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NE A loan of $19,700.00 is repaid by making annual payments of $6,145.75 at the end of each year. If interest is 6.61% compounded annually. How many payments are required to amortize the loan? Round N to two decimal places. 1/Y P/Y=C/Y= PV=S PMT=S FV=$ Complete the amortization table below. Enter only POSITIVE VALUES IN THE AMORTIZATION TABLE (rounded to two decimal places). Payment number Payment amount interest Paid Principal Repaid Balance 0) $19,700.00 1) S $ 2) $ S $ si 3) s 4) $ Total Vanessa is purchasing property worth $1,490,000 with a down payment of $327,800 and semi-annual payments at the end of every six months for 30 years. If interest is 2.43% compounded monthly: (a) What is the amount of each payment? Round the answer to the nearest cent. P/Y= C/Y= IN = 1/Y = PV = 5 PMT = $ FV = $ (b) What is the cost of financing? Round the answer to the nearest cent. Cost of financing - 5 (enter a positive value) Lindsey took out a mortgage of $400,000 for a house and just made the 71st end of month payment. If interest on the loan was 3.69% compounded monthly and the mortgage has a period of 20 years. 1) What are her monthly payments? Round PMT to two decimal places. P/Y= CAY= NE I/YE PV = $ PMT = 5 FV = $ 2) What is her current outstanding balance after the 71st payment? Outstanding Balance = 5 (enter a positive value rounded to two decimal places) Alex is converting an RRSP balance of $250,000 into a RRIF. Alex wants to receive $1,622 at the beginning of each month for 16 years. What nominal annual rate of interest compounded semi-annually is required? Round the answer (I/Y) to 2 decimal places. Choose BGN or END 2 PV = 5 PMT - $ FV = $ P/Y= C/Y = N = 1/Y =

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