Notes: 1) Round your answers to the nearest cent. 2) You may have a small amount of payment left over in the amortization table due to rounding errors. This is normal. 3) Once you finish working on a particular sheet, click the "Grade" Button Note: Once you click grade, you will be shown the correct answers and given feedback. However, the sheet will be locked from further editing. Grading Scheme: (10 points Total) Car Loan (4 points) Mortgage (6 points) 1.25 points each for correct Answers (2.5 total) 1.25 points each for correct Answers (2.5 total) 1.5 points for correct Amortization Table 1.5 points for correct Amortization Table (2 points for correct payoff month with extra payment. J K L B C D E F 1 Car Loan Amortization Complete the loan amortization schedule for a car loan that will be repaid over 60 months and answer the following questions (The details about the loan are shown below): 3 Correct Answers 4 1 1. What is your monthly payment? 5 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 6 Payment Amount Interest Paid Principle Paid Ending Balance Amount 17,000.00 4.30% 12 60 0.00 7 B Loan Input Data Principal Amount 0 Annual Interest Rate 1 Periods Per Year Total Number of Payments 3 Percentage Rate Per Period 4 5 6 Grade Car Loan 7 8 9 Car Loan Score 0 Total Score 1 2 3 24 5 FEEDBACK: 26 7 8 9 = 0 1 2 3 4 5 6 7 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 O.Case Instructions CarLoan Mortgage + J K L 4 9 B C D E F G H I 1 Mortgage Amortization 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): 3 Correct Answers 1 1. What is your monthly payment? 5 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 5 3. How many months will it take to pay off the loan if you pay an extra $130.89 per month? - 7 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 Payment No. Beginning Balance 3 Interest Paid Principle Paid Ending Balance Amount Loan Input Data Amount 1 0 Principal Amount 310,000.00 2 2 1 Annual Interest Rate 4.50% 3 Periods Per Year 12 3 Total Number of Payments 360 S Percentage Rate Per Period 6 Extra Payment per month 130.89 7 6 8 Grade Mortgage 7 9 8 10 9 Mortgage Score 11 1 1 0 Total Score 0.00 12 1 13 1 2 14 1 3 15 12 4 16 10 5 17 1 6 FEEDBACK: 18 7 19 8 20 9 21 0 22 1 . 23 2 24 3 25 4 26 5 27 6 28 7 29 0.Case Instructions CarLoan Mortgage + Notes: 1) Round your answers to the nearest cent. 2) You may have a small amount of payment left over in the amortization table due to rounding errors. This is normal. 3) Once you finish working on a particular sheet, click the "Grade" Button Note: Once you click grade, you will be shown the correct answers and given feedback. However, the sheet will be locked from further editing. Grading Scheme: (10 points Total) Car Loan (4 points) Mortgage (6 points) 1.25 points each for correct Answers (2.5 total) 1.25 points each for correct Answers (2.5 total) 1.5 points for correct Amortization Table 1.5 points for correct Amortization Table (2 points for correct payoff month with extra payment. J K L B C D E F 1 Car Loan Amortization Complete the loan amortization schedule for a car loan that will be repaid over 60 months and answer the following questions (The details about the loan are shown below): 3 Correct Answers 4 1 1. What is your monthly payment? 5 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 6 Payment Amount Interest Paid Principle Paid Ending Balance Amount 17,000.00 4.30% 12 60 0.00 7 B Loan Input Data Principal Amount 0 Annual Interest Rate 1 Periods Per Year Total Number of Payments 3 Percentage Rate Per Period 4 5 6 Grade Car Loan 7 8 9 Car Loan Score 0 Total Score 1 2 3 24 5 FEEDBACK: 26 7 8 9 = 0 1 2 3 4 5 6 7 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 O.Case Instructions CarLoan Mortgage + J K L 4 9 B C D E F G H I 1 Mortgage Amortization 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): 3 Correct Answers 1 1. What is your monthly payment? 5 2. What is the total $ amount of payments made over the life of the loan Enter Answers Here. 5 3. How many months will it take to pay off the loan if you pay an extra $130.89 per month? - 7 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 Payment No. Beginning Balance 3 Interest Paid Principle Paid Ending Balance Amount Loan Input Data Amount 1 0 Principal Amount 310,000.00 2 2 1 Annual Interest Rate 4.50% 3 Periods Per Year 12 3 Total Number of Payments 360 S Percentage Rate Per Period 6 Extra Payment per month 130.89 7 6 8 Grade Mortgage 7 9 8 10 9 Mortgage Score 11 1 1 0 Total Score 0.00 12 1 13 1 2 14 1 3 15 12 4 16 10 5 17 1 6 FEEDBACK: 18 7 19 8 20 9 21 0 22 1 . 23 2 24 3 25 4 26 5 27 6 28 7 29 0.Case Instructions CarLoan Mortgage +