Prepare an amortization schedule for the first 3 payments (in $) of a $66,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.) Payment Number Monthly Payment Monthly Interest Portion Used to Reduce Principal Loan Balance 0 $ 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments(Necessary to amortize a loan of $1,000) Interest Rate (%) 5 Years 10 Years 15 Years 20 Years 25 Years 30 Years 35 Years 40 Years 3.50 18.19 9.89 7.15 5.80 5.01 4.49 4.13 3.87 3.75 18.30 10.01 7.27 5.93 5.14 4.63 4.28 4.03 4.00 18.42 10.12 7.40 6.06 5.28 4.77 4.43 4.18 4.25 18.53 10.24 7.52 6.19 5.42 4.92 4.58 4.34 4.50 18.64 10.36 7.65 6.33 5.56 5.07 4.73 4.50 4.75 18.76 10.48 7.78 6.46 5.70 5.22 4.89 4.66 5.00 18.87 10.61 7.91 6.60 5.85 5.37 5.05 4.82 5.25 18.99 10.73 8.04 6.74 5.99 5.52 5.21 4.99 5.50 19.10 10.85 8.17 6.88 6.14 5.68 5.37 5.16 5.75 19.22 10.98 8.30 7.02 6.29 5.84 5.54 5.33 6.00 19.33 11.10 8.44 7.16 6.44 6.00 5.70 5.50 6.25 19.45 11.23 8.57 7.31 6.60 6.16 5.87 5.68 6.50 19.57 11.35 8.71 7.46 6.75 6.32 6.04 5.85 6.75 19.68 11.48 8.85 7.6 6.91 6.49 6.21 6.03 7.00 19.80 11.61 8.99 7.75 7.07 6.65 6.39 6.21 7.25 19.92 11.74 9.13 7.90 7.23 6.82 6.56 6.40 7.50 20.04 11.87 9.27 8.06 7.39 6.99 6.74 6.58 7.75 20.16 12.00 9.41 8.21 7.55 7.16 6.92 6.77 8.00 20.28 12.13 9.56 8.36 7.72 7.34 7.10 6.95 8.25 20.40 12.27 9.70 8.52 7.88 7.51 7.28 7.14 8.50 20.52 12.40 9.85 8.68 8.05 7.69 7.47 7.33 8.75 20.64 12.53 9.99 8.84 8.22 7.87 7.65 7.52 9.00 20.76 12.67 10.14 9.00 8.39 8.05 7.84 7.71 9.25 20.88 12.80 10.29 9.16 8.56 8.23 8.03 7.91 9.50 21.00 12.94 10.44 9.32 8.74 8.41 8.22 8.10 9.75 21.12 13.08 10.59 9.49 8.91 8.59 8.41 8.30 10.00 21.25 13.22 10.75 9.65 9.09 8.78 8.60 8.49 10.25 21.37 13.35 10.90 9.82 9.26 8.96 8.79 8.69 10.50 21.49 13.49 11.05 9.98 9.44 9.15 8.98 8.89 10.75 21.62 13.63 11.21 10.15 9.62 9.33 9.18 9.08 11.00 21.74 13.78 11.37 10.32 9.80 9.52 9.37 9.28 11.25 21.87 13.92 11.52 10.49 9.98 9.71 9.56 9.48 11.50 21.99 14.06 11.68 10.66 10.16 9.90 9.76 9.68 11.75 22.12 14.20 11.84 10.84 10.35 10.09 9.96 9.88 12.00 22.24 14.35 12.00 11.01 10.53 10.29 10.16 10.08 12.25 22.37 14.49 12.16 11.19 10.72 10.48 10.35 10.29 12.50 22.50 14.64 12.33 11.36 10.9 10.67 10.55 10.49 12.75 22.63 14.78 12.49 11.54 11.09 10.87 10.75 10.69 13.00 22.75 14.93 12.65 11.72 11.28 11.06 10.95 10.90
Prepare an amortization schedule for the first 3 payments (in $) of a $66,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.) Payment Number Monthly Payment Monthly Interest Portion Used to Reduce Principal Loan Balance 0 $ 1 $ $ $ $ 2 $ $ $ $ 3 $ $ $ $ Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed Monthly Payments(Necessary to amortize a loan of $1,000) Interest Rate (%) 5 Years 10 Years 15 Years 20 Years 25 Years 30 Years 35 Years 40 Years 3.50 18.19 9.89 7.15 5.80 5.01 4.49 4.13 3.87 3.75 18.30 10.01 7.27 5.93 5.14 4.63 4.28 4.03 4.00 18.42 10.12 7.40 6.06 5.28 4.77 4.43 4.18 4.25 18.53 10.24 7.52 6.19 5.42 4.92 4.58 4.34 4.50 18.64 10.36 7.65 6.33 5.56 5.07 4.73 4.50 4.75 18.76 10.48 7.78 6.46 5.70 5.22 4.89 4.66 5.00 18.87 10.61 7.91 6.60 5.85 5.37 5.05 4.82 5.25 18.99 10.73 8.04 6.74 5.99 5.52 5.21 4.99 5.50 19.10 10.85 8.17 6.88 6.14 5.68 5.37 5.16 5.75 19.22 10.98 8.30 7.02 6.29 5.84 5.54 5.33 6.00 19.33 11.10 8.44 7.16 6.44 6.00 5.70 5.50 6.25 19.45 11.23 8.57 7.31 6.60 6.16 5.87 5.68 6.50 19.57 11.35 8.71 7.46 6.75 6.32 6.04 5.85 6.75 19.68 11.48 8.85 7.6 6.91 6.49 6.21 6.03 7.00 19.80 11.61 8.99 7.75 7.07 6.65 6.39 6.21 7.25 19.92 11.74 9.13 7.90 7.23 6.82 6.56 6.40 7.50 20.04 11.87 9.27 8.06 7.39 6.99 6.74 6.58 7.75 20.16 12.00 9.41 8.21 7.55 7.16 6.92 6.77 8.00 20.28 12.13 9.56 8.36 7.72 7.34 7.10 6.95 8.25 20.40 12.27 9.70 8.52 7.88 7.51 7.28 7.14 8.50 20.52 12.40 9.85 8.68 8.05 7.69 7.47 7.33 8.75 20.64 12.53 9.99 8.84 8.22 7.87 7.65 7.52 9.00 20.76 12.67 10.14 9.00 8.39 8.05 7.84 7.71 9.25 20.88 12.80 10.29 9.16 8.56 8.23 8.03 7.91 9.50 21.00 12.94 10.44 9.32 8.74 8.41 8.22 8.10 9.75 21.12 13.08 10.59 9.49 8.91 8.59 8.41 8.30 10.00 21.25 13.22 10.75 9.65 9.09 8.78 8.60 8.49 10.25 21.37 13.35 10.90 9.82 9.26 8.96 8.79 8.69 10.50 21.49 13.49 11.05 9.98 9.44 9.15 8.98 8.89 10.75 21.62 13.63 11.21 10.15 9.62 9.33 9.18 9.08 11.00 21.74 13.78 11.37 10.32 9.80 9.52 9.37 9.28 11.25 21.87 13.92 11.52 10.49 9.98 9.71 9.56 9.48 11.50 21.99 14.06 11.68 10.66 10.16 9.90 9.76 9.68 11.75 22.12 14.20 11.84 10.84 10.35 10.09 9.96 9.88 12.00 22.24 14.35 12.00 11.01 10.53 10.29 10.16 10.08 12.25 22.37 14.49 12.16 11.19 10.72 10.48 10.35 10.29 12.50 22.50 14.64 12.33 11.36 10.9 10.67 10.55 10.49 12.75 22.63 14.78 12.49 11.54 11.09 10.87 10.75 10.69 13.00 22.75 14.93 12.65 11.72 11.28 11.06 10.95 10.90
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 12P
Related questions
Question
Prepare an amortization schedule for the first 3 payments (in $) of a $66,000 mortgage at 5% for 20 years. Use this table. (Round your answers to the nearest cent.)
Payment Number | Monthly Payment | Monthly Interest | Portion Used to Reduce Principal | Loan Balance |
---|---|---|---|---|
0 | $ | |||
1 | $ | $ | $ | $ |
2 | $ | $ | $ | $ |
3 | $ | $ | $ | $ |
Table 14-1: Monthly Payments to Amortize Principal and Interest per $1,000 Financed
Monthly Payments(Necessary to amortize a loan of $1,000)
Interest Rate (%) |
5 Years |
10 Years |
15 Years |
20 Years |
25 Years |
30 Years |
35 Years |
40 Years |
---|---|---|---|---|---|---|---|---|
3.50 | 18.19 | 9.89 | 7.15 | 5.80 | 5.01 | 4.49 | 4.13 | 3.87 |
3.75 | 18.30 | 10.01 | 7.27 | 5.93 | 5.14 | 4.63 | 4.28 | 4.03 |
4.00 | 18.42 | 10.12 | 7.40 | 6.06 | 5.28 | 4.77 | 4.43 | 4.18 |
4.25 | 18.53 | 10.24 | 7.52 | 6.19 | 5.42 | 4.92 | 4.58 | 4.34 |
4.50 | 18.64 | 10.36 | 7.65 | 6.33 | 5.56 | 5.07 | 4.73 | 4.50 |
4.75 | 18.76 | 10.48 | 7.78 | 6.46 | 5.70 | 5.22 | 4.89 | 4.66 |
5.00 | 18.87 | 10.61 | 7.91 | 6.60 | 5.85 | 5.37 | 5.05 | 4.82 |
5.25 | 18.99 | 10.73 | 8.04 | 6.74 | 5.99 | 5.52 | 5.21 | 4.99 |
5.50 | 19.10 | 10.85 | 8.17 | 6.88 | 6.14 | 5.68 | 5.37 | 5.16 |
5.75 | 19.22 | 10.98 | 8.30 | 7.02 | 6.29 | 5.84 | 5.54 | 5.33 |
6.00 | 19.33 | 11.10 | 8.44 | 7.16 | 6.44 | 6.00 | 5.70 | 5.50 |
6.25 | 19.45 | 11.23 | 8.57 | 7.31 | 6.60 | 6.16 | 5.87 | 5.68 |
6.50 | 19.57 | 11.35 | 8.71 | 7.46 | 6.75 | 6.32 | 6.04 | 5.85 |
6.75 | 19.68 | 11.48 | 8.85 | 7.6 | 6.91 | 6.49 | 6.21 | 6.03 |
7.00 | 19.80 | 11.61 | 8.99 | 7.75 | 7.07 | 6.65 | 6.39 | 6.21 |
7.25 | 19.92 | 11.74 | 9.13 | 7.90 | 7.23 | 6.82 | 6.56 | 6.40 |
7.50 | 20.04 | 11.87 | 9.27 | 8.06 | 7.39 | 6.99 | 6.74 | 6.58 |
7.75 | 20.16 | 12.00 | 9.41 | 8.21 | 7.55 | 7.16 | 6.92 | 6.77 |
8.00 | 20.28 | 12.13 | 9.56 | 8.36 | 7.72 | 7.34 | 7.10 | 6.95 |
8.25 | 20.40 | 12.27 | 9.70 | 8.52 | 7.88 | 7.51 | 7.28 | 7.14 |
8.50 | 20.52 | 12.40 | 9.85 | 8.68 | 8.05 | 7.69 | 7.47 | 7.33 |
8.75 | 20.64 | 12.53 | 9.99 | 8.84 | 8.22 | 7.87 | 7.65 | 7.52 |
9.00 | 20.76 | 12.67 | 10.14 | 9.00 | 8.39 | 8.05 | 7.84 | 7.71 |
9.25 | 20.88 | 12.80 | 10.29 | 9.16 | 8.56 | 8.23 | 8.03 | 7.91 |
9.50 | 21.00 | 12.94 | 10.44 | 9.32 | 8.74 | 8.41 | 8.22 | 8.10 |
9.75 | 21.12 | 13.08 | 10.59 | 9.49 | 8.91 | 8.59 | 8.41 | 8.30 |
10.00 | 21.25 | 13.22 | 10.75 | 9.65 | 9.09 | 8.78 | 8.60 | 8.49 |
10.25 | 21.37 | 13.35 | 10.90 | 9.82 | 9.26 | 8.96 | 8.79 | 8.69 |
10.50 | 21.49 | 13.49 | 11.05 | 9.98 | 9.44 | 9.15 | 8.98 | 8.89 |
10.75 | 21.62 | 13.63 | 11.21 | 10.15 | 9.62 | 9.33 | 9.18 | 9.08 |
11.00 | 21.74 | 13.78 | 11.37 | 10.32 | 9.80 | 9.52 | 9.37 | 9.28 |
11.25 | 21.87 | 13.92 | 11.52 | 10.49 | 9.98 | 9.71 | 9.56 | 9.48 |
11.50 | 21.99 | 14.06 | 11.68 | 10.66 | 10.16 | 9.90 | 9.76 | 9.68 |
11.75 | 22.12 | 14.20 | 11.84 | 10.84 | 10.35 | 10.09 | 9.96 | 9.88 |
12.00 | 22.24 | 14.35 | 12.00 | 11.01 | 10.53 | 10.29 | 10.16 | 10.08 |
12.25 | 22.37 | 14.49 | 12.16 | 11.19 | 10.72 | 10.48 | 10.35 | 10.29 |
12.50 | 22.50 | 14.64 | 12.33 | 11.36 | 10.9 | 10.67 | 10.55 | 10.49 |
12.75 | 22.63 | 14.78 | 12.49 | 11.54 | 11.09 | 10.87 | 10.75 | 10.69 |
13.00 | 22.75 | 14.93 | 12.65 | 11.72 | 11.28 | 11.06 | 10.95 | 10.90 |
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