Please provide step by step guide without using excel and use financial calculator ...
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Please provide step by step guide without using excel and use financial calculator Problems are based on the following information:Youve just bought a house and took a $ mortgage that you plan to repay in equal monthly payment of $ during the next years starting next month ie you will make a total of monthly payments The monthly interest rate is Problem :How much of your SECOND payment will be interest? Problem :What will be your balance years from now right after your th payment Problem :If years from now you will make a prepayment an extra payment in addition to your regular th payment of $ by how many months rounded to the closest integer will it decrease the length of your mortgage? Problem :If years from now you will make a prepayment an extra payment in addition to your regular th payment of $ by how much such prepayment will decrease your outstanding balance years from now at the time of your th payment
Please provide step by step guide without using excel and use financial calculator
Problems are based on the following information:Youve just bought a house and took a $ mortgage that you plan to repay in equal monthly payment of $ during the next years starting next month ie you will make a total of monthly payments The monthly interest rate is
Problem :How much of your SECOND payment will be interest?
Problem :What will be your balance years from now right after your th payment
Problem :If years from now you will make a prepayment an extra payment in addition to your regular th payment of $ by how many months rounded to the closest integer will it decrease the length of your mortgage?
Problem :If years from now you will make a prepayment an extra payment in addition to your regular th payment of $ by how much such prepayment will decrease your outstanding balance years from now at the time of your th payment
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