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Type of Mortgage FRM Term 30 Years Loan Amount 200,000 ROI

Customer Question
Type of Mortgage FRM Term 30...
Type of Mortgage FRM
Term 30 Years
Loan Amount 200,000
ROI 12%

1 The 30th payment would be
2 the Mortgage balance remaining after the 30th payment would be
3 the Amount interest expense in the 30th payment would be
4 The principal paid in the 30th payment would be
5 the interest paid up to the 30th payment is
6 the principal repaid ut to the 30th payment is
7 the Mortgage balance remaining after the 120th is
8 the Amount interest expense in the 23th payment would be
9 The balance repaid during the 23rd
10 total interest paid during entire life of the loan
11 If the discount percent is 3. the effective rate of interest of the loan would be
Submitted: 6 years ago.Category: Homework
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Answered in 3 minutes by:
10/30/2011
Tutor: Linda_us, Finance, Accounts & Homework Tutor replied 6 years ago
Linda_us
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I have answered this question in your other post.

Regards

Linda
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Customer reply replied 6 years ago

 

no

Customer reply replied 6 years ago

 

Ok what did you need

Tutor: Linda_us, Finance, Accounts & Homework Tutor replied 6 years ago
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Customer reply replied 6 years ago

 

 

Linda

 

Those are not the correct answer. I did that before that so I asking for help because according to the test taking before are not the correct answer

Customer reply replied 6 years ago

 

 

Linda

 

Those are not the correct answer. I did that before that so I asking for help because according to the test taking before are not the correct answer . I do think that the problem is that it is saying that ROI 12%

Tutor: Linda_us, Finance, Accounts & Homework Tutor replied 6 years ago
Dear JACUSTOMER

As per the information the solution provided should be correct. I see nothing wrong in the solution. If any other information is other please let me know I will solve it again for you.

Regards

Linda

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Tutor: Linda_us, Finance, Accounts & Homework Tutor replied 6 years ago
Also is any subpart incorrect or all the part are incorrect.

In part 8 and 9 is it 123 or 23.

Also is there any instruction as to rounding (two decimal, whole number)

Regards

Linda
Ask Your Own Homework Question
Customer reply replied 6 years ago
This spreadsheet creates a payment schedule for a fixed-rate loan, with optional extra payments. The payment frequency can be annual, semi-annual, quarterly, bi-monthly, or monthly. Values are rounded to the nearest cent. The last payment is adjusted to bring the balance to zero.

Note: You must have the Analysis ToolPak (Tools > Add-ins...) installed to use the CUMIPMT formula.
Inputs
Loan Amount $ 200,000
Annual Interest Rate12.00%
Term of Loan in Years30
First Payment Date5/1/2005
Frequency of PaymentQuarterly
Summary
Rate (per period)3.000%
Payment (per period)$6,177.98
Total Payments$741,361.08
Total Interest$541,361.08
Interest Savings#NAME?
No.Due DatePayment DueAdditional PaymentInterestPrincipalBalance
$200,000.00
15/1/20056,177.980.006,000.00177.98199,822.02
28/1/20056,177.980.005,994.66183.32199,638.70
311/1/20056,177.980.005,989.16188.82199,449.88
42/1/20066,177.980.005,983.50194.48199,255.40
55/1/20066,177.980.005,977.66200.32199,055.08
68/1/20066,177.980.005,971.65206.33198,848.75
711/1/20066,177.980.005,965.46212.52198,636.23
82/1/20076,177.980.005,959.09218.89198,417.34
95/1/20076,177.980.005,952.52225.46198,191.88
108/1/20076,177.980.005,945.76232.22197,959.66
1111/1/20076,177.980.005,938.79239.19197,720.47
122/1/20086,177.980.005,931.61246.37197,474.10
135/1/20086,177.980.005,924.22253.76197,220.34
148/1/20086,177.980.005,916.61261.37196,958.97
1511/1/20086,177.980.005,908.77269.21196,689.76
162/1/20096,177.980.005,900.69277.29196,412.47
175/1/20096,177.980.005,892.37285.61196,126.86
188/1/20096,177.980.005,883.81294.17195,832.69
1911/1/20096,177.980.005,874.98303.00195,529.69
202/1/20106,177.980.005,865.89312.09195,217.60
215/1/20106,177.980.005,856.53321.45194,896.15
228/1/20106,177.980.005,846.88331.10194,565.05
2311/1/20106,177.980.005,836.95341.03194,224.02
242/1/20116,177.980.005,826.72351.26193,872.76
255/1/20116,177.980.005,816.18361.80193,510.96
268/1/20116,177.980.005,805.33372.65193,138.31
2711/1/20116,177.980.005,794.15383.83192,754.48
282/1/20126,177.980.005,782.63395.35192,359.13
295/1/20126,177.980.005,770.77407.21191,951.92
308/1/20126,177.980.005,758.56419.42191,532.50
3111/1/20126,177.980.005,745.98432.00191,100.50
322/1/20136,177.980.005,733.02444.96190,655.54
335/1/20136,177.980.005,719.67458.31190,197.23
348/1/20136,177.980.005,705.92472.06189,725.17
3511/1/20136,177.980.005,691.76486.22189,238.95
362/1/20146,177.980.005,677.17500.81188,738.14
375/1/20146,177.980.005,662.14515.84188,222.30
388/1/20146,177.980.005,646.67531.31187,690.99
3911/1/20146,177.980.005,630.73547.25187,143.74
402/1/20156,177.980.005,614.31563.67186,580.07
415/1/20156,177.980.005,597.40580.58185,999.49
428/1/20156,177.980.005,579.98598.00185,401.49
4311/1/20156,177.980.005,562.04615.94184,785.55
442/1/20166,177.980.005,543.57634.41184,151.14
455/1/20166,177.980.005,524.53653.45183,497.69
468/1/20166,177.980.005,504.93673.05182,824.64
4711/1/20166,177.980.005,484.74693.24182,131.40
482/1/20176,177.980.005,463.94714.04181,417.36
495/1/20176,177.980.005,442.52735.46180,681.90
508/1/20176,177.980.005,420.46757.52179,924.38
5111/1/20176,177.980.005,397.73780.25179,144.13
522/1/20186,177.980.005,374.32803.66178,340.47
535/1/20186,177.980.005,350.21827.77177,512.70
548/1/20186,177.980.005,325.38852.60176,660.10
5511/1/20186,177.980.005,299.80878.18175,781.92
562/1/20196,177.980.005,273.46904.52174,877.40
575/1/20196,177.980.005,246.32931.66173,945.74
588/1/20196,177.980.005,218.37959.61172,986.13
5911/1/20196,177.980.005,189.58988.40171,997.73
602/1/20206,177.980.005,159.931,018.05170,979.68
615/1/20206,177.980.005,129.391,048.59169,931.09
628/1/20206,177.980.005,097.931,080.05168,851.04
6311/1/20206,177.980.005,065.531,112.45167,738.59
642/1/20216,177.980.005,032.161,145.82166,592.77
655/1/20216,177.980.004,997.781,180.20165,412.57
668/1/20216,177.980.004,962.381,215.60164,196.97
6711/1/20216,177.980.004,925.911,252.07162,944.90
682/1/20226,177.980.004,888.351,289.63161,655.27
695/1/20226,177.980.004,849.661,328.32160,326.95
708/1/20226,177.980.004,809.811,368.17158,958.78
7111/1/20226,177.980.004,768.761,409.22157,549.56
722/1/20236,177.980.004,726.491,451.49156,098.07
735/1/20236,177.980.004,682.941,495.04154,603.03
748/1/20236,177.980.004,638.091,539.89153,063.14
7511/1/20236,177.980.004,591.891,586.09151,477.05
762/1/20246,177.980.004,544.311,633.67149,843.38
775/1/20246,177.980.004,495.301,682.68148,160.70
788/1/20246,177.980.004,444.821,733.16146,427.54
7911/1/20246,177.980.004,392.831,785.15144,642.39
802/1/20256,177.980.004,339.271,838.71142,803.68
815/1/20256,177.980.004,284.111,893.87140,909.81
828/1/20256,177.980.004,227.291,950.69138,959.12
8311/1/20256,177.980.004,168.772,009.21136,949.91
842/1/20266,177.980.004,108.502,069.48134,880.43
855/1/20266,177.980.004,046.412,131.57132,748.86
868/1/20266,177.980.003,982.472,195.51130,553.35
8711/1/20266,177.980.003,916.602,261.38128,291.97
882/1/20276,177.980.003,848.762,329.22125,962.75
895/1/20276,177.980.003,778.882,399.10123,563.65
908/1/20276,177.980.003,706.912,471.07121,092.58
9111/1/20276,177.980.003,632.782,545.20118,547.38
922/1/20286,177.980.003,556.422,621.56115,925.82
935/1/20286,177.980.003,477.772,700.21113,225.61
948/1/20286,177.980.003,396.772,781.21110,444.40
9511/1/20286,177.980.003,313.332,864.65107,579.75
962/1/20296,177.980.003,227.392,950.59104,629.16
975/1/20296,177.980.003,138.873,039.11101,590.05
988/1/20296,177.980.003,047.703,130.2898,459.77
9911/1/20296,177.980.002,953.793,224.1995,235.58
1002/1/20306,177.980.002,857.073,320.9191,914.67
1015/1/20306,177.980.002,757.443,420.5488,494.13
1028/1/20306,177.980.002,654.823,523.1684,970.97
10311/1/20306,177.980.002,549.133,628.8581,342.12
1042/1/20316,177.980.002,440.263,737.7277,604.40
1055/1/20316,177.980.002,328.133,849.8573,754.55
1068/1/20316,177.980.002,212.643,965.3469,789.21
10711/1/20316,177.980.002,093.684,084.3065,704.91
1082/1/20326,177.980.001,971.154,206.8361,498.08
1095/1/20326,177.980.001,844.944,333.0457,165.04
1108/1/20326,177.980.001,714.954,463.0352,702.01
11111/1/20326,177.980.001,581.064,596.9248,105.09
1122/1/20336,177.980.001,443.154,734.8343,370.26
1135/1/20336,177.980.001,301.114,876.8738,493.39
1148/1/20336,177.980.001,154.805,023.1833,470.21
11511/1/20336,177.980.001,004.115,173.8728,296.34
1162/1/20346,177.980.00848.895,329.0922,967.25
1175/1/20346,177.980.00689.025,488.9617,478.29
1188/1/20346,177.980.00524.355,653.6311,824.66
11911/1/20346,177.980.00354.745,823.246,001.42
1202/1/20356,181.460.00180.046,001.420.00
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nd

Tutor: Linda_us, Finance, Accounts & Homework Tutor replied 6 years ago
The issue was that question assumed as if quarterly payment was made and this information was missing initially. If you see in my other post I have specifically asked that I am assuming monthly payment as mostly FRM loan are based on monthly payment. Let me if you can want me to create the spreadsheet again with quarterly payments.

Regards

Linda
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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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