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No matter how I try to complete this, I keep coming up with the same answer. The workbook says it is incorrect. Please help so
No matter how I try to complete this, I keep coming up with the same answer. The workbook says it is incorrect. Please help so I can learn where I am making the mistake. Thank you!
Bob Jones bought a new log cabin for $76,000 at 11% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1) Do not round intermediate calculations. Round your final answers to the nearest cent.
Chapter 15 End of Chapter Assignment i Saved Help Save & Exit Submit Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 6 Bob Jones bought a new log cabin for $61,000 at 10.5% interest for 30 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) 0.76 points Answer is complete but not entirely correct. Payment Number 1 $ Portion to Balance of loan Interest Principal outstanding 533.75$ 24.24 X $ 60.975.76 X 533.54 $ 24.45 X $ 60,951.31 533.32$ 24.67 X $ 60.926.64 X 2 $ 3 $ TABLE 15-1 Amortization table (mortgage principal and interest per $1,000 INTEREST Term In years 31% 5% 5% 6% 6.1% 7% 72% 8% 81% 9% 10% 101% 11% 10 11.36 11.62 12.40 13.22 13.78 9.89 8.52 10.61 9.25 10.86 9.51 11.11 9.76 1.88 *0.56 12.14 10.83 12.67 11.39 12.94 11.67 13.50 12.25 12 10.02 10.29 11.11 11.96 12.54 15 7.91 8.44 8.72 8.99 10.15 10.45 11.06 11.37 7.15 6.52 9.28 8.69 8.18 7.56 6.88 9.56 8.99 9.85 9.29 10.75 10.22 17 7.29 7.84 8.12 8.40 9.59 9.90 10.54 10.86 20 5.80 6.60 7.17 7.46 7.76 8.06 8.37 8.68 9.00 9.33 9.66 9.99 22 6.20 6.51 6.82 8.07 8.39 8.72 9.39 9.73 5.44 5.01 7.13 6.76 7.44 7.07 7.75 7.39 9.05 8.74 10.33 10.08 9.81 25 5.85 6.15 6.45 7.72 8.06 8.40 9.09 9.45 30 4.50 5.37 5.68 6.00 6.33 6.66 7.00 7.69 8.05 8.41 8.78 9.15 9.53 7.34 7.11 35 3.99 5.05 5.38 5.71 6.05 6.39 6.75 7.47 7.84 8.22 8.60 8.99 9.37Step by Step Solution
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