A 30-year mortgage has an annual interest rate of 4.75 percent and a loan amount
ID: 2751208 • Letter: A
Question
A 30-year mortgage has an annual interest rate of 4.75 percent and a loan amount of $235,000. (Hint: Use the "IPMT" and "PPMT" functions in Excel.) What are the interest and principal for the 48th payment?(Round your answers to 2 decimal places. Omit the "$" sign in your response.)
A 30-year mortgage has an annual interest rate of 4.75 percent and a loan amount of $235,000. (Hint: Use the "IPMT" and "PPMT" functions in Excel.) What are the interest and principal for the 48th payment?(Round your answers to 2 decimal places. Omit the "$" sign in your response.)
Explanation / Answer
The 48th Principal amount is $355.99 and Interest element is $869.88.
Balance Equated instalment Principal Interest Closing Balance 1 235000 1225.87 295.66 930.21 234704.3383 2 234704.3383 1225.87 296.83 929.04 234407.5063 3 234407.5063 1225.87 298.01 927.86 234109.4994 4 234109.4994 1225.87 299.19 926.68 233810.3128 5 233810.3128 1225.87 300.37 925.50 233509.9420 6 233509.9420 1225.87 301.56 924.31 233208.3822 7 233208.3822 1225.87 302.75 923.12 232905.6287 8 232905.6287 1225.87 303.95 921.92 232601.6768 9 232601.6768 1225.87 305.16 920.71 232296.5218 10 232296.5218 1225.87 306.36 919.51 231990.1588 11 231990.1588 1225.87 307.58 918.29 231682.5832 12 231682.5832 1225.87 308.79 917.08 231373.7901 13 231373.7901 1225.87 310.02 915.85 231063.7747 14 231063.7747 1225.87 311.24 914.63 230752.5321 15 230752.5321 1225.87 312.47 913.40 230440.0576 16 230440.0576 1225.87 313.71 912.16 230126.3461 17 230126.3461 1225.87 314.95 910.92 229811.3929 18 229811.3929 1225.87 316.20 909.67 229495.1930 19 229495.1930 1225.87 317.45 908.42 229177.7415 20 229177.7415 1225.87 318.71 907.16 228859.0334 21 228859.0334 1225.87 319.97 905.90 228539.0637 22 228539.0637 1225.87 321.24 904.63 228217.8275 23 228217.8275 1225.87 322.51 903.36 227895.3197 24 227895.3197 1225.87 323.78 902.09 227571.5354 25 227571.5354 1225.87 325.07 900.80 227246.4694 26 227246.4694 1225.87 326.35 899.52 226920.1166 27 226920.1166 1225.87 327.64 898.23 226592.4721 28 226592.4721 1225.87 328.94 896.93 226263.5306 29 226263.5306 1225.87 330.24 895.63 225933.2871 30 225933.2871 1225.87 331.55 894.32 225601.7364 31 225601.7364 1225.87 332.86 893.01 225268.8733 32 225268.8733 1225.87 334.18 891.69 224934.6925 33 224934.6925 1225.87 335.50 890.37 224599.1890 34 224599.1890 1225.87 336.83 889.04 224262.3575 35 224262.3575 1225.87 338.16 887.71 223924.1927 36 223924.1927 1225.87 339.50 886.37 223584.6893 37 223584.6893 1225.87 340.85 885.02 223243.8420 38 223243.8420 1225.87 342.20 883.67 222901.6455 39 222901.6455 1225.87 343.55 882.32 222558.0945 40 222558.0945 1225.87 344.91 880.96 222213.1837 41 222213.1837 1225.87 346.28 879.59 221866.9075 42 221866.9075 1225.87 347.65 878.22 221519.2607 43 221519.2607 1225.87 349.02 876.85 221170.2378 44 221170.2378 1225.87 350.40 875.47 220819.8333 45 220819.8333 1225.87 351.79 874.08 220468.0418 46 220468.0418 1225.87 353.18 872.69 220114.8578 47 220114.8578 1225.87 354.58 871.29 219760.2758 48 219760.2758 1225.87 355.99 869.88 219404.2902 49 219404.2902 1225.87 357.39 868.48 219046.8955 50 219046.8955 1225.87 358.81 867.06 218688.0861 51 218688.0861 1225.87 360.23 865.64 218327.8565 52 218327.8565 1225.87 361.66 864.21 217966.2009 53 217966.2009 1225.87 363.09 862.78 217603.1138 54 217603.1138 1225.87 364.52 861.35 217238.5895 55 217238.5895 1225.87 365.97 859.90 216872.6222 56 216872.6222 1225.87 367.42 858.45 216505.2063 57 216505.2063 1225.87 368.87 857.00 216136.3361 58 216136.3361 1225.87 370.33 855.54 215766.0058 59 215766.0058 1225.87 371.80 854.07 215394.2095 60 215394.2095 1225.87 373.27 852.60 215020.9416 61 215020.9416 1225.87 374.75 851.12 214646.1962 62 214646.1962 1225.87 376.23 849.64 214269.9674 63 214269.9674 1225.87 377.72 848.15 213892.2493 64 213892.2493 1225.87 379.21 846.66 213513.0362 65 213513.0362 1225.87 380.71 845.16 213132.3219 66 213132.3219 1225.87 382.22 843.65 212750.1007 67 212750.1007 1225.87 383.73 842.14 212366.3665 68 212366.3665 1225.87 385.25 840.62 211981.1134 69 211981.1134 1225.87 386.78 839.09 211594.3353 70 211594.3353 1225.87 388.31 837.56 211206.0262 71 211206.0262 1225.87 389.85 836.02 210816.1800 72 210816.1800 1225.87 391.39 834.48 210424.7908 73 210424.7908 1225.87 392.94 832.93 210031.8522 74 210031.8522 1225.87 394.49 831.38 209637.3583 75 209637.3583 1225.87 396.06 829.81 209241.3028 76 209241.3028 1225.87 397.62 828.25 208843.6797 77 208843.6797 1225.87 399.20 826.67 208444.4826 78 208444.4826 1225.87 400.78 825.09 208043.7053 79 208043.7053 1225.87 402.36 823.51 207641.3416 80 207641.3416 1225.87 403.96 821.91 207237.3853 81 207237.3853 1225.87 405.56 820.31 206831.8299 82 206831.8299 1225.87 407.16 818.71 206424.6693 83 206424.6693 1225.87 408.77 817.10 206015.8969 84 206015.8969 1225.87 410.39 815.48 205605.5065 85 205605.5065 1225.87 412.01 813.86 205193.4916 86 205193.4916 1225.87 413.65 812.22 204779.8459 87 204779.8459 1225.87 415.28 810.59 204364.5628 88 204364.5628 1225.87 416.93 808.94 203947.6358 89 203947.6358 1225.87 418.58 807.29 203529.0586 90 203529.0586 1225.87 420.23 805.64 203108.8244 91 203108.8244 1225.87 421.90 803.97 202686.9268 92 202686.9268 1225.87 423.57 802.30 202263.3593 93 202263.3593 1225.87 425.24 800.63 201838.1151 94 201838.1151 1225.87 426.93 798.94 201411.1876 95 201411.1876 1225.87 428.62 797.25 200982.5702 96 200982.5702 1225.87 430.31 795.56 200552.2562 97 200552.2562 1225.87 432.02 793.85 200120.2389 98 200120.2389 1225.87 433.73 792.14 199686.5115 99 199686.5115 1225.87 435.44 790.43 199251.0673 100 199251.0673 1225.87 437.17 788.70 198813.8994 101 198813.8994 1225.87 438.90 786.97 198375.0011 102 198375.0011 1225.87 440.64 785.23 197934.3655 103 197934.3655 1225.87 442.38 783.49 197491.9857 104 197491.9857 1225.87 444.13 781.74 197047.8548 105 197047.8548 1225.87 445.89 779.98 196601.9659 106 196601.9659 1225.87 447.65 778.22 196154.3120 107 196154.3120 1225.87 449.43 776.44 195704.8862 108 195704.8862 1225.87 451.20 774.67 195253.6813 109 195253.6813 1225.87 452.99 772.88 194800.6905 110 194800.6905 1225.87 454.78 771.09 194345.9066 111 194345.9066 1225.87 456.58 769.29 193889.3224 112 193889.3224 1225.87 458.39 767.48 193430.9310 113 193430.9310 1225.87 460.21 765.66 192970.7251 114 192970.7251 1225.87 462.03 763.84 192508.6976 115 192508.6976 1225.87 463.86 762.01 192044.8412 116 192044.8412 1225.87 465.69 760.18 191579.1486 117 191579.1486 1225.87 467.54 758.33 191111.6128 118 191111.6128 1225.87 469.39 756.48 190642.2262 119 190642.2262 1225.87 471.24 754.63 190170.9817 120 190170.9817 1225.87 473.11 752.76 189697.8719 121 189697.8719 1225.87 474.98 750.89 189222.8893 122 189222.8893 1225.87 476.86 749.01 188746.0265 123 188746.0265 1225.87 478.75 747.12 188267.2762 124 188267.2762 1225.87 480.65 745.22 187786.6309 125 187786.6309 1225.87 482.55 743.32 187304.0829 126 187304.0829 1225.87 484.46 741.41 186819.6249 127 186819.6249 1225.87 486.38 739.49 186333.2493 128 186333.2493 1225.87 488.30 737.57 185844.9484 129 185844.9484 1225.87 490.23 735.64 185354.7147 130 185354.7147 1225.87 492.17 733.70 184862.5404 131 184862.5404 1225.87 494.12 731.75 184368.4180 132 184368.4180 1225.87 496.08 729.79 183872.3396 133 183872.3396 1225.87 498.04 727.83 183374.2976 134 183374.2976 1225.87 500.01 725.86 182874.2842 135 182874.2842 1225.87 501.99 723.88 182372.2916 136 182372.2916 1225.87 503.98 721.89 181868.3119 137 181868.3119 1225.87 505.97 719.90 181362.3373 138 181362.3373 1225.87 507.98 717.89 180854.3599 139 180854.3599 1225.87 509.99 715.88 180344.3717 140 180344.3717 1225.87 512.01 713.86 179832.3649 141 179832.3649 1225.87 514.03 711.84 179318.3313 142 179318.3313 1225.87 516.07 709.80 178802.2631 143 178802.2631 1225.87 518.11 707.76 178284.1520 144 178284.1520 1225.87 520.16 705.71 177763.9901 145 177763.9901 1225.87 522.22 703.65 177241.7692 146 177241.7692 1225.87 524.29 701.58 176717.4812 147 176717.4812 1225.87 526.36 699.51 176191.1179 148 176191.1179 1225.87 528.45 697.42 175662.6711 149 175662.6711 1225.87 530.54 695.33 175132.1325 150 175132.1325 1225.87 532.64 693.23 174599.4939 151 174599.4939 1225.87 534.75 691.12 174064.7469 152 174064.7469 1225.87 536.86 689.01 173527.8832 153 173527.8832 1225.87 538.99 686.88 172988.8944 154 172988.8944 1225.87 541.12 684.75 172447.7721 155 172447.7721 1225.87 543.26 682.61 171904.5078 156 171904.5078 1225.87 545.41 680.46 171359.0932 157 171359.0932 1225.87 547.57 678.30 170811.5196 158 170811.5196 1225.87 549.74 676.13 170261.7785 159 170261.7785 1225.87 551.92 673.95 169709.8614 160 169709.8614 1225.87 554.10 671.77 169155.7596 161 169155.7596 1225.87 556.30 669.57 168599.4645 162 168599.4645 1225.87 558.50 667.37 168040.9674 163 168040.9674 1225.87 560.71 665.16 167480.2595 164 167480.2595 1225.87 562.93 662.94 166917.3322 165 166917.3322 1225.87 565.16 660.71 166352.1767 166 166352.1767 1225.87 567.39 658.48 165784.7840 167 165784.7840 1225.87 569.64 656.23 165215.1455 168 165215.1455 1225.87 571.89 653.98 164643.2521 169 164643.2521 1225.87 574.16 651.71 164069.0950 170 164069.0950 1225.87 576.43 649.44 163492.6651 171 163492.6651 1225.87 578.71 647.16 162913.9536 172 162913.9536 1225.87 581.00 644.87 162332.9513 173 162332.9513 1225.87 583.30 642.57 161749.6492 174 161749.6492 1225.87 585.61 640.26 161164.0383 175 161164.0383 1225.87 587.93 637.94 160576.1093 176 160576.1093 1225.87 590.26 635.61 159985.8530 177 159985.8530 1225.87 592.59 633.28 159393.2604 178 159393.2604 1225.87 594.94 630.93 158798.3220 179 158798.3220 1225.87 597.29 628.58 158201.0287 180 158201.0287 1225.87 599.66 626.21 157601.3711 181 157601.3711 1225.87 602.03 623.84 156999.3399 182 156999.3399 1225.87 604.41 621.46 156394.9256 183 156394.9256 1225.87 606.81 619.06 155788.1188 184 155788.1188 1225.87 609.21 616.66 155178.9101 185 155178.9101 1225.87 611.62 614.25 154567.2900 186 154567.2900 1225.87 614.04 611.83 153953.2489 187 153953.2489 1225.87 616.47 609.40 153336.7771 188 153336.7771 1225.87 618.91 606.96 152717.8652 189 152717.8652 1225.87 621.36 604.51 152096.5034 190 152096.5034 1225.87 623.82 602.05 151472.6821 191 151472.6821 1225.87 626.29 599.58 150846.3915 192 150846.3915 1225.87 628.77 597.10 150217.6218 193 150217.6218 1225.87 631.26 594.61 149586.3632 194 149586.3632 1225.87 633.76 592.11 148952.6059 195 148952.6059 1225.87 636.27 589.60 148316.3399 196 148316.3399 1225.87 638.78 587.09 147677.5554 197 147677.5554 1225.87 641.31 584.56 147036.2424 198 147036.2424 1225.87 643.85 582.02 146392.3909 199 146392.3909 1225.87 646.40 579.47 145745.9908 200 145745.9908 1225.87 648.96 576.91 145097.0320 201 145097.0320 1225.87 651.53 574.34 144445.5044 202 144445.5044 1225.87 654.11 571.76 143791.3979 203 143791.3979 1225.87 656.70 569.17 143134.7021 204 143134.7021 1225.87 659.30 566.57 142475.4070 205 142475.4070 1225.87 661.90 563.97 141813.5022 206 141813.5022 1225.87 664.52 561.35 141148.9773 207 141148.9773 1225.87 667.16 558.71 140481.8220 208 140481.8220 1225.87 669.80 556.07 139812.0258 209 139812.0258 1225.87 672.45 553.42 139139.5784 210 139139.5784 1225.87 675.11 550.76 138464.4693 211 138464.4693 1225.87 677.78 548.09 137786.6878 212 137786.6878 1225.87 680.46 545.41 137106.2234 213 137106.2234 1225.87 683.16 542.71 136423.0656 214 136423.0656 1225.87 685.86 540.01 135737.2035 215 135737.2035 1225.87 688.58 537.29 135048.6266 216 135048.6266 1225.87 691.30 534.57 134357.3241 217 134357.3241 1225.87 694.04 531.83 133663.2852 218 133663.2852 1225.87 696.79 529.08 132966.4990 219 132966.4990 1225.87 699.54 526.33 132266.9548 220 132266.9548 1225.87 702.31 523.56 131564.6415 221 131564.6415 1225.87 705.09 520.78 130859.5482 222 130859.5482 1225.87 707.88 517.99 130151.6639 223 130151.6639 1225.87 710.69 515.18 129440.9775 224 129440.9775 1225.87 713.50 512.37 128727.4781 225 128727.4781 1225.87 716.32 509.55 128011.1543 226 128011.1543 1225.87 719.16 506.71 127291.9952 227 127291.9952 1225.87 722.01 503.86 126569.9893 228 126569.9893 1225.87 724.86 501.01 125845.1255 229 125845.1255 1225.87 727.73 498.14 125117.3925 230 125117.3925 1225.87 730.61 495.26 124386.7788 231 124386.7788 1225.87 733.51 492.36 123653.2732 232 123653.2732 1225.87 736.41 489.46 122916.8640 233 122916.8640 1225.87 739.32 486.55 122177.5399 234 122177.5399 1225.87 742.25 483.62 121435.2894 235 121435.2894 1225.87 745.19 480.68 120690.1007 236 120690.1007 1225.87 748.14 477.73 119941.9624 237 119941.9624 1225.87 751.10 474.77 119190.8626 238 119190.8626 1225.87 754.07 471.80 118436.7898 239 118436.7898 1225.87 757.06 468.81 117679.7321 240 117679.7321 1225.87 760.05 465.82 116919.6777 241 116919.6777 1225.87 763.06 462.81 116156.6148 242 116156.6148 1225.87 766.08 459.79 115390.5314 243 115390.5314 1225.87 769.12 456.75 114621.4156 244 114621.4156 1225.87 772.16 453.71 113849.2553 245 113849.2553 1225.87 775.22 450.65 113074.0386 246 113074.0386 1225.87 778.29 447.58 112295.7534 247 112295.7534 1225.87 781.37 444.50 111514.3874 248 111514.3874 1225.87 784.46 441.41 110729.9285 249 110729.9285 1225.87 787.56 438.31 109942.3645 250 109942.3645 1225.87 790.68 435.19 109151.6830 251 109151.6830 1225.87 793.81 432.06 108357.8717 252 108357.8717 1225.87 796.95 428.92 107560.9183 253 107560.9183 1225.87 800.11 425.76 106760.8103 254 106760.8103 1225.87 803.28 422.59 105957.5352 255 105957.5352 1225.87 806.45 419.42 105151.0804 256 105151.0804 1225.87 809.65 416.22 104341.4334 257 104341.4334 1225.87 812.85 413.02 103528.5816 258 103528.5816 1225.87 816.07 409.80 102712.5122 259 102712.5122 1225.87 819.30 406.57 101893.2126 260 101893.2126 1225.87 822.54 403.33 101070.6699 261 101070.6699 1225.87 825.80 400.07 100244.8713 262 100244.8713 1225.87 829.07 396.80 99415.8039 263 99415.8039 1225.87 832.35 393.52 98583.4548 264 98583.4548 1225.87 835.64 390.23 97747.8110 265 97747.8110 1225.87 838.95 386.92 96908.8594 266 96908.8594 1225.87 842.27 383.60 96066.5870 267 96066.5870 1225.87 845.61 380.26 95220.9805 268 95220.9805 1225.87 848.95 376.92 94372.0269 269 94372.0269 1225.87 852.31 373.56 93519.7129 270 93519.7129 1225.87 855.69 370.18 92664.0251 271 92664.0251 1225.87 859.07 366.80 91804.9502 272 91804.9502 1225.87 862.48 363.39 90942.4748 273 90942.4748 1225.87 865.89 359.98 90076.5854 274 90076.5854 1225.87 869.32 356.55 89207.2685 275 89207.2685 1225.87 872.76 353.11 88334.5106 276 88334.5106 1225.87 876.21 349.66 87458.2981 277 87458.2981 1225.87 879.68 346.19 86578.6172 278 86578.6172 1225.87 883.16 342.71 85695.4542 279 85695.4542 1225.87 886.66 339.21 84808.7954 280 84808.7954 1225.87 890.17 335.70 83918.6269 281 83918.6269 1225.87 893.69 332.18 83024.9347 282 83024.9347 1225.87 897.23 328.64 82127.7051 283 82127.7051 1225.87 900.78 325.09 81226.9239 284 81226.9239 1225.87 904.35 321.52 80322.5772 285 80322.5772 1225.87 907.93 317.94 79414.6507 286 79414.6507 1225.87 911.52 314.35 78503.1304 287 78503.1304 1225.87 915.13 310.74 77588.0019 288 77588.0019 1225.87 918.75 307.12 76669.2511 289 76669.2511 1225.87 922.39 303.48 75746.8636 290 75746.8636 1225.87 926.04 299.83 74820.8249 291 74820.8249 1225.87 929.70 296.17 73891.1207 292 73891.1207 1225.87 933.38 292.49 72957.7364 293 72957.7364 1225.87 937.08 288.79 72020.6574 294 72020.6574 1225.87 940.79 285.08 71079.8692 295 71079.8692 1225.87 944.51 281.36 70135.3570 296 70135.3570 1225.87 948.25 277.62 69187.1061 297 69187.1061 1225.87 952.00 273.87 68235.1017 298 68235.1017 1225.87 955.77 270.10 67279.3290 299 67279.3290 1225.87 959.56 266.31 66319.7730 300 66319.7730 1225.87 963.35 262.52 65356.4188 301 65356.4188 1225.87 967.17 258.70 64389.2513 302 64389.2513 1225.87 971.00 254.87 63418.2554 303 63418.2554 1225.87 974.84 251.03 62443.4160 304 62443.4160 1225.87 978.70 247.17 61464.7178 305 61464.7178 1225.87 982.57 243.30 60482.1457 306 60482.1457 1225.87 986.46 239.41 59495.6842 307 59495.6842 1225.87 990.37 235.50 58505.3179 308 58505.3179 1225.87 994.29 231.58 57511.0315 309 57511.0315 1225.87 998.22 227.65 56512.8093 310 56512.8093 1225.87 1002.17 223.70 55510.6358 311 55510.6358 1225.87 1006.14 219.73 54504.4954 312 54504.4954 1225.87 1010.12 215.75 53494.3724 313 53494.3724 1225.87 1014.12 211.75 52480.2510 314 52480.2510 1225.87 1018.14 207.73 51462.1153 315 51462.1153 1225.87 1022.17 203.70 50439.9495 316 50439.9495 1225.87 1026.21 199.66 49413.7376 317 49413.7376 1225.87 1030.27 195.60 48383.4637 318 48383.4637 1225.87 1034.35 191.52 47349.1116 319 47349.1116 1225.87 1038.45 187.42 46310.6651 320 46310.6651 1225.87 1042.56 183.31 45268.1082 321 45268.1082 1225.87 1046.68 179.19 44221.4244 322 44221.4244 1225.87 1050.83 175.04 43170.5976 323 43170.5976 1225.87 1054.99 170.88 42115.6112 324 42115.6112 1225.87 1059.16 166.71 41056.4488 325 41056.4488 1225.87 1063.35 162.52 39993.0939 326 39993.0939 1225.87 1067.56 158.31 38925.5299 327 38925.5299 1225.87 1071.79 154.08 37853.7401 328 37853.7401 1225.87 1076.03 149.84 36777.7079 329 36777.7079 1225.87 1080.29 145.58 35697.4163 330 35697.4163 1225.87 1084.57 141.30 34612.8486 331 34612.8486 1225.87 1088.86 137.01 33523.9878 332 33523.9878 1225.87 1093.17 132.70 32430.8169 333 32430.8169 1225.87 1097.50 128.37 31333.3189 334 31333.3189 1225.87 1101.84 124.03 30231.4766 335 30231.4766 1225.87 1106.20 119.67 29125.2728 336 29125.2728 1225.87 1110.58 115.29 28014.6904 337 28014.6904 1225.87 1114.98 110.89 26899.7119 338 26899.7119 1225.87 1119.39 106.48 25780.3199 339 25780.3199 1225.87 1123.82 102.05 24656.4970 340 24656.4970 1225.87 1128.27 97.60 23528.2256 341 23528.2256 1225.87 1132.74 93.13 22395.4882 342 22395.4882 1225.87 1137.22 88.65 21258.2670 343 21258.2670 1225.87 1141.72 84.15 20116.5443 344 20116.5443 1225.87 1146.24 79.63 18970.3023 345 18970.3023 1225.87 1150.78 75.09 17819.5231 346 17819.5231 1225.87 1155.33 70.54 16664.1887 347 16664.1887 1225.87 1159.91 65.96 15504.2811 348 15504.2811 1225.87 1164.50 61.37 14339.7822 349 14339.7822 1225.87 1169.11 56.76 13170.6738 350 13170.6738 1225.87 1173.74 52.13 11996.9378 351 11996.9378 1225.87 1178.38 47.49 10818.5556 352 10818.5556 1225.87 1183.05 42.82 9635.5091 353 9635.5091 1225.87 1187.73 38.14 8447.7796 354 8447.7796 1225.87 1192.43 33.44 7255.3488 355 7255.3488 1225.87 1197.15 28.72 6058.1979 356 6058.1979 1225.87 1201.89 23.98 4856.3082 357 4856.3082 1225.87 1206.65 19.22 3649.6611 358 3649.6611 1225.87 1211.42 14.45 2438.2377 359 2438.2377 1225.87 1216.22 9.65 1222.0190 360 1222.0190 1225.87 1221.03 4.84 0.9862 234999.01Related Questions
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