HW5_FI q4.pdf - Maturity Amount borrowed Rate Monthly rate Monthly payment Interest payment Principal repay 360.00 months 100,000.00 dollars 10 p.a

# HW5_FI q4.pdf - Maturity Amount borrowed Rate Monthly rate...

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Maturity 360.00 months Amount borrowed 100,000.00 dollars b) Mortgage balance at the end of month 360 = 0 Rate 10% p.a. c) Mortgage balance at the end of month 270 = 55,410 =877.5716*(((1+0.008333)^(360-270)-1)/(0.008333*(1+0.008333)^(360-270))) Monthly rate 0.8333% d) The scheduled principal at the end of month 270 = 412 =877.5716/(1+0.008333)^(360-269) Monthly payment 877.5716 Interest payment 833.333333 Principal repay 44.24 Month Balance Payment Interest Principal repay Ending balance Principal/Payment

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• Fall '18
• Dr.HuiyanQIU
• 10%, 0.8333%, 47 99,588 5.39%, 47 99,636 5.34%, 48 99,541 5.43%

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