is to inspire and nurture the human spiritone person, one cup, and one neighborhood at a...

The stockholders' equity of Lakeside Occupational Therapy, Inc. on December 31, 2017, follows: On April 30, 2018, the market price of Lakeside's common stock was $16 per share and the company...

What is the purpose of the raw materials subsidiary ledger? How is it related to the general ledger?

Estella Osage publishes an online travel magazine. In need of cash, the business applies for a loan with National Bank. The bank requires borrowers to submit financial statements. With little...

What is the time interval (in months) separating equivalent payments of $3500.00 and $3439.80 if money is worth 5 % per annum?

Compare the economic values of $1480 today vs. $1515 in 150 days. Assume money can earn 6.75%. At what rate would the two amounts be equivalent?

A $5000 payment is scheduled for 120 days from now. If money can earn 7.25%, calculate the payments equivalent value at each of nine different datestoday and every 30 days for the next 240 days.