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round to four decimals please. Consider a mortgage in the amount of $168,000 with a 15 year amortization and a 7 year term. Assume interest
round to four decimals please.
Consider a mortgage in the amount of $168,000 with a 15 year amortization and a 7 year term. Assume interest rates are i(12) = 6.6%. (a) Find the regular monthly payment assuming these payments are rounded up to the nearest dollar. Number (b) Find the final monthly payment amount (rounded to the nearest cent) on the last day of the amortization period (assuming rates don't change over the amortization period) Number (c) What are the values in the 24th row of the mortgage amortization schedule (round to the nearest penny)? (1) Opening Balance : Number (ii) Interest : Number (iii) Payment : Number (iv) Closing Balance : Number (d) At the end of the mortgage term, assume that rates have increased to i(12) = 8.9%.Find the new monthly payment rounded up the the nearest dollar. Number Consider a mortgage in the amount of $168,000 with a 15 year amortization and a 7 year term. Assume interest rates are i(12) = 6.6%. (a) Find the regular monthly payment assuming these payments are rounded up to the nearest dollar. Number (b) Find the final monthly payment amount (rounded to the nearest cent) on the last day of the amortization period (assuming rates don't change over the amortization period) Number (c) What are the values in the 24th row of the mortgage amortization schedule (round to the nearest penny)? (1) Opening Balance : Number (ii) Interest : Number (iii) Payment : Number (iv) Closing Balance : Number (d) At the end of the mortgage term, assume that rates have increased to i(12) = 8.9%.Find the new monthly payment rounded up the the nearest dollar. NumberStep by Step Solution
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