Jordan_Jason_Mini Project 1(Revision)

Jordan_Jason_Mini Project 1(Revision) - $452,592.39...

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Jason Jordan Business Finance - 3311 Mini Project #1 - Mortgage Loan Analysis 1) First Payment Date: 11/1/2010 Principle $464,000 Years 15 APR 4% Purchase Parice: $580,000 Mortage Total: $464,000 Down Payment: $116,000 Monthly Payment: $3,432.15 *(My Calculations were off and the corrections are makered in red) 2) Payment Date Interest Principle 1 11/1/2010 $464,000 $3,432.15 $1,546.67 $1,885.49 $462,114.51 2 12/1/2010 $462,114.51 $3,432.15 $1,540.38 $1,891.77 $460,222.74 3 1/1/2011 $460,222.74 $3,432.15 $1,534.08 $1,898.08 $458,324.67 4 2/1/2011 $458,324.67 $3,432.15 $1,527.75 $1,904.40 $456,420.27 5 3/1/2011 $456,420.27 $3,432.15 $1,521.40 $1,910.75 $454,509.51 6 4/1/2011 $454,509.51 $3,432.15 $1,515.03 $1,917.12 $452,592.39 7 5/1/2011
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Unformatted text preview: $452,592.39 $3,432.15 $1,508.64 $1,923.51 $450,668.88 8 6/1/2011 $450,668.88 $3,432.15 $1,502.23 $1,929.92 $448,738.96 9 7/1/2011 $448,738.96 $3,432.15 $1,495.80 $1,936.36 $446,802.61 10 8/1/2011 $446,802.61 $3,432.15 $1,489.34 $1,942.81 $444,859.80 11 9/1/2011 $444,859.80 $3,432.15 $1,482.87 $1,949.29 $442,910.51 12 10/1/2011 $442,910.51 $3,432.15 $1,476.37 $1,955.78 $440,954.73 13 11/1/2011 $440,954.73 $3,432.15 $1,469.85 $1,962.30 $438,992.42 14 12/1/2011 $438,992.42 $3,432.15 $1,463.31 $1,968.84 $437,023.58 3) 2010 Tax Deduction = $3,087.05 Payment Number Beginning Balance Regular Payment Ending Principle Balance...
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This note was uploaded on 11/17/2011 for the course ECONOMICS 103 taught by Professor Tohmass during the Spring '11 term at University of Houston-Victoria.

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