The following is an amortization schedule for a $250,000 loan with Interest rate xxx, monthly payment...
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The following is an amortization schedule for a $250,000 loan with Interest rate xxx, monthly payment xxx, and service fee rate xxx. Please use the data table below to answer the questions below: A Payment 1 2 3 4 5 6 7 8 9 10 11 12 13 14 B P&I Constant C D Service Interest fee Rate Rate E Net Interest Rate 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.280% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250 % 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% F G Gross Principal Interest 300.38 1,041.67 301.63 1,040.42 302.89 1,039.16 304.15 1,037.90 305.42 1,036.63 306.69 1,035.36 307.97 1,034.08 309.25 1,032.80 310.54 1,031.51 311.84 1,030.21 313.14 1,028.91 314.44 1,027.61 315.75 1,026.30 317.07 1,024.98 H Service Fee c. Write at least one equation for how to calculate Net Interest. I Net Interest 52.08 989.59 52.02 988.40 51.96 987.20 51.90 986.00 51.83 984.80 51.77 983.59 51.71 982.37 51.64 981.16 51.58 979.93 51.51 978.70 51.44 977.47 51.38 976.23 51.32 974.98 973.73 J Unpaid Principal Balance 250,000.00 249,699.62 249,397.99 249,095.10 248,790.95 248,485.53 248,178.84 247,870.87 247,561.62 247,251.08 246,939.24 246,626.10 246,311.66 245,995.91 245,678.84 a. Without doing any major calculations and using the data in the table - please infer by using the table what the missing Service Fee value could be in the highlighted cell H14. b. There is one typo in this table. Please identify it and tell us what is incorrect about it. (Note: It is not a calculation error.) The following is an amortization schedule for a $250,000 loan with Interest rate xxx, monthly payment xxx, and service fee rate xxx. Please use the data table below to answer the questions below: A Payment 1 2 3 4 5 6 7 8 9 10 11 12 13 14 B P&I Constant C D Service Interest fee Rate Rate E Net Interest Rate 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.280% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250 % 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% 1,342.05 5.00% 0.250% 4.75% F G Gross Principal Interest 300.38 1,041.67 301.63 1,040.42 302.89 1,039.16 304.15 1,037.90 305.42 1,036.63 306.69 1,035.36 307.97 1,034.08 309.25 1,032.80 310.54 1,031.51 311.84 1,030.21 313.14 1,028.91 314.44 1,027.61 315.75 1,026.30 317.07 1,024.98 H Service Fee c. Write at least one equation for how to calculate Net Interest. I Net Interest 52.08 989.59 52.02 988.40 51.96 987.20 51.90 986.00 51.83 984.80 51.77 983.59 51.71 982.37 51.64 981.16 51.58 979.93 51.51 978.70 51.44 977.47 51.38 976.23 51.32 974.98 973.73 J Unpaid Principal Balance 250,000.00 249,699.62 249,397.99 249,095.10 248,790.95 248,485.53 248,178.84 247,870.87 247,561.62 247,251.08 246,939.24 246,626.10 246,311.66 245,995.91 245,678.84 a. Without doing any major calculations and using the data in the table - please infer by using the table what the missing Service Fee value could be in the highlighted cell H14. b. There is one typo in this table. Please identify it and tell us what is incorrect about it. (Note: It is not a calculation error.)
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Related Book For 
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
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