RES334 Week 3 Assignment – 3/19/2021 The Week 3 Assignment is about Refinancing Options and is very complex. Make up two new amortization schedules following the instructions for the Week 2...

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Answered Same DayMar 23, 2021

Answer To: RES334 Week 3 Assignment – 3/19/2021 The Week 3 Assignment is about Refinancing Options and is very...

Shakeel answered on Mar 24 2021
147 Votes
Mortgage
    $100,000                            $ 98,248.26
    12.00%                            10.00%
    30                            25
    A MORTGAGE CALCULATOR:                            A MORTGAGE CALCULATOR:
        Payment Calc    $1,028.61                        Payment Calc    $892.78
    Mortgage    $100,000                         Mortgage    $ 98,248.26    
    Term    30                        Term    25
    Month    Beg. Amt.    Pmt    Interest    Principal    End. Bal.        Month    Beg. Amt.    Pmt    Interest    Principal    End. Bal.
    1    $100,000.00    $1,028.61    ($1,000.00)    $28.61    $ 99,971.39        1    $98,248.26    $892.78    ($818.74)    $74.05    $ 98,174.22
    2    $ 99,971.39    $1,028.61    ($999.71)    $28.90    $ 99,942.49        2    $ 98,174.22    $892.78    ($818.12)    $74.66    $ 98,099.55
    3    $ 99,942.49    $1,028.61    ($999.42)    $29.19    $ 99,913.30        3    $ 98,099.55    $892.78    ($817.50)    $75.29    $ 98,024.26
    4    $ 99,913.30    $1,028.61    ($999.13)    $29.48    $ 99,883.82        4    $ 98,024.26    $892.78    ($816.87)    $75.91    $ 97,948.35
    5    $ 99,883.82    $1,028.61    ($998.84)    $29.77    $ 99,854.05        5    $ 97,948.35    $892.78    ($816.24)    $76.55    $ 97,871.80
    6    $ 99,854.05    $1,028.61    ($998.54)    $30.07    $ 99,823.97        6    $ 97,871.80    $892.78    ($815.60)    $77.18    $ 97,794.62
    7    $ 99,823.97    $1,028.61    ($998.24)    $30.37    $ 99,793.60        7    $ 97,794.62    $892.78    ($814.96)    $77.83    $ 97,716.79
    8    $ 99,793.60    $1,028.61    ($997.94)    $30.68    $ 9
9,762.93        8    $ 97,716.79    $892.78    ($814.31)    $78.48    $ 97,638.32
    9    $ 99,762.93    $1,028.61    ($997.63)    $30.98    $ 99,731.94        9    $ 97,638.32    $892.78    ($813.65)    $79.13    $ 97,559.19
    10    $ 99,731.94    $1,028.61    ($997.32)    $31.29    $ 99,700.65        10    $ 97,559.19    $892.78    ($812.99)    $79.79    $ 97,479.40
    11    $ 99,700.65    $1,028.61    ($997.01)    $31.61    $ 99,669.04        11    $ 97,479.40    $892.78    ($812.33)    $80.45    $ 97,398.94
    12    $ 99,669.04    $1,028.61    ($996.69)    $31.92    $ 99,637.12        12    $ 97,398.94    $892.78    ($811.66)    $81.12    $ 97,317.82
    13    $ 99,637.12    $1,028.61    ($996.37)    $32.24    $ 99,604.88        13    $ 97,317.82    $892.78    ($810.98)    $81.80    $ 97,236.02
    14    $ 99,604.88    $1,028.61    ($996.05)    $32.56    $ 99,572.32        14    $ 97,236.02    $892.78    ($810.30)    $82.48    $ 97,153.53
    15    $ 99,572.32    $1,028.61    ($995.72)    $32.89    $ 99,539.43        15    $ 97,153.53    $892.78    ($809.61)    $83.17    $ 97,070.36
    16    $ 99,539.43    $1,028.61    ($995.39)    $33.22    $ 99,506.21        16    $ 97,070.36    $892.78    ($808.92)    $83.86    $ 96,986.50
    17    $ 99,506.21    $1,028.61    ($995.06)    $33.55    $ 99,472.66        17    $ 96,986.50    $892.78    ($808.22)    $84.56    $ 96,901.94
    18    $ 99,472.66    $1,028.61    ($994.73)    $33.89    $ 99,438.77        18    $ 96,901.94    $892.78    ($807.52)    $85.27    $ 96,816.67
    19    $ 99,438.77    $1,028.61    ($994.39)    $34.22    $ 99,404.55        19    $ 96,816.67    $892.78    ($806.81)    $85.98    $ 96,730.70
    20    $ 99,404.55    $1,028.61    ($994.05)    $34.57    $ 99,369.98        20    $ 96,730.70    $892.78    ($806.09)    $86.69    $ 96,644.00
    21    $ 99,369.98    $1,028.61    ($993.70)    $34.91    $ 99,335.07        21    $ 96,644.00    $892.78    ($805.37)    $87.42    $ 96,556.59
    22    $ 99,335.07    $1,028.61    ($993.35)    $35.26    $ 99,299.80        22    $ 96,556.59    $892.78    ($804.64)    $88.14    $ 96,468.44
    23    $ 99,299.80    $1,028.61    ($993.00)    $35.61    $ 99,264.19        23    $ 96,468.44    $892.78    ($803.90)    $88.88    $ 96,379.56
    24    $ 99,264.19    $1,028.61    ($992.64)    $35.97    $ 99,228.22        24    $ 96,379.56    $892.78    ($803.16)    $89.62    $ 96,289.94
    25    $ 99,228.22    $1,028.61    ($992.28)    $36.33    $ 99,191.89        25    $ 96,289.94    $892.78    ($802.42)    $90.37    $ 96,199.58
    26    $ 99,191.89    $1,028.61    ($991.92)    $36.69    $ 99,155.20        26    $ 96,199.58    $892.78    ($801.66)    $91.12    $ 96,108.46
    27    $ 99,155.20    $1,028.61    ($991.55)    $37.06    $ 99,118.13        27    $ 96,108.46    $892.78    ($800.90)    $91.88    $ 96,016.58
    28    $ 99,118.13    $1,028.61    ($991.18)    $37.43    $ 99,080.70        28    $ 96,016.58    $892.78    ($800.14)    $92.64    $ 95,923.93
    29    $ 99,080.70    $1,028.61    ($990.81)    $37.81    $ 99,042.90        29    $ 95,923.93    $892.78    ($799.37)    $93.42    $ 95,830.52
    30    $ 99,042.90    $1,028.61    ($990.43)    $38.18    $ 99,004.71        30    $ 95,830.52    $892.78    ($798.59)    $94.20    $ 95,736.32
    31    $ 99,004.71    $1,028.61    ($990.05)    $38.57    $ 98,966.15        31    $ 95,736.32    $892.78    ($797.80)    $94.98    $ 95,641.34
    32    $ 98,966.15    $1,028.61    ($989.66)    $38.95    $ 98,927.20        32    $ 95,641.34    $892.78    ($797.01)    $95.77    $ 95,545.57
    33    $ 98,927.20    $1,028.61    ($989.27)    $39.34    $ 98,887.86        33    $ 95,545.57    $892.78    ($796.21)    $96.57    $ 95,449.00
    34    $ 98,887.86    $1,028.61    ($988.88)    $39.73    $ 98,848.12        34    $ 95,449.00    $892.78    ($795.41)    $97.37    $ 95,351.63
    35    $ 98,848.12    $1,028.61    ($988.48)    $40.13    $ 98,807.99        35    $ 95,351.63    $892.78    ($794.60)    $98.19    $ 95,253.44
    36    $ 98,807.99    $1,028.61    ($988.08)    $40.53    $ 98,767.46        36    $ 95,253.44    $892.78    ($793.78)    $99.00    $ 95,154.44
    37    $ 98,767.46    $1,028.61    ($987.67)    $40.94    $ 98,726.52        37    $ 95,154.44    $892.78    ($792.95)    $99.83    $ 95,054.61
    38    $ 98,726.52    $1,028.61    ($987.27)    $41.35    $ 98,685.17        38    $ 95,054.61    $892.78    ($792.12)    $100.66    $ 94,953.95
    39    $ 98,685.17    $1,028.61    ($986.85)    $41.76    $ 98,643.41        39    $ 94,953.95    $892.78    ($791.28)    $101.50    $ 94,852.45
    40    $ 98,643.41    $1,028.61    ($986.43)    $42.18    $ 98,601.23        40    $ 94,852.45    $892.78    ($790.44)    $102.35    $ 94,750.10
    41    $ 98,601.23    $1,028.61    ($986.01)    $42.60    $ 98,558.63        41    $ 94,750.10    $892.78    ($789.58)    $103.20    $ 94,646.90
    42    $ 98,558.63    $1,028.61    ($985.59)    $43.03    $ 98,515.61        42    $ 94,646.90    $892.78    ($788.72)    $104.06    $ 94,542.84
    43    $ 98,515.61    $1,028.61    ($985.16)    $43.46    $ 98,472.15        43    $ 94,542.84    $892.78    ($787.86)    $104.93    $ 94,437.92
    44    $ 98,472.15    $1,028.61    ($984.72)    $43.89    $ 98,428.26        44    $ 94,437.92    $892.78    ($786.98)    $105.80    $ 94,332.12
    45    $ 98,428.26    $1,028.61    ($984.28)    $44.33    $ 98,383.93        45    $ 94,332.12    $892.78    ($786.10)    $106.68    $ 94,225.44
    46    $ 98,383.93    $1,028.61    ($983.84)    $44.77    $ 98,339.16        46    $ 94,225.44    $892.78    ($785.21)    $107.57    $ 94,117.87
    47    $ 98,339.16    $1,028.61    ($983.39)    $45.22    $ 98,293.94        47    $ 94,117.87    $892.78    ($784.32)    $108.47    $ 94,009.40
    48    $ 98,293.94    $1,028.61    ($982.94)    $45.67    $ 98,248.26        48    $ 94,009.40    $892.78    ($783.41)    $109.37    $ 93,900.03
    49    $ 98,248.26    $1,028.61    ($982.48)    $46.13    $ 98,202.13        49    $ 93,900.03    $892.78    ($782.50)    $110.28    $ 93,789.75
    50    $ 98,202.13    $1,028.61    ($982.02)    $46.59    $ 98,155.54        50    $ 93,789.75    $892.78    ($781.58)    $111.20    $ 93,678.54
    51    $ 98,155.54    $1,028.61    ($981.56)    $47.06    $ 98,108.48        51    $ 93,678.54    $892.78    ($780.65)    $112.13    $ 93,566.42
    52    $ 98,108.48    $1,028.61    ($981.08)    $47.53    $ 98,060.96        52    $ 93,566.42    $892.78    ($779.72)    $113.06    $ 93,453.35
    53    $ 98,060.96    $1,028.61    ($980.61)    $48.00    $ 98,012.95        53    $ 93,453.35    $892.78    ($778.78)    $114.00    $ 93,339.35
    54    $ 98,012.95    $1,028.61    ($980.13)    $48.48    $ 97,964.47        54    $ 93,339.35    $892.78    ($777.83)    $114.95    $ 93,224.39
    55    $ 97,964.47    $1,028.61    ($979.64)    $48.97    $ 97,915.50        55    $ 93,224.39    $892.78    ($776.87)    $115.91    $ 93,108.48
    56    $ 97,915.50    $1,028.61    ($979.16)    $49.46    $ 97,866.04        56    $ 93,108.48    $892.78    ($775.90)    $116.88    $ 92,991.60
    57    $ 97,866.04    $1,028.61    ($978.66)    $49.95    $ 97,816.09        57    $ 92,991.60    $892.78    ($774.93)    $117.85    $ 92,873.75
    58    $ 97,816.09    $1,028.61    ($978.16)    $50.45    $ 97,765.64        58    $ 92,873.75    $892.78    ($773.95)    $118.83    $ 92,754.91
    59    $ 97,765.64    $1,028.61    ($977.66)    $50.96    $ 97,714.68        59    $ 92,754.91    $892.78    ($772.96)    $119.83    $ 92,635.09
    60    $ 97,714.68    $1,028.61    ($977.15)    $51.47    $ 97,663.22        60    $ 92,635.09    $892.78    ($771.96)    $120.82    $ 92,514.27
    61    $ 97,663.22    $1,028.61    ($976.63)    $51.98    $ 97,611.24        61    $ 92,514.27    $892.78    ($770.95)    $121.83    $ 92,392.44
    62    $ 97,611.24    $1,028.61    ($976.11)    $52.50    $ 97,558.74        62    $ 92,392.44    $892.78    ($769.94)    $122.85    $ 92,269.59
    63    $ 97,558.74    $1,028.61    ($975.59)    $53.03    $ 97,505.71        63    $ 92,269.59    $892.78    ($768.91)    $123.87    $ 92,145.72
    64    $ 97,505.71    $1,028.61    ($975.06)    $53.56    $ 97,452.16        64    $ 92,145.72    $892.78    ($767.88)    $124.90    $ 92,020.82
    65    $ 97,452.16    $1,028.61    ($974.52)    $54.09    $ 97,398.07        65    $ 92,020.82    $892.78    ($766.84)    $125.94    $ 91,894.88
    66    $ 97,398.07    $1,028.61    ($973.98)    $54.63    $ 97,343.43        66    $ 91,894.88    $892.78    ($765.79)    $126.99    $ 91,767.88
    67    $ 97,343.43    $1,028.61    ($973.43)    $55.18    $ 97,288.26        67    $ 91,767.88    $892.78    ($764.73)    $128.05    $ 91,639.83
    68    $ 97,288.26    $1,028.61    ($972.88)    $55.73    $ 97,232.53        68    $ 91,639.83    $892.78    ($763.67)    $129.12    $ 91,510.72
    69    $ 97,232.53    $1,028.61    ($972.33)    $56.29    $ 97,176.24        69    $ 91,510.72    $892.78    ($762.59)    $130.19    $ 91,380.52
    70    $ 97,176.24    $1,028.61    ($971.76)    $56.85    $ 97,119.39        70    $ 91,380.52    $892.78    ($761.50)    $131.28    $ 91,249.24
    71    $ 97,119.39    $1,028.61    ($971.19)    $57.42    $ 97,061.97        71    $ 91,249.24    $892.78    ($760.41)    $132.37    $ 91,116.87
    72    $ 97,061.97    $1,028.61    ($970.62)    $57.99    $ 97,003.98        72    $ 91,116.87    $892.78    ($759.31)    $133.48    $ 90,983.40
    73    $ 97,003.98    $1,028.61    ($970.04)    $58.57    $ 96,945.40        73    $ 90,983.40    $892.78    ($758.19)    $134.59    $ 90,848.81
    74    $ 96,945.40    $1,028.61    ($969.45)    $59.16    $ 96,886.25        74    $ 90,848.81    $892.78    ($757.07)    $135.71    $ 90,713.10
    75    $ 96,886.25    $1,028.61    ($968.86)    $59.75    $ 96,826.50        75    $ 90,713.10    $892.78    ($755.94)    $136.84    $ 90,576.26
    76    $ 96,826.50    $1,028.61    ($968.26)    $60.35    $ 96,766.15        76    $ 90,576.26    $892.78    ($754.80)    $137.98    $ 90,438.28
    77    $ 96,766.15    $1,028.61    ($967.66)    $60.95    $ 96,705.20        77    $ 90,438.28    $892.78    ($753.65)    $139.13    $ 90,299.15
    78    $ 96,705.20    $1,028.61    ($967.05)    $61.56    $ 96,643.64        78    $ 90,299.15    $892.78    ($752.49)    $140.29    $ 90,158.86
    79    $ 96,643.64    $1,028.61    ($966.44)    $62.18    $ 96,581.46        79    $ 90,158.86    $892.78    ($751.32)    $141.46    $ 90,017.40
    80    $ 96,581.46    $1,028.61    ($965.81)    $62.80    $ 96,518.66        80    $ 90,017.40    $892.78    ($750.15)    $142.64    $ 89,874.76
    81    $ 96,518.66    $1,028.61    ($965.19)    $63.43    $ 96,455.24        81    $ 89,874.76    $892.78    ($748.96)    $143.83    $ 89,730.94
    82    $ 96,455.24    $1,028.61    ($964.55)    $64.06    $ 96,391.18        82    $ 89,730.94    $892.78    ($747.76)    $145.02    $ 89,585.91
    83    $ 96,391.18    $1,028.61    ($963.91)    $64.70    $ 96,326.47        83    $ 89,585.91    $892.78    ($746.55)    $146.23    $ 89,439.68
    84    $ 96,326.47    $1,028.61    ($963.26)    $65.35    $ 96,261.13        84    $ 89,439.68    $892.78    ($745.33)    $147.45    $ 89,292.23
    85    $ 96,261.13    $1,028.61    ($962.61)    $66.00    $ 96,195.13        85    $ 89,292.23    $892.78    ($744.10)    $148.68    $ 89,143.54
    86    $ 96,195.13    $1,028.61    ($961.95)    $66.66    $ 96,128.46        86    $ 89,143.54    $892.78    ($742.86)    $149.92    $ 88,993.63
    87    $ 96,128.46    $1,028.61    ($961.28)    $67.33    $ 96,061.14        87    $ 88,993.63    $892.78    ($741.61)    $151.17    $ 88,842.46
    88    $ 96,061.14    $1,028.61    ($960.61)    $68.00    $ 95,993.14        88    $ 88,842.46    $892.78    ($740.35)    $152.43    $ 88,690.03
    89    $ 95,993.14    $1,028.61    ($959.93)    $68.68    $ 95,924.45        89    $ 88,690.03    $892.78    ($739.08)    $153.70    $ 88,536.33
    90    $ 95,924.45    $1,028.61    ($959.24)    $69.37    $ 95,855.09        90    $ 88,536.33    $892.78    ($737.80)    $154.98    $ 88,381.35
    91    $ 95,855.09    $1,028.61    ($958.55)    $70.06    $ 95,785.02        91    $ 88,381.35    $892.78    ($736.51)    $156.27    $ 88,225.08
    92    $ 95,785.02    $1,028.61    ($957.85)    $70.76    $ 95,714.26        92    $ 88,225.08    $892.78    ($735.21)    $157.57    $ 88,067.50
    93    $ 95,714.26    $1,028.61    ($957.14)    $71.47    $ 95,642.79        93    $ 88,067.50    $892.78    ($733.90)    $158.89    $ 87,908.62
    94    $ 95,642.79    $1,028.61    ($956.43)    $72.18    $ 95,570.61        94    $ 87,908.62    $892.78    ($732.57)    $160.21    $ 87,748.41
    95    $ 95,570.61    $1,028.61    ($955.71)    $72.91    $ 95,497.70        95    $ 87,748.41    $892.78    ($731.24)    $161.55    $ 87,586.86
    96    $ 95,497.70    $1,028.61    ($954.98)    $73.64    $ 95,424.06        96    $ 87,586.86    $892.78    ($729.89)    $162.89    $ 87,423.97
    97    $ 95,424.06    $1,028.61    ($954.24)    $74.37    $ 95,349.69        97    $ 87,423.97    $892.78    ($728.53)    $164.25    $ 87,259.72
    98    $ 95,349.69    $1,028.61    ($953.50)    $75.12    $ 95,274.58        98    $ 87,259.72    $892.78    ($727.16)    $165.62    $ 87,094.10
    99    $ 95,274.58    $1,028.61    ($952.75)    $75.87    $ 95,198.71        99    $ 87,094.10    $892.78    ($725.78)    $167.00    $ 86,927.10
    100    $ 95,198.71    $1,028.61    ($951.99)    $76.63    $ 95,122.08        100    $ 86,927.10    $892.78    ($724.39)    $168.39    $ ...
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