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A B C D E F 1 Frequency : Monthly 2 Loan Amount: 150000.00 3 Interest Rate: 7.25% 4 Term(years): 30.00 5 No. of payments
A | B | C | D | E | F | |
1 | Frequency : | Monthly | ||||
2 | Loan Amount: | 150000.00 | ||||
3 | Interest Rate: | 7.25% | ||||
4 | Term(years): | 30.00 | ||||
5 | No. of payments in a year: | 12 | time(s) | |||
6 | Periodic Rate: | 0.60% | =C3/C5 | |||
7 | Total number of payment: | 360 | =C4*C5 | |||
8 | Periodic payment: | 1023.26 | =-PMT(C6,C7,C2) | |||
12 | Payment period | Opening Principal | Installment | principal Payment | Interest Payment | Closing principal |
13 | 0 | - | - | - | - | 150000.00 |
14 | 1 | 150000.00 | 1023.26 | 117.01 | 906.25 | 149882.99 |
15 | 2 | 149882.99 | 1023.26 | 117.72 | 905.54 | 149765.26 |
16 | 3 | 149765.26 | 1023.26 | 118.43 | 904.83 | 149646.83 |
Using the data above please answer question 2
following "Servicing 2. a. Suppose that the servicing fee for a mortgage loan is 0.5%. Complete the f schedule for the mortgage loan in the previous question. The column labeled " Fee" is the dollar amount of the servicing fee for the month. The column labeled "Ne Interest" is the monthly interest after the servicing fee for the month. Month Mortgage Servicing fee Beginning payment mortgage Net interest Sch. Prin repayment End of month balance 1 123 2 3 4 5 6 6. Determine for the first six months the cash flow for an investor who purchases this mortgage loan after the servicing fee is paid.
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