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Instructions Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.71% with a 20 year amortization mortgage. You will use the mortgage

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Instructions Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.71% with a 20 year amortization mortgage. You will use the mortgage amount from previous sections. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 1 Years and 5 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question $143.214 Amortization 20 Years P/Y C/Y Present Value of Loan (PV P1 Months P2 Months Number of Periods (N) ) Monthly Payment (PMT) BALANCE OWING (BAL) Mortgage Rate As % (1/Y) Value At End of Loan (FV) PRINCIPAL PAID (PRN) Section Value: 7 INTEREST PAID (INT) Submit Answers Section Value: 13 Instructions Please determine the amortization for the following two payment frequencies using the mortgage amount: $143.214. Submit Answers (HINT: Solve for N and adjust your mortgage payment from section 4.MAKE SURE YOUR PMT IS NEGATIVE.) Monthly PMT from Section 4 - 733.19 Mortgage Rate As % (I/Y) Present Value of Loan (PV Value At End of Loan (FV) 3.71 Question 1: Question 2: Payment Frequency 1 Accel. Weekly Formulas for coverting payment frequencies are in Chapter 7 of your textbook. Payment Frequency 2 Bi-Weekly P/Y c/Y -P/Y c/y Number of Periods (N) Number of Periods (N) Payment (PMT) Payment (PMT) Amortization in Years (2 Decimals) Amortization in Years (2 Decimals) Instructions Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.71% with a 20 year amortization mortgage. You will use the mortgage amount from previous sections. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 1 Years and 5 Months. Input all the TVM variables and answers into the fields below. Mortgage Amount From Previous Question $143.214 Amortization 20 Years P/Y C/Y Present Value of Loan (PV P1 Months P2 Months Number of Periods (N) ) Monthly Payment (PMT) BALANCE OWING (BAL) Mortgage Rate As % (1/Y) Value At End of Loan (FV) PRINCIPAL PAID (PRN) Section Value: 7 INTEREST PAID (INT) Submit Answers Section Value: 13 Instructions Please determine the amortization for the following two payment frequencies using the mortgage amount: $143.214. Submit Answers (HINT: Solve for N and adjust your mortgage payment from section 4.MAKE SURE YOUR PMT IS NEGATIVE.) Monthly PMT from Section 4 - 733.19 Mortgage Rate As % (I/Y) Present Value of Loan (PV Value At End of Loan (FV) 3.71 Question 1: Question 2: Payment Frequency 1 Accel. Weekly Formulas for coverting payment frequencies are in Chapter 7 of your textbook. Payment Frequency 2 Bi-Weekly P/Y c/Y -P/Y c/y Number of Periods (N) Number of Periods (N) Payment (PMT) Payment (PMT) Amortization in Years (2 Decimals) Amortization in Years (2 Decimals)

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