Trashia has a mortgage of $474,000 through her bank for property purchased. The loan is repaid by end of month payments of $2,839.48 with an interest rate of 4.8% compounded monthly over 23 years. What is the interest paid in the 7th year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places. P1 = P2 = Interest paid in 7th year = $ (enter a positive value)

Trashia has a mortgage of $474,000 through her bank for property purchased. The loan is repaid by end of month payments of $2,839.48 with an interest rate of 4.8% compounded monthly over 23 years. What is the interest paid in the 7th year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places. P1 = P2 = Interest paid in 7th year = $ (enter a positive value)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Jasmin has a mortgage of $296,000 through her bank for property purchased. The loan is repaid by end of month payments of $2,460.61 with an interest rate of 6.36% compounded monthly over 16 years. What is the interest paid in the 3rd year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places. P1 = 17,017.5 x P2 - 284,980. X Interest paid in 3rd year = $ 17,017.5 (enter a positive value)
Jasmin has a mortgage of $296,000 through her bank for property purchased. The loan is repaid by end of month payments of $2,460.61 with an interest rate of 6.36% compounded monthly over 16 years. What is the interest paid in the 3rd year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places. P1 = 260,730. X P2 = Interest paid in 3rd year Submit Question = 273,240. X $ 17,017.5 (enter a positive value)
Rosetta has a mortgage of $328,000 through her bank for property purchased. The loan is repaid by end of month payments of $2,135.16 with an interest rate of 5.45% compounded monthly over 22 years. What is the interest paid in the 5th year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places. P1 = P2 = Interest paid in 5th year = (enter a positive value)
Kylie has a mortgage of $563,000 through her bank for property purchased. The loan is repaid by end of month payments of $4,493.68 with an interest rate of 6.27% compounded monthly over 17 years. What is the interest paid in the 6th year of the mortgage? Interest paid in 6th year = $ (Enter in a positive amount for your answer.) Submit Question
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Anna has a mortgage of $427,000 through her bank for property purchased. The loan is repaid by end of month payments of $2,598.80 with an interest rate of 4.05% compounded monthly over 20 years. What is the interest included in the 47th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. $
Kristina has a mortgage of $575,000 through her bank for property purchased. The loan is repaid by end of month payments of $4,182.71 with an interest rate of 6.96% compounded monthly over 23 years. What is the interest included in the 39th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. %24
Miracle has a mortgage of $257,000 through her bank for property purchased. The loan is repaid by end of month payments of $1,801.36 with an interest rate of 6.3% compounded monthly over 22 years. What is the interest included in the 50th payment of the mortgage? Enter a POSITIVE VALUE rounded to two decimal places. $
Tristan has a mortgage of $330,000 through his bank for property purchased. The loan is repaid by end of month payments of $2,820.51 with an interest rate of 6.2% compounded monthly over 15 years. What is the interest paid in the 5th year of the mortgage? Enter a POSITIVE VALUE for the answer, rounded to two decimal places. P1 == P2 Interest paid in 5th year = = $ (enter a positive value) 13
Jillian and Collin borrowed $62,000 at 7.61% compounded monthly as a second mortgage loan against their current home. Repayment amount is $6,900 at the end of every six months. a. How many payments are required to repay the loan? Number of payments b. Use the given information to complete the amortization table below. Determine the missing values for the first two payment intervals, the last two payment intervals, and the totals. Report results to the nearest cent. Payment Amount Number Paid ($) 0 1 2 : : N - 1 N Total 6,900.00 6,900.00 : : = 6,900.00 Interest Paid ($) : : : Principal Repaid ($) : : Outstanding Balance ($) 62,000.00 : : 0.00
Elijah took out a mortgage of $672,000 for a house and just made the 113th end of month payment. Interest on the loan was 3.88% compounded monthly and the mortgage has a period of 20 years. Round ALL answers to two decimal places if necessary. 1) What are his monthly payments? P/Y = I/Y = % BAL= $ positive value) C/Y = (enter a PV = $ PMT = $ N = 2) What is his current outstanding balance after the 113th payment? FV = $
Jada and Izaak borrowed $40,000 at 5.53% compounded quarterly as a second mortgage loan against their current home. Repayment amount is $750 at the end of every month. a. How many payments are required to repay the loan? Number of payments 61 b. Use the given information to complete the amortization table below. Determine the missing values for the first two payment intervals, the last two payment intervals, and the totals. Report results to the nearest cent. Payment Amount Number Paid ($) 0 1 2 N - 1 N Total 750.00 750.00 : : 750.00 2,175.72 X 47,175.72 X Interest Paid ($) 183.49 192.61 10.58 6.96 : : : X 6,432.68 X X X Principal Repaid ($) 566.51 557.39 : 739.42 1,425.72 X 40,000 X X X Outstanding Balance ($) 40,000.00 39,433.49 38,876.10 : X 1,425.72 X 0.00

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