Construct an amortization schedule for a 15-year, $500,000 loan with a 6.2% interest rate compounded monthly....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Construct an amortization schedule for a 15-year, $500,000 loan with a 6.2% interest rate compounded monthly. The loan will be paid back in 15 years making monthly payments. You need to calculate the principal payment and interest payment, respectively, of each month. Construct an amortization schedule for a 30-year, $500,000 loan with a 8.5% interest rate compounded monthly. The loan will be paid back in 30 years making monthly payments. You need to calculate the principal payment and interest payment, respectively, of each month. LOL Cur din Huis 20 Construct an amortization schedule for a 15-year, $500,000 loan with a 6.2% interest rate compounded monthly. The loan will be paid back in 15 years making monthly payments. You need to calculate the principal payment and interest payment, respectively, of each month. Construct an amortization schedule for a 30-year, $500,000 loan with a 8.5% interest rate compounded monthly. The loan will be paid back in 30 years making monthly payments. You need to calculate the principal payment and interest payment, respectively, of each month. LOL Cur din Huis 20
Expert Answer:
Answer rating: 100% (QA)
15year Amortization Schedule for 500000 loan at 62 interest compounded monthly Loan Amount 500000 ... 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:
Students also viewed these finance questions
-
Capital Construction has a staff of sales people like Kyla who receives a monthly salary of 2 600 plus a straight commission of 3 9 on all sales over 6 100 If she sells 8 300 what is her total gross...
-
Week 3 Discussion - Levels of Organizational Culture This week, you're learning about the three levels of organizational culture. For this discussion, address the following: How do the three levels...
-
An object moves from one point to another along a circular path with a radius of 5 m. If the angle between the two points with respect to the origin is 50, what is the distance traveled by the object...
-
A firm makes three types of furniture: beds, chairs and tables. The manufacturing times required to make them, the profit and capacity available at each work centre are given below; To make one unit...
-
The crate shown in Fig. 4-60 lies on a plane tilted at an angle θ = 25.0° to the horizontal, with µk = 0.19. (a) Determine the acceleration of the crate as it slides down the...
-
Find the inverse of each of the following matrices. (a) (b) (c) (d) (e) (f) 2 1 173 152 101 115 101 121 351 5021 4021 1010 00071 00510 (3100 21000 10000
-
Pleading rules are principally contained in the California Code of Civil Procedure. However, in addition to the CCP, local rules generally control mechanics. Find some special local rules that are...
-
All trucks traveling on Interstate 40 between Albuquerque and Amarillo are required to stop at a weigh station. Trucks arrive at the weigh station at a rate of 200 per 8-hour day, and the station can...
-
You have been asked to calculate the discount rate for 3 years from now using an interest rate of 3% and a risk factor of 2. What should the discount rate be?
-
In Problem, use the graph of the function f shown to estimate the indicated limits and function values. (A) (B) (C) (D) f(-2) (E) is it possible to redefine f(-2) so that Explain. Figure for 17-2...
-
ody and Clem want to buy a $700,000 machine that will improve the efficiency and effectiveness of their operations. The machine has a ten year life and no salvage value, the after tax cash flow of...
-
An art dealer advises that, for the best display of a painting, the area of the frame should be (1/5) the area of the painting. Determine the best width of the frame for a painting 20 cm by 20 cm, if...
-
1. Express the following equation in vertex form: y = coordinates of the vertex point. (4 points) 3x 12x + 22 and state the S
-
The revenue (in dollars) from the sale of x car seats for infants is given by the following function. R(x) 28x-0.010x2 0x2800 (A) Find the average change in revenue if production is changed from...
-
Criminal Charges Assignment Imagine that you are working as a paralegal in the Johnson County Attorney's Office. One of your responsibilities is the review of arrest reports and narratives to...
-
Suppose there are four sellers and four buyers in a market. Each seller sell one unit of output. The opportunity costs of producing one unit are given by $7, $5, $3, and $1 for seller 1,2,3,and 4...
-
The mean age of De Anza College students in a previous term was 26.6 years old. An instructor thinks the mean age for online students is older than 26.6. She randomly surveys 58 online students and...
-
An interest bearing promissory note for 90 days at 5.6% p.a. has a face value of $120,000. If the note is discounted 20 days after the issue date at a rate of 6.8% p.a., calculate the amount of...
-
Van makes an investment in a partnership in 2012. Van's capital contributions to the partnership consisted of $30,000 cash and a building with an adjusted basis of$70,000, subject to a nonrecourse...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1 and 2. On September 1, Irene opened a retail store that specializes in sports car...
-
Yolanda is a cash basis taxpayer with the following transactions during the year: Cash received from sales of products........................................................................$65,000...
-
The output response of a first order system with excitation is: (a) \(y=x\left(1-e^{-t / \tau} ight)\) (b) \(y=x e^{-t / \tau}\) (c) \(y=x\left(1+e^{-t / \tau} ight)\) (d) \(y=x\left(1-e^{t \tau}...
-
What is an actuator? List various types of actuators.
-
What is a regulator?
Study smarter with the SolutionInn App