Question: Mortgage amortization A B C D E F G H 1 Mortgage Amortization N Complete the loan amortization schedule for a Mortgage that will be

Mortgage amortization

A B C D E F G H 1 Mortgage Amortization N 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): Correct Answers 4 1. What is your monthly payment? UT 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 3. How many months will it take to pay off the loan if you pay an extra $133.06 per month? VO 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. Payment Beginning Balance Payment No. Interest Paid Principle Paid Ending Balance 8 Amount 9 Loan Input Data Amount 10 Principal Amount $240,000.00 11 Annual Interest Rate 7.00% 12 Periods Per Year 12 13 Total Number of Payments 360 O. J Q UI A WIN 14 Percentage Rate Per Period 15 Extra Payment per month $133.06 16 17 Grade Mortgage 18 10 19 Mortgage Score 20 Total Score 0.00 12 21 13 22 14 23 15 24 16 25 17 26 FEEDBACK: 18 27 19 28 20 O.Case Instructions CarLoan Mortgage + Ready + 100% 8:56 PM

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!

Sames Galore has provided its condensed financial statements for the year ended December 31,2016 . The Controller has isked you to calculate liquidity, solvency, and profitability ratios that...

Project Description: Flanky/s, a small manufacturer of custom clothing for dogs and cats, is considering the purchase of a new building as part of its long-term strategic plan. You have been asked to...

Need Adjusting Journal Entries, Adjusted Trail Balance, Income Statement, Statement of Retained Earnings, Balance sheet, Closing Entries, Post Closing Trail Balance. I have plenty of questions left...

6 Monthly stock investment 850 7 69 69 Monthly bond investment 350 8 Stock return 10% Bond return 6% 10 Years to save 30 11 Retirement return 5% 12 Retirement years 25 13 Months per year 12 14 15 16...

Introduction In 2015, PayPal was spun off from eBay and provides electronic payment solutions for both consumers and merchants and maintains a focus on online transactions. For this assignment,...

QUESTION 10 A borrower agrees to a $200,000, 30-year fixed-rate mortgage with a 6% (or 0.5% per month) quoted interest rate. How much of the first payment goes to principle? b. $205 c. $220 d $308 e....

S AFAWorksheet - Template - Protected... Saved to this PC v Search Ryan hohammed @ - o X File Home Insert Pagelayout Formulas Data Review View Automate Help 'l\\_} PROTECTED VIEW Be carefulfiles from...

Budget Information Based on your discussions with the various departments throughout the company, you have collected the following relevant information for preparing the budget: Sales 1. The...

I want to know how all the numbers are going and which ones are specific to organize them by cell 00 Estilos de celda v Formato y filtrar seleccionar datos G14 X V fx A B C D E F G H K L M N O Smith...

Question 1 Ongoing Analysis Project An important part of learning is application. To learn accounting, we must practice the skills taught and apply those skills to real-world problems. To that end,...

W AutoSave Off Information(1) (1) . Saved to this PC Search (Alt+Q) Tho Nguyen X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share This is adapted from a 2014...

Would a dollar tomorrow be worth more to you today when the interest rate is 20% or when it is 10%?

The Alfred Co produces three products, X, Y and Z, all made from thesame material. Until now, Alfred Co. has used absorption costing method to allocate overheads to its products. The company is now...

Assume that a purchasing manager uses two suppliers, Murray Inc. and Plata Associates, as the source of two machine parts: Part A1 and Part B2. Consider two activities: repairing products (under...

Consider a CMBS backed by a 80% LTV loan of a $50,000,000 office building. The loan is interest only with an 8% mortgage rate issued for 3 years with monthly payments. The CMBS is issued with 37.5%...