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

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