Use this table to find the monthly mortgage payments, when necessary. Find the total interest for a mortgage of $116,500 at 7% for 30 years. O $158,513.28 $162,401.00 $180,473.34 O $270,509.00
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- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?Use the formula or a calculator application to find the total interest paid for the home mortgage of $279,185 at 4.697% interest for 30 years given that the monthly payment is $1,446.62.Find the monthly payment (in $) and the total interest (in $) for a mortgage of $46,000 at 5 3/4 % for 40 Years
- Compute the interest paid on a 30-year mortgage for $216,427 if the annual interest rate is 3.8%.Please show how to solve a. b. and c. using the information below and Excel. Interest-only mortgage with monthly payments and loan amount: $56,000; Term: 15 years; Annual interest rate: 7.5% a. What is the total payment in the 180th month? b. What is the outstanding balance at the end of 10 years (120 months)? c. What is the total interest payment during the entire loan term (180 months)?Consider a home mortgage of $225,000 at a fixed APR of 3% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
- Suppose you have a 30 year mortgage for 221,564 with quarterly payments of 5,552 what is the total amount of interest you paid for your mortgageConsider a 30-year, traditional mortgage on a $220,000 property. With 30% down payment and a 3% APR. Mortgage payments are made monthly. What is the 216th payment? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67).Using a spreadsheet program, create an amortization schedule for a 30-year mortgage of $500,000 at an annual interest rate of 4.28%. (a) In which month does the amount of principal in a monthly payment first exceed the amount of interest? (b) How much interest is repaid for the term of the loan? (Round your answer to the nearest cent.)
- For a 30-year house mortgage of $75,000 at 4.6% interest, find the following. (Round your final answers to two decimal places.) (a) the amount of the first monthly payment that goes to repay the principal (b) the amount of the 121st month's payment (after 10 years) that goes toward payment of principal.Determine the monthly principal and interest payment for a 20-year mortgage when the amount financed is $255,000 and the annual percentage rate (APR) is 5.0%. Click here for table of Monthly Payments LOADING... The monthly principal and interest payment is $ Number of Years Rate % 10 15 20 25 30 4.0 $10.12451 $7.39688 $6.05980 $5.27837 $4.77415 4.5 $10.36384 $7.64993 $6.32649 $5.55832 $5.06685 5.0 $10.60555 $7.90794 $6.59956 $5.84590 $5.36822 5.5 $10.85263 $8.17083 $6.87887 $6.14087 $5.67789 6.0 $11.10205 $8.43857 $7.16431 $6.44301 $5.99551 6.5 $11.35480 $8.71107 $7.45573 $6.75207 $6.32068 7.0 $11.61085 $8.98828 $7.75299 $7.06779 $6.65302 7.5 $11.87018 $9.27012 $8.05593 $7.38991 $6.99215 8.0 $12.13276 $9.55652 $8.36440 $7.71816 $7.33765 8.5 $12.39857 $9.84740…Consider a $230,000 home mortgage in which the payment per month is $945.38 for a thirty-year period. 1. Find the total amount paid over the life of the loan. 2. Of the total paid, what % is paid towards the principal. 3. Of the total paid, what % is paid towards interest.