Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into— Selling priceDown paymentAmount mortgageRateYearsMonthly paymentInterestPrincipalBalance at end of month $221,000$44,200 7.00%15 TABLE 15-1Amortization table (mortgage principal and interest per $1,000)INTERESTTermin years3%5%51%6%64%7%8%94%10일%7%8%9%10%11%109.8910.6110.8611.1111.3611.6211.8812.1412.4012.6712.9413.2213.5013.78128.529.259.519.7610.0210.2910.5610.8311.1111.3911.6711.9612.2512.54157.157.918.188.448.728.999.289.569.8510.1510.4510.7511.0611.37176.527.297.567.848.128.408.698.999.299.599.9010.2210.5410.86205.806.606.887.177.467.768.068.378.689.009.339.669.9910.33225.446.206.516.827.137.447.758.078.398.729.059.399.7310.08255.015.856.156.456.767.077.397.728.068.408.749.099.459.81304.505.375.686.006.336.667.007.347.698.058.418.789.159.53353.995.055.385.716.056.396.757.117.477.848.228.608.999.37

working notes : Amount mortgage = Selling price - Down payment $221,000 - $44,200 =$1,76,800…

Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into— Selling price Down payment Amount mortgage Rate Years Monthly payment Interest Principal Balance at end of month $221,000 $44,200 7.00 % 15

Complete the following table: (Use Table 15.1.) (Do not round intermediate calculations. Round your answers to the nearest cent.) First Payment Broken Down Into— Selling price Down payment Amount mortgage Rate Years Monthly payment Interest Principal Balance at end of month $221,000 $44,200 7.00 % 15

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter10: Liabilities: Current, Installment Notes, And Contingencies

Section: Chapter Questions

Problem 10.1EX: Current liabilities Bon Nebo Co. sold 25,000 annual subscriptions of Bjorn for 85 during December...

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	First Payment Broken Down Into—
Selling price	Down payment	Amount mortgage	Rate	Years	Monthly payment	Interest	Principal	Balance at end of month
$221,000	$44,200		7.00	%	15