Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and...
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Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): 1. What is your monthly payment? Correct Answers 2. What is the total S amount of payments made over the life of the loan 3. How many months will it take to pay off the loan if you pay an extra $302.33 per month? Note: Enter the month when the whole principal is paid off. Also, remember to show the amortization table for the original payment before you submit. Interest Paid Principle Paid Ending Balance Loan Input Data Principal Amount Annual Interest Rate Periods Per Year Total Number of Payments Percentage Rate Per Period Extra Payment per month Grade Mortgage Mortgage Score Total Score FEEDBACK: Amount $580,000,00 6.40% 12 360 $302.33 0.00 Payment Beginning No. Balance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Enter Answers Here. Payment Amount Complete the loan amortization schedule for a Mortgage that will be repaid over 360 months and answer the following questions (The details about the loan are shown below): 1. What is your monthly payment? Correct Answers 2. What is the total S amount of payments made over the life of the loan 3. How many months will it take to pay off the loan if you pay an extra $302.33 per month? Note: Enter the month when the whole principal is paid off. Also, remember to show the amortization table for the original payment before you submit. Interest Paid Principle Paid Ending Balance Loan Input Data Principal Amount Annual Interest Rate Periods Per Year Total Number of Payments Percentage Rate Per Period Extra Payment per month Grade Mortgage Mortgage Score Total Score FEEDBACK: Amount $580,000,00 6.40% 12 360 $302.33 0.00 Payment Beginning No. Balance 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 Enter Answers Here. Payment Amount
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Answer rating: 100% (QA)
1 Monthly payment 605425 with extra payment and 558854 without extrapayment 2 Total payments 1725087 ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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