Question
Malia plans to purchase a condominium. To supplement to her down-payment, she needs to borrow $150,000. She is able secure a thirty-year mortgage at 4.8%.
Malia plans to purchase a condominium. To supplement to her down-payment, she needs to borrow $150,000. She is able secure a thirty-year mortgage at 4.8%.
Complete the Basic TVM Table Below for Malia's mortgage (enter rates as percents with the % symbol afterwards, e.g one and one-half percent: 1.5%):
C/Y | n | i | P | PMT | FV |
1 | |||||
blank | blank | blank |
What is her monthly payment? (round to two decimal places - number only - no "$" - no commas)
Complete the first two lines of the amortization table for her mortgage annuity (round to two decimal places - numbers only - no "$" - no commas):
n | Principal Outstanding | INTEREST | Excess PMT |
1 | |||
2 |
Suppose Malia received this mortgage on November 1. By the end of the calendar year, how much total interest would Malia pay on this mortgage? __INT2mo__ (round to two decimal places - numbers only - no "$" commas).
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