Question: could you please help me with finding out the intrest balance and principal owing for the mortgage if you could could you please add the

could you please help me with finding out the intrest balance and principal owing for the mortgage could you please help me with finding out the intrest balance and
principal owing for the mortgage if you could could you please add
the calculation formula please Section 4 - Mortgage Calculation Instructions You Have
Decided to use a 20 year Amortization for your Mortgage. Use this
information to find the MONTHLY mortgage PAYMENT using the mortgage amount from
if you could could you please add the calculation formula please

Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 1.52%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 4 Years and 7 Months. Input all the TVM variables and answers into the fields below. Amortization Mortgage Amount From Previous Question $254961.48 20 Years -P/Y CY Present Value of Loan (PV P1 Months P2 Months 12 2 254961.48 1 Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) 240 1232.09 Mortgage Rate As % (I/Y) Value At End of loan (FV) PRINCIPAL PAID (PRN) 1.52 345144.47 Section Value: 7 INTEREST PAID (INT) Submit Answers TOTAL INT Section 5 - Mortgage Calculation Instructions Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 1.52% with a 25 year amortization mortgage. You will use the mortgage amount from previous sections. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. R Amortization Mortgage Amount From Previous Question $254961.48 25 Years 10 P/Y c/r Present Value of Loan (PV P1 Months P2 Months Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) Mortgage Rate As % (V/Y) Value At End of Loan (FVI- PRINCIPAL PAID (PRN) Section Value: 7 INTEREST PAID (INT) Submit Answers TSTA. Mortgage Calculations Section Value: 13 Instructions Please determine the amortization for the following two payment frequencies using the mortgage amount: $254961.48. Submit Answers Monthly PMT from Section 4 (HINT: Solve for N and adjust your mortgage payment from section 4.MAKE SURE YOUR PMT IS NEGATIVE.) Mortgage Rate As %/Y) Present Value of Loan (PV Value At End of loan (FV) 1.52 Question 1: Question 2: Payment Frequency 1 Weekly Formulas for coverting payment frequencies are in Chapter 7 of your textbook. Payment Frequency 2 Accel. Bi-Weekly P/Y C/Y P/ C/Y Number of Periods (N) Number of Periods (N) Payment (PMT) Payment (PMT) UT: ) Amortization in Years (2 Decimals Amortization in Years (2 Decibe CHOSEN Section 7 - Property Tax Instructions The City of Edmonton has assessed your property at a value of $301998.45 and the Mill Rate is 8.8869. What are the Annual and Monthly property tax amounts? Annual Property Tax Amount Monthly Property Tax Amount Instructions You will be getting possession of the home on July 1 st. What will the property tax adjustment be? Who will have to pay? WINTER20 Adjustment Amount Who Pays Adjustment? Section Value: 6 1 2 G Submit Answers ST D E F VE Section 8 - Qualification ID Part 1 With your Annual Income of: $135303.72 and the figures you already determined for a Stress Tested Monthly Mortgage Payment, and Property Tax of $, calculate Gross Debt Service Ratio. Assume the cost of heating the home will be $200.44. Do you qualify to purchase this home based on GDS Ratio If not, what is the income that you would require? PI M M Total Monthly GDS Expenses GOS Ratlo as a % le 3.45% Do they Quality on GDS! DOWN PAYM TOTAL MORTG CMHC PE NEW MORT Part 2 If you have consumer debt servicing in the amount of $1025.58 per month. What is the the TDS ratio? Do you qualify for the purchase based on this number If no, what is the income required to qualify Total Monthly TDS Experts TDS Ratio osa le 3.45% Do they Quality on TBSP BAL OUTSTAND TOTAL TOTAL Sedion Value: Submit Answers AGE CHOSEN

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!