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#8 the answer R=766.50, Balance after payments 3,180, and 359 are ----> #3=$119,678.74, #180=$87,392.71, #359=$639.57, and payment #360=$643.09 I need the work that shows the
#8 the answer R=766.50, Balance after payments 3,180, and 359 are ----> #3=$119,678.74, #180=$87,392.71, #359=$639.57, and payment #360=$643.09
I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you
8. A 30-year home loan of $120,000 is obtained at a rate of 6.6% compounded monthly. If the payments are made at the end of each month, determine the size of the monthly payment rounded up to the nearest half-dollar and construct the amortization table for the 1st, 2nd, 3rd , 180ch and 360th payments. 9. A 20-year home loan of $85,000 is obtained at a rate of 9% compounded monthly. If the payments are made at the end of each month, determine the size of the monthly payment rounded up to the nearest dime and construct the amortization table for the first six months and the last six months. ( (payment: $764.80, concluding payment: $742.80) 8. A 30-year home loan of $120,000 is obtained at a rate of 6.6% compounded monthly. If the payments are made at the end of each month, determine the size of the monthly payment rounded up to the nearest half-dollar and construct the amortization table for the 1st, 2nd, 3rd , 180ch and 360th payments. 9. A 20-year home loan of $85,000 is obtained at a rate of 9% compounded monthly. If the payments are made at the end of each month, determine the size of the monthly payment rounded up to the nearest dime and construct the amortization table for the first six months and the last six months. ( (payment: $764.80, concluding payment: $742.80)Step by Step Solution
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