# (Solved) Determine the annual repayment schedule for the first two years (i., interest, principal repayment, and balance owed) for each of the following....

Determine the annual repayment schedule for the first two years (i.e., interest, principal repayment, and balance owed) for each of the following. (Assume that only one payment is made annually.) Show all work.

Â Â Â Â Â Â Â Â Â Â Â  a. \$100,000 conventional mortgage for 25 years at 5 percent

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  Annual Payment = PMT (x) =

 Year Interest Payment Principal Repayment Loan Balance 1 2

Â Â Â Â Â Â Â Â Â Â Â  b. \$100,000 conventional mortgage for 20 years at 5 percent

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  Annual Payment = PMT (x) =

 Year Interest Payment Principal Repayment Loan Balance 1 2

Â Â Â Â Â Â Â Â Â Â Â  c. \$100,000 conventional mortgage for 25 years at 6 percent

Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â  Annual Payment = PMT (x) =

 Year Interest Payment Principal Repayment Loan Balance 1 2

d. Compare the payments required by each mortgage.

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This question was answered on: Mar 27, 2022

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