How much interest will you pay in the 12th year of a $85,000, 5.5%, 25 year mortgage, assuming monthly compounding? P/YR = 12

Get PMT first.

P/YR = 12

PV=-85,000, I/YR=5.5, N=25*12=300, PMT = ?

133 INPUT (144-12*1+1=133; 12*11=132 marks the end of 11th year, 133 marks the first payment of 12th year).

144 AMORT (12*12)

a. 3,062.219

b. 3,198.201

c. 3,014.225

d. 3,284.047

How much will you pay into principal on a , $125,000, 25 year mortgage in the final 2 years of the mortgage, assuming monthly compounding?

Get PMT first.

P/YR = 12

PV=-125,000, I/YR=7.375, N=25*12=300, PMT = ?

277 INPUT (300-2*12+1)

300 AMORT (25*12=300)

a. 21,221.951

b. 20,328.063

c. 23,516.012

d. 13,185.654

Compute the balance, at 10 1/4 years, on a $145,000, 8.75%, 30 year mortgage, assuming monthly compounding.

Get PMT first.

P/YR = 12

PV=-145,000, I/YR=8.75, N=30*12=360, PMT = 1,140.716

1 INPUT (you can enter anything except zero for input)

123 AMORT (10.25*12)

a. 123,852.333

b. 125,521.257

c. 126,528.559

d. 128,479.625