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chap6_ho4_amortization_solution

chap6_ho4_amortization_solution - A 1 2 3 4 5 6 7 8 9 10 11...

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Amortization Schedule Enter Loan Parameters as Indicated Loan Summary Information Principal $400,000 Monthly Payment $2,462.87 Annual Interest 6.25% Scheduled Payments 360 Date of First Payment 2/1/2008 TRUE Normal Payoff Date 1/1/2038 Term of Loan (years) 30 Actual Number of Payments 294 Extra Payment Every Period $200 Actual Payoff Date 7/1/2032 Your Last Name Pry, John Total of Extra Payments $58,800.00 Purpose of Loan Mortgage Total of All Interest Payments $381,683.75 Date Interest Principal Extra Payment 1 2/1/2008 $400,000 $2,462.87 $2,083.33 $379.54 200 $399,420.46 2 3/1/2008 $399,420.46 $2,462.87 $2,080.31 $382.55 200 $398,837.91 3 4/1/2008 $398,837.91 $2,462.87 $2,077.28 $385.59 200 $398,252.32 4 5/1/2008 $398,252.32 $2,462.87 $2,074.23 $388.64 200 $397,663.68 5 6/1/2008 $397,663.68 $2,462.87 $2,071.17 $391.70 200 $397,071.98 6 7/1/2008 $397,071.98 $2,462.87 $2,068.08 $394.79 200 $396,477.20 7 8/1/2008 $396,477.20 $2,462.87 $2,064.99 $397.88 200 $395,879.31 8 9/1/2008 $395,879.31 $2,462.87 $2,061.87 $401.00 200 $395,278.31 9 10/1/2008 $395,278.31 $2,462.87 $2,058.74 $404.13 200 $394,674.19 10 11/1/2008 $394,674.19 $2,462.87 $2,055.59 $407.27 200 $394,066.91 11 12/1/2008 $394,066.91 $2,462.87 $2,052.43 $410.44 200 $393,456.48 12 1/1/2009 $393,456.48 $2,462.87 $2,049.25 $413.62 200 $392,842.86 13 2/1/2009 $392,842.86 $2,462.87 $2,046.06 $416.81 200 $392,226.05 14 3/1/2009 $392,226.05 $2,462.87 $2,042.84 $420.02 200 $391,606.02 15 4/1/2009 $391,606.02 $2,462.87 $2,039.61 $423.25 200 $390,982.77 16 5/1/2009 $390,982.77 $2,462.87 $2,036.37 $426.50 200 $390,356.27 17 6/1/2009 $390,356.27 $2,462.87 $2,033.11 $429.76 200 $389,726.50 18 7/1/2009 $389,726.50 $2,462.87 $2,029.83 $433.04 200 $389,093.46 19 8/1/2009 $389,093.46 $2,462.87 $2,026.53 $436.34 200 $388,457.12 20 9/1/2009 $388,457.12 $2,462.87 $2,023.21 $439.65 200 $387,817.47 21 10/1/2009 $387,817.47 $2,462.87 $2,019.88 $442.99 200 $387,174.48 22 11/1/2009 $387,174.48 $2,462.87 $2,016.53 $446.34 200 $386,528.15 23 12/1/2009 $386,528.15 $2,462.87 $2,013.17 $449.70 200 $385,878.44 24 1/1/2010 $385,878.44 $2,462.87 $2,009.78 $453.09 200 $385,225.36 25 2/1/2010 $385,225.36 $2,462.87 $2,006.38 $456.49 200 $384,568.87 26 3/1/2010 $384,568.87 $2,462.87 $2,002.96 $459.91 200 $383,908.97 27 4/1/2010 $383,908.97 $2,462.87 $1,999.53 $463.34 200 $383,245.62 28 5/1/2010 $383,245.62 $2,462.87 $1,996.07 $466.80 200 $382,578.83 29 6/1/2010 $382,578.83 $2,462.87 $1,992.60 $470.27 200 $381,908.55 30 7/1/2010 $381,908.55 $2,462.87 $1,989.11 $473.76 200 $381,234.79 31 8/1/2010 $381,234.79 $2,462.87 $1,985.60 $477.27 200 $380,557.52 32 9/1/2010 $380,557.52 $2,462.87 $1,982.07 $480.80 200 $379,876.72 33 10/1/2010 $379,876.72 $2,462.87 $1,978.52 $484.34 200 $379,192.38 34 11/1/2010 $379,192.38 $2,462.87 $1,974.96 $487.91 200 $378,504.47 35 12/1/2010 $378,504.47 $2,462.87 $1,971.38 $491.49 200 $377,812.98 36 1/1/2011 $377,812.98 $2,462.87 $1,967.78 $495.09 200 $377,117.89 37 2/1/2011 $377,117.89 $2,462.87 $1,964.16 $498.71 200 $376,419.17 38 3/1/2011 $376,419.17 $2,462.87 $1,960.52 $502.35 200 $375,716.82 39 4/1/2011 $375,716.82 $2,462.87 $1,956.86 $506.01 200 $375,010.81 40 5/1/2011 $375,010.81 $2,462.87 $1,953.18 $509.69 200 $374,301.12 41 6/1/2011 $374,301.12 $2,462.87 $1,949.49 $513.38 200 $373,587.74 42 7/1/2011 $373,587.74 $2,462.87 $1,945.77 $517.10 200 $372,870.64 43 8/1/2011 $372,870.64 $2,462.87 $1,942.03 $520.83 200 $372,149.81 44 9/1/2011 $372,149.81 $2,462.87 $1,938.28 $524.59 200 $371,425.22 45 10/1/2011 $371,425.22 $2,462.87 $1,934.51 $528.36 200 $370,696.86 46 11/1/2011 $370,696.86 $2,462.87 $1,930.71 $532.16 200 $369,964.70 47 12/1/2011 $369,964.70 $2,462.87 $1,926.90 $535.97 200 $369,228.73 48 1/1/2012 $369,228.73 $2,462.87 $1,923.07 $539.80 200 $368,488.93 49 2/1/2012 $368,488.93 $2,462.87 $1,919.21 $543.66 200 $367,745.27 50 3/1/2012 $367,745.27 $2,462.87 $1,915.34 $547.53 200 $366,997.74 Payment Number Beginning Balance Regular Payment Ending Balance A B C D E F G H 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62
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51 4/1/2012 $366,997.74 $2,462.87 $1,911.45 $551.42 200 $366,246.32 52 5/1/2012 $366,246.32 $2,462.87 $1,907.53 $555.34 200 $365,490.98 53 6/1/2012 $365,490.98 $2,462.87 $1,903.60 $559.27 200 $364,731.71 54 7/1/2012 $364,731.71 $2,462.87 $1,899.64 $563.22 200 $363,968.49 55 8/1/2012 $363,968.49 $2,462.87 $1,895.67 $567.20 200 $363,201.29 56 9/1/2012 $363,201.29 $2,462.87
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