Question
For amortization problems, INPUT = AMORT -numbers of periods +1 1. How much interest will you pay in the 12th year of a $85,000, 5.5%,
For amortization problems, INPUT = AMORT -numbers of periods +1
1.How much interest will you pay in the 12th year of a $85,000, 5.5%, 25 year mortgage, assuming annual compounding? P/YR = 1
Get PMT first.
P/YR = 1
PV=-85,000, I/YR=5.5, N=1*25=25, PMT =?
Then, 12 INPUT , 12 AMORT
a. 3,059.287
b. 3,342.167
c. 3,5841.369
d. 3,8742.382
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
