The interest rate for the first five years of an $100,000 mortgage loan is 9,4% compounded...

  

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The interest rate for the first five years of an $100,000 mortgage loan is 9,4% compounded semiannually. Monthly payments are calculated using a 20-year amortization. a. What will be the principal balance at the end of the five-year term? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Principal balance $ b. What will be the monthly payments if the loan is renewed at 6.8% compounded semiannually (and the original amortization period is continued)? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment $ per month Golden Dragon Restaurant obtained a $10,600 loan at 9% compounded annually to replace some kitchen equipment. Prepare a complete amortization schedule if the loan is repaid by semiannual payments over a three-year term. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) Payment number Payment S 0 1 Interest portion $ Principal portion $ Principal balance $ 10,600.00 The interest rate for the first five years of an $100,000 mortgage loan is 9,4% compounded semiannually. Monthly payments are calculated using a 20-year amortization. a. What will be the principal balance at the end of the five-year term? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Principal balance $ b. What will be the monthly payments if the loan is renewed at 6.8% compounded semiannually (and the original amortization period is continued)? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment $ per month Golden Dragon Restaurant obtained a $10,600 loan at 9% compounded annually to replace some kitchen equipment. Prepare a complete amortization schedule if the loan is repaid by semiannual payments over a three-year term. (Do not round intermediate calculations. Round your answers to 2 decimal places. Leave no cells blank - be certain to enter "0" wherever required.) Payment number Payment S 0 1 Interest portion $ Principal portion $ Principal balance $ 10,600.00

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