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Apply the United States rule to determine the balance at maturity and the total interest paid if the borrower makes two partial payments and the
Apply the United States rule to determine the balance at maturity and the total interest paid if the borrower makes two partial payments and the remainder of the loan is paid at maturity. Interest Rate % Partial Payment Principal $11,500 Loan Length (Days) 290 Payment on Day # 116 203 18.0 $6555.00 $2472.50 Real Estate Amortization Table (Principal and Interest per Thousand Dollars Borrowed) Terms Terms in Years 4% 4% 5% 6% 7% 72% 8% in Years 10 10.12 10.36 10.61 10.85 11.10 11.35 11.62 11.88 12.14 10 15 7.40 7.65 7.91 8.17 8.44 8.71 8.99 9.28 9.56 15 20 6.06 6.33 6.60 6.88 7.16 7.46 7.76 8.06 8.37 20 5.28 5.56 5.85 6.14 6.44 6.75 7.07 7.39 7.72 25 4.77 5.07 5.37 5.68 6.00 6.32 6.65 7.00 7.34 30 25 30 Complete the table below. Amount of Loan $94,000 Interest Term of Annual Annual Monthly Rate Loan Taxes Insurance Payment 7% 10 years $1250 $560 (Simplify your answer. Round to the nearest cent as needed.) June and Bill Able borrow $122,400 at 7% for 25 years. Prepare a repayment schedule for the first 2 two payments. Click the icon to view the real estate amortization table. Complete the following table. Repayment Schedule Payment Interest Total Payment Principal Number Payment Payment Balance of Principal 0 1 $ $ $ $ 2 (Round to the nearest cent as needed.)
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