Homework Help is Here – Start Your Trial Now!
Business
Accounting
Bob Jones bought a new log cabin for $80,000 at 6.50% interest for 15 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1) Note: Round your intermediate calculations and final answer to the nearest cent Payment Number 1 2 3 Portion to- Interest Principal Balance of loan outstanding

Bob Jones bought a new log cabin for $80,000 at 6.50% interest for 15 years. Prepare an amortization schedule for the first three periods. (Use Table 15.1) Note: Round your intermediate calculations and final answer to the nearest cent Payment Number 1 2 3 Portion to- Interest Principal Balance of loan outstanding

Personal Finance
Personal Finance
13th Edition
ISBN:9781337669214
Author:GARMAN
Publisher:GARMAN
Chapter9: Obtaining Affordable Housing
Section: Chapter Questions
Problem 5DTM
See similar textbooks
icon
Related questions
Question
Apps 4.750 4.875 5.000 3.875 4.000 4.125 4.250 4.375 4.500 4.625 4.750 4.875 5.000 5.125 5.250 5.375 5.500 5.625 5.750 5.875 6.000 6.125 6.250 0.39583 0.40625 0.41667 6.375 6.500 6.625 6.750 6.875 7.000 7.125 7.250 7.375 7.500 SEAC LA Show Transcribed Text Chrome OS Featu... 0.32292 0.33333 0.34375 0.35417 0.36458 0.37500 0.38542 0.39583 0.40625 0.41667 0.42708 0.43750 0.44792 0.45833 0.46875 0.47917 0.48958 0.50000 0.51042 0.52083 0.53125 0.54167 0.55208 0.56250 0.57292 10.48477 10.54556 10.60655 0.58333 0.59375 0.60417 0.61458 10.06250 473213 10.06521 10.12451 11.35480 11.41850 7.77832 7,84297 200201 11.48241 11.54653 11.61085 11.67537 11.74010 11.80504 11.87017 7.33440 5.99414 5.20959 7.39688 6.05980 5.27837 10.18403 7.45968 6.12587 5.34763 10.24375 7.52278 6.19234 5.41738 10.30369 7.58620 6.25922 5.48761 10.36384 7.64993 6.32649 5.55832 10.42420 7.71397 6.39417 5.62951 10.48477 7.77832 6.46224 5.70117 10.54556 7.84297 6.53070 5.77330 10.60655 7.90794 6.59956 5.84590 10.66776 7.97320 6.66881 5.91896 10.72917 8.03878 6.73844 5.99248 10.79079 8.10465 6.80847 6.06645 10.85263 8.17083 6.87887 6.14087 10.91467 8.23732 6.94966 6.21575 5.75656 10.97692 8.30410 7.02084 6.29106 5.83573 11.03938 8.37118 7.09238 6.36682 5.91538 11.10205 8.43857 7.16431 6.44301 5.99551 11.16493 8.50625 7.23661 6.51964 6.07611 11.22801 8.57423 7.30928 6.59669 6.15717 11.29130 7.38232 6.67417 6.23870 7.45573 6.75207 6.32068 7.52950 6.83039 6.40311 7.60364 6.90912 6.48598 7.67814 6.98825 6.56929 7.75299 7.06779 6.65302 7.82820 7.14773 6.73719 7.90376 7.22807 6.82176 7.97967 7.30880 6.90675 8.05593 7.38991 6.99215 6.46224 6.53070 6.50056 8.64250 8.71107 8.77994 8.84909 8.91854 8.98828 9.05831 9.12863 9.19923 9.27101 5.70117 5.77330 594500 5.21647 4.65758 5.29208 4.73947 232049 4.70237 4.77415 4.84650 4.91940 4.99285 5.06685 5.14140 5.21647 5.29208 5.36822 5.44487 5.52204 5.59971 5.67789 4.10198 4.17938 4.25746 4.33620 4.41559 4.49563 4.57629 4.65758 4.73947 4.82197 4.90505 4.98870 5.07293 5.15770 5.24302 5.32888 5.41525 5.50214 5.58952 5.67740 5.76575 5.85457 5.94385 6.03357 6.12373 6.21431 6.30531 6.39672 6.48852 6.58071
Transcribed Image Text:Apps 4.750 4.875 5.000 3.875 4.000 4.125 4.250 4.375 4.500 4.625 4.750 4.875 5.000 5.125 5.250 5.375 5.500 5.625 5.750 5.875 6.000 6.125 6.250 0.39583 0.40625 0.41667 6.375 6.500 6.625 6.750 6.875 7.000 7.125 7.250 7.375 7.500 SEAC LA Show Transcribed Text Chrome OS Featu... 0.32292 0.33333 0.34375 0.35417 0.36458 0.37500 0.38542 0.39583 0.40625 0.41667 0.42708 0.43750 0.44792 0.45833 0.46875 0.47917 0.48958 0.50000 0.51042 0.52083 0.53125 0.54167 0.55208 0.56250 0.57292 10.48477 10.54556 10.60655 0.58333 0.59375 0.60417 0.61458 10.06250 473213 10.06521 10.12451 11.35480 11.41850 7.77832 7,84297 200201 11.48241 11.54653 11.61085 11.67537 11.74010 11.80504 11.87017 7.33440 5.99414 5.20959 7.39688 6.05980 5.27837 10.18403 7.45968 6.12587 5.34763 10.24375 7.52278 6.19234 5.41738 10.30369 7.58620 6.25922 5.48761 10.36384 7.64993 6.32649 5.55832 10.42420 7.71397 6.39417 5.62951 10.48477 7.77832 6.46224 5.70117 10.54556 7.84297 6.53070 5.77330 10.60655 7.90794 6.59956 5.84590 10.66776 7.97320 6.66881 5.91896 10.72917 8.03878 6.73844 5.99248 10.79079 8.10465 6.80847 6.06645 10.85263 8.17083 6.87887 6.14087 10.91467 8.23732 6.94966 6.21575 5.75656 10.97692 8.30410 7.02084 6.29106 5.83573 11.03938 8.37118 7.09238 6.36682 5.91538 11.10205 8.43857 7.16431 6.44301 5.99551 11.16493 8.50625 7.23661 6.51964 6.07611 11.22801 8.57423 7.30928 6.59669 6.15717 11.29130 7.38232 6.67417 6.23870 7.45573 6.75207 6.32068 7.52950 6.83039 6.40311 7.60364 6.90912 6.48598 7.67814 6.98825 6.56929 7.75299 7.06779 6.65302 7.82820 7.14773 6.73719 7.90376 7.22807 6.82176 7.97967 7.30880 6.90675 8.05593 7.38991 6.99215 6.46224 6.53070 6.50056 8.64250 8.71107 8.77994 8.84909 8.91854 8.98828 9.05831 9.12863 9.19923 9.27101 5.70117 5.77330 594500 5.21647 4.65758 5.29208 4.73947 232049 4.70237 4.77415 4.84650 4.91940 4.99285 5.06685 5.14140 5.21647 5.29208 5.36822 5.44487 5.52204 5.59971 5.67789 4.10198 4.17938 4.25746 4.33620 4.41559 4.49563 4.57629 4.65758 4.73947 4.82197 4.90505 4.98870 5.07293 5.15770 5.24302 5.32888 5.41525 5.50214 5.58952 5.67740 5.76575 5.85457 5.94385 6.03357 6.12373 6.21431 6.30531 6.39672 6.48852 6.58071
its ellook Print ferences Bob Jones bought a new log cabin for $80,000 at 6.50% interest for 15 years. Prepare an amortization schedule for the first three periods (Use Table 151) Note: Round your intermediate calculations and final answer to the nearest cent. Rate 2.000 2.125 2.250 2.375 2.500 2.625 2.750 2.875 3.000 3.125 3.250 3.375 3.500 3.625 3.750 3.875 4.000 Payment Number O Show Transcribed Text 4.125 4.250 4.375 1 2 3 TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Interest Only 0.16667 0.17708 0.18750 0.19792 0.20833 0.21875 0.22917 0.23958 0.25000 0.26042 0.27083 0.28125 0.29167 0.30208 0.31250 0.32292 4.500 4.625 4.750 Portion to- Interest 0.33333 0.34375 0.35417 0.36458 0.37500 0.38542 0.39583 10 Year Principal 9.20135 9.25743 9.31374 9.37026 9.42699 9.48394 9.54110 9.59848 9.65607 9.71388 9.77190 9.83014 9.88859 9,94725 10.00612 10.06521 10.12451 10.18403 10.24375 10.30369 Balance of loan outstanding 10.36384 10.42420 10.48477 15 Year 6.43509 6.49281 6.55085 6.60921 6.66789 6.72689 6.78622 6.84586 6.90582 5.54598 6.96609 5.60876 7.02669 5.67196 7.08760 5.73557 7.14883 5.79960 7.21037 5.86404 7.27222 5.92888 7.33440 5.99414 7.39688 6.05980 7.45968 6.12587 7.52278 6.19234 7.58620 6.25922 7.64993 6.32649 7.71397 6.39417 7.77832 6.46224 20 Year 5.05883 5.11825 5.17808 25 Year 4.23854 4.29966 4.36131 5.23834 4.42348 5.29903 ¹4.48617 5.36014 4.54938 5.42166 4.61311 5.48361 4.67735 4.74211 4.80738 4.87316 4.93945 5.00624 5.07352 5.14131 5.20959 5.27837 5.34763 5.41738 5.48761 5.55832 5.62951 5.70117 30 Year 3.69619 3.75902 3.82246 3.88653 3.95121 4.01651 4.08241 4.14892 4.21604 4.28375 4.35206 4.42096 4.49045 4.56051 4.63116 4.70237 4.77415 4.84650 4.91940 4.99285 5.06685 5.14140 521647 40 Year 3.02826 3.09444 3.16142 3.22921 3.29778 3.36714 3.43728 3.50818 3.57984 3.65226 3.72541 3.79930 3.87391 3.94923 4.02526 4.10198 4.17938 4.25746 4.33620 4.41559 4.49563 4.57629 4 65740
Transcribed Image Text:its ellook Print ferences Bob Jones bought a new log cabin for $80,000 at 6.50% interest for 15 years. Prepare an amortization schedule for the first three periods (Use Table 151) Note: Round your intermediate calculations and final answer to the nearest cent. Rate 2.000 2.125 2.250 2.375 2.500 2.625 2.750 2.875 3.000 3.125 3.250 3.375 3.500 3.625 3.750 3.875 4.000 Payment Number O Show Transcribed Text 4.125 4.250 4.375 1 2 3 TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Interest Only 0.16667 0.17708 0.18750 0.19792 0.20833 0.21875 0.22917 0.23958 0.25000 0.26042 0.27083 0.28125 0.29167 0.30208 0.31250 0.32292 4.500 4.625 4.750 Portion to- Interest 0.33333 0.34375 0.35417 0.36458 0.37500 0.38542 0.39583 10 Year Principal 9.20135 9.25743 9.31374 9.37026 9.42699 9.48394 9.54110 9.59848 9.65607 9.71388 9.77190 9.83014 9.88859 9,94725 10.00612 10.06521 10.12451 10.18403 10.24375 10.30369 Balance of loan outstanding 10.36384 10.42420 10.48477 15 Year 6.43509 6.49281 6.55085 6.60921 6.66789 6.72689 6.78622 6.84586 6.90582 5.54598 6.96609 5.60876 7.02669 5.67196 7.08760 5.73557 7.14883 5.79960 7.21037 5.86404 7.27222 5.92888 7.33440 5.99414 7.39688 6.05980 7.45968 6.12587 7.52278 6.19234 7.58620 6.25922 7.64993 6.32649 7.71397 6.39417 7.77832 6.46224 20 Year 5.05883 5.11825 5.17808 25 Year 4.23854 4.29966 4.36131 5.23834 4.42348 5.29903 ¹4.48617 5.36014 4.54938 5.42166 4.61311 5.48361 4.67735 4.74211 4.80738 4.87316 4.93945 5.00624 5.07352 5.14131 5.20959 5.27837 5.34763 5.41738 5.48761 5.55832 5.62951 5.70117 30 Year 3.69619 3.75902 3.82246 3.88653 3.95121 4.01651 4.08241 4.14892 4.21604 4.28375 4.35206 4.42096 4.49045 4.56051 4.63116 4.70237 4.77415 4.84650 4.91940 4.99285 5.06685 5.14140 521647 40 Year 3.02826 3.09444 3.16142 3.22921 3.29778 3.36714 3.43728 3.50818 3.57984 3.65226 3.72541 3.79930 3.87391 3.94923 4.02526 4.10198 4.17938 4.25746 4.33620 4.41559 4.49563 4.57629 4 65740
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Personal Finance
Personal Finance
Finance
ISBN:
9781337669214
Author:
GARMAN
Publisher:
Cengage
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS