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I added the answer from section 4. Please help, I am stuck Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20
I added the answer from section 4. Please help, I am stuck
Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.75%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. Amortization Mortgage Amount From Previous Question $392055.04 20 Years .P/Y - C/Y Present Value of Loan (PV P1 Months P2 Months 12 2 392055.04 24 7 TO Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) 240 2324.45 356330.75 Mortgage Rate As % (1/Y) Value At End of Loan (FV) PRINCIPAL PAID (PRN) R 3.75 0 1207.14 Section Value: 7 INTEREST PAID (INT) Submit Answers 1117.31 Mortgage Calculations Section Value: 13 Instructions Please determine the amortization for the following two payment frequencies using the mortgage amount: $392055.04. Submit Answers Monthly PMT from Section 4 (HINT: Solve for N and adjust your mortgage payment from section 4.MAKE SURE YOUR PMT IS NEGATIVE.) 2324.45 Value At End of Loan (FV) Mortgage Rate As % (1/Y) Present Value of Loan (PV 3.75 392055.04 Question 1: Question 2: Payment Frequency 1 Formulas for coverting payment frequencies are in Chapter 7 of your textbook. Payment Frequency 2 Accel. Bi-Weekly Weekly P/Y C/Y P/Y C/Y 52 2 26 2 Number of Periods (N) Number of Periods (N) Payment (PMT) Payment (PMT) Amortization in Years (2 Decimals Amortization in Years (2 Decimals Section 4 - Mortgage Calculation Instructions You Have Decided to use a 20 year Amortization for your Mortgage. Use this information to find the MONTHLY mortgage PAYMENT using the mortgage amount from previous section and a rate of 3.75%. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. Amortization Mortgage Amount From Previous Question $392055.04 20 Years .P/Y - C/Y Present Value of Loan (PV P1 Months P2 Months 12 2 392055.04 24 7 TO Number of Periods (N) Monthly Payment (PMT) BALANCE OWING (BAL) 240 2324.45 356330.75 Mortgage Rate As % (1/Y) Value At End of Loan (FV) PRINCIPAL PAID (PRN) R 3.75 0 1207.14 Section Value: 7 INTEREST PAID (INT) Submit Answers 1117.31 Mortgage Calculations Section Value: 13 Instructions Please determine the amortization for the following two payment frequencies using the mortgage amount: $392055.04. Submit Answers Monthly PMT from Section 4 (HINT: Solve for N and adjust your mortgage payment from section 4.MAKE SURE YOUR PMT IS NEGATIVE.) 2324.45 Value At End of Loan (FV) Mortgage Rate As % (1/Y) Present Value of Loan (PV 3.75 392055.04 Question 1: Question 2: Payment Frequency 1 Formulas for coverting payment frequencies are in Chapter 7 of your textbook. Payment Frequency 2 Accel. Bi-Weekly Weekly P/Y C/Y P/Y C/Y 52 2 26 2 Number of Periods (N) Number of Periods (N) Payment (PMT) Payment (PMT) Amortization in Years (2 Decimals Amortization in Years (2 DecimalsStep by Step Solution
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