Can you provide ammortizarion schedule for question 1-5

Thank You

Loan Amortization Paying Off That Dream House When Jacqueline and Keith Sommers were "house hunting" five years ago, the mortgage rates were pretty high. The fixed rate on a 30-year mort- gage was 7.25%, while the 15-year fixed rate was at 6.25%. After walking through many homes, they finally reached a consensus and decided to buy a $300,000, two-story house in an up-and-coming suburban neighborhood in the Midwest. To avoid prepaid mortgage insurance (PMI), the couple had to borrow from family members and come up with a 20% down pay- ment and the additional required closing costs. Since Jacqueline and Keith had already accumulated significant credit card debt and were still paying off their college loans, they decided to opt for lower monthly payments by taking on a 30-year mortgage, despite its higher interest rate. Currently, due to worsening economic conditions, mortgage rates have come down significantly and a refinancing frenzy is underway. Jacqueline and Keith have seen 15-year fixed rates (with no closing costs) advertised at 2.75%, and 30-year rates at 3.75%. Jacqueline and Keith realize that enhancing is quite a hassle due to all the paperwork involved, but with fales being down to 30-year lows they don't want to let this opportunity pass them by. About two years ago, rates were down to similar levels, but ey procrastinated and missed the boat. This time, however, the couple ed their mortgage officer at the Uptown Bank and locked in the 2.75%, cat rate. Nothing was going to stop them from reducing the costs of paying off their dream house this time! Case 8 Paying Off Thar Dream House 34 Questions: nthly mortgage payment 1. What is Jacqueline and Keith's monthly mortgage Da prior to the refinancing? their dream home, how 2. During the first five years of owning their dream home much money has the couple paid towards the mortgage proportion of this has been applied towards interest iginal 15-year mortgage 3. Had the couple opted for the original 15-year mortos proposal (15 years, 6.25%), how much higher would their monthly payment have been? 4. Under the original 15-year, 6.25% mortgage option, how much total interest would have been paid over the life of the loan? How does this compare with the total interest that would be paid on the 30-year, 7.25% mortgage? 5. If the Sommers had chosen the original 15-year, 6.25% mort- gage proposal, how much tax shelter would they have lost (over the last five years) as compared to the 30-year, 7.25% mortgage? bon d stiri Wher York main firm inves acros 6. If the house is currently worth $355,000 and most lenders are willing to lend up to 90% of home value, how much excess equity can the Sommers cash out? Kinga its eq 7. Should Jacqueline and Keith cash out the excess equity that they have built up? Assume money market rates are 2.15%. world and c intere 8. If the Sommers had increased each payment by one-twell (since the beginning of the loan), what would their curren loan balance amount to? 9. Using the assumption in question 8. how many total > would it take for the Sommers to pay off the existing Demonstrate your answer with an amortization schedulc. to be Job about educa chanc for at full-ti up her the existing loan? 10. Should Jacqueline and Keith close the 2.75%, 15-yea gage? Explain your answer with suitable calculations. Joh -15%, 15-year mort- cation the ba