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
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 $ 99,762.93 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 $ ...