Lilly, John - Chapter 6 Homework

# Lilly, John - Chapter 6 Homework - Business 402 Chapter 6...

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Unformatted text preview: Business 402 Chapter # 6 Homework Created By: John T. Lilly Last Modified: 3/31/2008 Description: Worksheets: Mortgage 1 Mortgage 2 Amortization 1 Amortization 2 Amortization 3 Lottery 1 A Lottery 1B Lottery 2 Honor Code: Acknowlegement of Honor Code: John Lilly Simple Mortgage Calculator Advance Mortgage Calculator 15 Year Amortization 30 Year Amortization 30 Year Amortization paid-off in 15 years Lottery Payments at end of month Lottery Payments at beginning of month Comparison of different winnings based on payment method On my honor, I have neither given nor received any unauthorized aid in completion of this assignment. I recognize that I am encouraged to help my classmates with questions or problems that they may have, and I am also able to seek help from classmates. But ultimately, I have created and completed this assignment on my own. This file is my own. I have not referred to used, or copied a file that has been given to me by anyone else, nor have I given a copy of my file to another student. Mortgage Calculator 1 Change any value in rows 4,5 & 6, and the Loan Payment Amount changes Automatically Initial principal \$100,000 Pmts per Year 12 Term (years) 30 Payment Type Interest Rate 6% Loan Payment Amount (\$599.55) Mortgage Calculator 2 Change any value in rows 4,5,6 & 7, and the Loan Payment Amount changes Automatically Initial principal \$100,000 Initial Interest 6% Increment \$10,000 Increment 0.25% Term (years) 30 Pmts per Year 12 Payment Type Table of Mortgage Payments Annual Interest Rate Loan Amount 6% 6.25% 6.50% 6.75% 7.00% 7.25% \$100,000 (\$599.55) (\$615.72) (\$632.07) (\$648.60) (\$665.30) (\$682.18) \$110,000 (\$659.51) (\$677.29) (\$695.27) (\$713.46) (\$731.83) (\$750.39) \$120,000 (\$719.46) (\$738.86) (\$758.48) (\$778.32) (\$798.36) (\$818.61) \$130,000 (\$779.42) (\$800.43) (\$821.69) (\$843.18) (\$864.89) (\$886.83) \$140,000 (\$839.37) (\$862.00) (\$884.90) (\$908.04) (\$931.42) (\$955.05) \$150,000 (\$899.33) (\$923.58) (\$948.10) (\$972.90) (\$997.95) (\$1,023.26) \$160,000 (\$959.28) (\$985.15) (\$1,011.31) (\$1,037.76) (\$1,064.48) (\$1,091.48) \$170,000 (\$1,019.24) (\$1,046.72) (\$1,074.52) (\$1,102.62) (\$1,131.01) (\$1,159.70) \$180,000 (\$1,079.19) (\$1,108.29) (\$1,137.72) (\$1,167.48) (\$1,197.54) (\$1,227.92) \$190,000 (\$1,139.15) (\$1,169.86) (\$1,200.93) (\$1,232.34) (\$1,264.07) (\$1,296.13) \$200,000 (\$1,199.10) (\$1,231.43) (\$1,264.14) (\$1,297.20) (\$1,330.60) (\$1,364.35) Amortization Schedule 1 Principal \$150,000 Length of loan (years) 15 Annual Interest 7.5% Loan Payment Amount (\$1,390.52) Pmts per Year 12 Payment Type Totals \$100,293.34 \$150,000.00 Toward Interest Balance \$150,000 1 \$937.50 \$453.02 \$149,546.98 2 \$934.67 \$455.85 \$149,091.13 3 \$931.82 \$458.70 \$148,632.43 4 \$928.95 \$461.57 \$148,170.87 5 \$926.07 \$464.45 \$147,706.42 6 \$923.17 \$467.35 \$147,239.06 7 \$920.24 \$470.27 \$146,768.79 8 \$917.30 \$473.21 \$146,295.57 9 \$914.35 \$476.17 \$145,819.40 10 \$911.37 \$479.15 \$145,340.26 11 \$908.38 \$482.14 \$144,858.11 12 \$905.36 \$485.16 \$144,372.96 13 \$902.33 \$488.19 \$143,884.77 \$143,884....
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## This document was uploaded on 11/04/2011 for the course BUSI 402 at UNC.

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Lilly, John - Chapter 6 Homework - Business 402 Chapter 6...

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