QUESTION 1.1

QUESTION 1.2

QUESTION 1.3

QUESTION 1.4

Emilio took out a mortgage of $558,000 for a house and just made the 72 nd end of month payment. Interest on the Ioan was 3.42% compounded monthly and the mortgage has a period of 19 years. Round ALL answers to two decimal places if necessary. 1) What are his monthly payments? 2) What is his current outstanding balance after the 72 nd payment? Banu and Christopher borrowed $55,000 at 7.04% compounded annually as a second mortgage loan against their iurrent home. Repayment amount is $2,450 at the end of every three months. a. How many payments are required to repay the loan? Number of payments = b. Use the given information to complete the amortization table below. Determine the missing values for the first two payment intervals, the last two payment intervals, and the totals. Report results to the nearest cent. A $23,330 loan is to be settled by making payments of $6,913 at the end of every three months. The interest is 6.94% compounded monthly. a) Find the number of payments in the term. N= b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. You have taken out a loan of $24,000 for 4 years with an interest rate of 3% compounded annually. The loan will be repaid by end of year payments. Fill in all the boxes below, and round all entries to the nearest cent. Enter only positive values for ALL ANSWERS. First 3 payment amounts: $ Emilio took out a mortgage of $558,000 for a house and just made the 72 nd end of month payment. Interest on the Ioan was 3.42% compounded monthly and the mortgage has a period of 19 years. Round ALL answers to two decimal places if necessary. 1) What are his monthly payments? 2) What is his current outstanding balance after the 72 nd payment? Banu and Christopher borrowed $55,000 at 7.04% compounded annually as a second mortgage loan against their iurrent home. Repayment amount is $2,450 at the end of every three months. a. How many payments are required to repay the loan? Number of payments = b. Use the given information to complete the amortization table below. Determine the missing values for the first two payment intervals, the last two payment intervals, and the totals. Report results to the nearest cent. A $23,330 loan is to be settled by making payments of $6,913 at the end of every three months. The interest is 6.94% compounded monthly. a) Find the number of payments in the term. N= b) Fill in the missing values of the amortization schedule below. Round off your answers to two decimal places. Enter a positive value for all answers. You have taken out a loan of $24,000 for 4 years with an interest rate of 3% compounded annually. The loan will be repaid by end of year payments. Fill in all the boxes below, and round all entries to the nearest cent. Enter only positive values for ALL ANSWERS. First 3 payment amounts: $