Jennifer Johnson296_Unit_4_DS Project redo

Jennifer Johnson296_Unit_4_DS Project redo - 6 7 Interest...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Unit 4 DS Unit 4 Distingueshed Scholar Project Shedule Computed W 1 2 3 4 Year Rate Beginning Amount Payment 1.00 6.0% 150,000.00 35,609.46 2.00 7.0% 123,390.54 36,428.36 3.00 8.0% 95,599.52 37,095.82 4.00 9.0% 66,151.66 37,605.16 5.00 10.0% 34,500.15 37,950.17 totals Fixed Rate Comparison space …. Here we will calculate and compare the total cost of a fixed r 1 2 3 4 Year Rate Beginning Amount Payment 1.00 7.5% 150,000.00 37,074.71 2.00 7.5% 124,175.29 37,074.71 3.00 7.5% 96,413.73 37,074.71 4.00 7.5% 66,570.05 37,074.71 5.00 7.5% 34,488.10 37,074.71 totals When you compar the total cost of the fixed rate mortgage with the adjustable rate mortgage yo
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
With an ARM 5
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 6 7 Interest Repayment of Principal Ending Balance 9,000.00 26,609.46 123,390.54 8,637.34 27,791.02 95,599.52 7,647.96 29,447.86 66,151.66 5,953.65 31,651.51 34,500.15 3,450.02 34,500.15 0.00 34,688.96 150,000.00 rate mortgage. 5 6 7 Interest Repayment of Principal Ending Balance 11,250.00 25,824.71 124,175.29 9,313.15 27,761.56 96,413.73 7,231.03 29,843.68 66,570.05 4,992.75 32,081.95 34,488.10 2,586.61 34,488.10 0.00 35,373.54 150,000.00 you can see that John will pay less interest on the adjustable mortage over the five year period. 7.50%...
View Full Document

This note was uploaded on 04/19/2011 for the course MT 217 taught by Professor Finance during the Spring '11 term at Kaplan University.

Page1 / 3

Jennifer Johnson296_Unit_4_DS Project redo - 6 7 Interest...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online