Background

Chapter 4 Question 10

Balance $3,996.00 at 18 yearsInterest 8 %

Question How much money would be in the account if you left the money there until your 25th birthday?NPER RATE PV

At 25 years or 7 8% -$3,996.00At 7 years later $6,848.44

Question What if you left the money until your 65th birthday?

At 65 years NPER RATE PVAt 47 years later $148,779.12 47 8% -$3,996.00

Question How much cash did you grandfather originally put in your account?

At 0 years NPER RATE PVAt -18 years earlier $1,000.00 18 8%

-£1,000.00

Your grandfather put some money in an account for you on the day you were born. You are now 18 years old and are allowed to withdraw the money for the first time. The account currently has $3996 in it and pays 8% interest rate.

Checksum0 $1,000.00 c1 $1,079.992 $1,166.393 $1,259.714 $1,360.485 $1,469.32

How much money would be in the account if you left the money there until your 25th birthday? 6 $1,586.87PMT FV 7 $1,713.82

0 8 $1,850.92£6,848.44 9 $1,998.99

10 $2,158.9111 $2,331.6312 $2,518.16

PMT FV 13 $2,719.610 14 $2,937.18

£148,779.12 15 $3,172.1516 $3,425.9317 $3,700.00

PMT FV 18 $3,996.000 $3,996.00 19 $4,315.68

20 $4,660.9321 $5,033.8122 $5,436.5123 $5,871.4324 $6,341.1525 $6,848.44 a26 $7,396.3227 $7,988.0228 $8,627.0629 $9,317.2330 $10,062.6131 $10,867.6232 $11,737.0333 $12,675.9934 $13,690.0735 $14,785.2736 $15,968.0937 $17,245.5438 $18,625.1839 $20,115.2040 $21,724.4241 $23,462.3742 $25,339.3643 $27,366.5144 $29,555.8345 $31,920.2946 $34,473.9247 $37,231.83

Your grandfather put some money in an account for you on the day you were born. You are now 18 years old and are allowed to withdraw the money for the first time. The account currently has $3996 in it and pays

48 $40,210.3849 $43,427.2150 $46,901.3851 $50,653.4952 $54,705.7753 $59,082.2454 $63,808.8155 $68,913.5256 $74,426.6057 $80,380.7358 $86,811.1959 $93,756.0860 $101,256.5761 $109,357.1062 $118,105.6663 $127,554.1264 $137,758.4565 $148,779.12 b

Background

Chapter 4 Question 13

Interest rate 5 %Payment $1,000.00

NPER RATE PV PMT FVGiven 3 5% -1000 0Solve for PV £2,723.25

NPER RATE PV PMT FVGiven 3 5% £2,723.25Solve for PMT -£3,152.50

You have a loan outstanding. It requires making three annual payments at the end of the next three years of $1000 each. Your bank has offered to allow you to skip making the next two years payments in lieu of making one large payment at the end of the loan's term in three years. If the interest rate on the loan is 5%, what final payment will the bank require you to make so that it is indifferent between the two forms of payment.

You have a loan outstanding. It requires making three annual payments at the end of the next three years of $1000 each. Your bank has offered to allow you to skip making the next two years payments in lieu of making one large payment at the end of the loan's term in three years. If the interest rate on the loan is 5%, what final payment will the bank require you to make so that it is indifferent between the

Backgroun

Chapter 4 Question 14

Year 0 1 2 10Cash Flow -10000 500 1500 10000

Question What is the NPV of the opportunity if the interest rate is 6% per year? Should you take the opportunity?

Rate 6%

Year 0 1 2 10-10000 500 1500 10000

PV -£7,390.64 -£471.70 -£1,334.99 -£5,583.95NPV -£2,609.36 Negative

Question What is the NPV of the opportunity if the interest rate is 2% per year? Should you take the opportunity?

Rate 2%

Year 0 1 2 10-10000 500 1500 10000

PV -£10,135.43 -£490.20 -£1,441.75 -£8,203.48NPV £135.43 Positive

You have been offered a unique investment opportunity. If you invest $10000 today, you will receive $500 one year from now, $1500 two years from now, and $10000 ten years from now.

What is the NPV of the opportunity if the interest rate is 6% per year? Should you take the opportunity?

What is the NPV of the opportunity if the interest rate is 2% per year? Should you take the opportunity?

You have been offered a unique investment opportunity. If you invest $10000 today, you will receive $500 one year from now, $1500 two years from now, and $10000 ten years from now.

Background

Chapter 4 Question 20

Donation -1000000 $ ('C') every 5 years Rate 8% / year5 Year Rate 46.93% / 5 years

$2,130,705.68 PV

ChecksumPV $680,583.20 5 $680,583.20 $2,129,737.07

$463,193.49 10 $1,143,776.69$315,241.70 15 $1,459,018.39$214,548.21 20 $1,673,566.60$146,017.90 25 $1,819,584.50

$99,377.33 30 $1,918,961.83$67,634.54 35 $1,986,596.38$46,030.93 40 $2,032,627.31$31,327.88 45 $2,063,955.19$21,321.23 50 $2,085,276.42$14,510.87 55 $2,099,787.29

$9,875.85 60 $2,109,663.14$6,721.34 65 $2,116,384.48$4,574.43 70 $2,120,958.92$3,113.28 75 $2,124,072.20$2,118.85 80 $2,126,191.04$1,442.05 85 $2,127,633.09

$981.44 90 $2,128,614.53$667.95 95 $2,129,282.48$454.59 100 $2,129,737.07

You are head of the Schwartz Family Endowment for the arts. You have decided to fund an arts chool in the San Francisco Bay area in perpetuity. Every five years, you will give the school $1million. The first payment will occur five years from today. If the interest rate is 8% per year, what is the present value of your gift?

0 20 40 60 80 100 120$0.00

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

Column D

Or PV £680,583.20Nper 47%

You are head of the Schwartz Family Endowment for the arts. You have decided to fund an arts chool in the San Francisco Bay area in perpetuity. Every five years, you will give the school $1million. The first payment will occur five years from today. If the

0 20 40 60 80 100 120$0.00

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

Column D

Background

Rate 6% /yearTerm 30 yearsAnnual payment 12000 $

Question You have lived in the house for 12 years (so there are 18 years left on the mortgage)

NPER RATE PV PMT FVGiven 18 6% -12000 0Solve for Rate £129,931.24

Question You have lived in the house for 20 years (so there are 10 years left on the mortgage)

NPER RATE PV PMT FVGiven 10 6% -12000 0Solve for Rate £88,321.04

Question You have lived in the house for 12 years (so there are 18 years left on the mortgage) and you decide to pay off the mortgage immediately before the twelfth payment is due

NPER RATE PV PMT FVGiven 18 6% -12000 0Solve for Rate £129,931.24

£141,931.24

When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 6% per year. The annual payment on the mortgage is $12000. You have just made a payment and have now decided to pay the mortgage off by repaying the outstanding balance. What is the payoff amount if?

You have lived in the house for 12 years (so there are 18 years left on the mortgage)

You have lived in the house for 20 years (so there are 10 years left on the mortgage)

You have lived in the house for 12 years (so there are 18 years left on the mortgage) and you decide to pay off the mortgage immediately before the twelfth payment is due

When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 6% per year. The annual payment on the mortgage is $12000. You have just made a payment and have now decided to pay the mortgage off by repaying the outstanding balance. What is the payoff

Background

NPER RATE PV PMT FVGiven 18 3% 0 -1000Solve for FV £23,414.44

ChecksumYear Deposit Balance at start Interest from previous Total after Granny's donation

1 1000 0 0 10002 1000 1000 30 20303 1000 2030 60.9 3090.94 1000 3090.9 92.727 4183.6275 1000 4183.627 125.50881 5309.135816 1000 5309.13581 159.2740743 6468.40988437 1000 6468.4098843 194.052296529 7662.4621808298 1000 7662.462180829 229.87386542487 8892.336046253879 1000 8892.336046254 266.770081387616 10159.1061276415

10 1000 10159.10612764 304.773183829245 11463.879311470711 1000 11463.87931147 343.916379344122 12807.795690814912 1000 12807.79569081 384.233870724446 14192.029561539313 1000 14192.02956154 425.760886846179 15617.790448385514 1000 15617.79044839 468.533713451564 17086.32416183715 1000 17086.32416184 512.589724855111 18598.913886692216 1000 18598.91388669 557.967416600765 20156.881303292917 1000 20156.88130329 604.706439098788 21761.587742391718 1000 21761.58774239 652.847632271751 23414.435374663519 1000 23414.43537466 702.433061239904 25116.8684359034

Your grandmother has been putting $1000 into your savings account on every birthday since your first (that is, when you turned 1). The account pays an interest rate of 3%. How much money will be in the account on your 18th birthday immediately after your grandmother makes the deposit on that birthday?

Total after Granny's donation

Your grandmother has been putting $1000 into your savings account on every birthday since your first (that is, when you turned 1). The account pays an interest rate of 3%. How much money will be in the account on your 18th birthday immediately after your

Background

Savings $1,000.00Decline -2% interest 5%

PV of perpetuity $14,285.71 at year 1

Check sumSavings PV @ 0

1 -$1,000.00 $952.38 $14,285.702 -$980.00 $888.893 -$960.40 $829.634 -$941.19 $774.325 -$922.37 $722.706 -$903.92 $674.527 -$885.84 $629.558 -$868.13 $587.589 -$850.76 $548.41

10 -$833.75 $511.8511 -$817.07 $477.7312 -$800.73 $445.8813 -$784.72 $416.1514 -$769.02 $388.4115 -$753.64 $362.5116 -$738.57 $338.3517 -$723.80 $315.7918 -$709.32 $294.7419 -$695.14 $275.0920 -$681.23 $256.7521 -$667.61 $239.6322 -$654.26 $223.6623 -$641.17 $208.7524 -$628.35 $194.8325 -$615.78 $181.8426 -$603.46 $169.7227 -$591.40 $158.4028 -$579.57 $147.8429 -$567.98 $137.9930 -$556.62 $128.7931 -$545.48 $120.2032 -$534.57 $112.1933 -$523.88 $104.7134 -$513.41 $97.7335 -$503.14 $91.2136 -$493.07 $85.1337 -$483.21 $79.4638 -$473.55 $74.1639 -$464.08 $69.2240 -$454.80 $64.6041 -$445.70 $60.30

You are thinking of building a new machine that will save you $1000 in the first year. The machine will then begin to wear out so that the savings decline at a rate of 2% per year forwever. What is the present value of the savings if the interest rate is 5% per year

42 -$436.79 $56.2843 -$428.05 $52.5244 -$419.49 $49.0245 -$411.10 $45.7546 -$402.88 $42.7047 -$394.82 $39.8648 -$386.92 $37.2049 -$379.19 $34.7250 -$371.60 $32.4151 -$364.17 $30.2452 -$356.89 $28.2353 -$349.75 $26.3554 -$342.75 $24.5955 -$335.90 $22.9556 -$329.18 $21.4257 -$322.60 $19.9958 -$316.14 $18.6659 -$309.82 $17.4260 -$303.63 $16.2561 -$297.55 $15.1762 -$291.60 $14.1663 -$285.77 $13.2264 -$280.05 $12.3365 -$274.45 $11.5166 -$268.96 $10.7467 -$263.59 $10.0368 -$258.31 $9.3669 -$253.15 $8.7470 -$248.08 $8.1571 -$243.12 $7.6172 -$238.26 $7.1073 -$233.49 $6.6374 -$228.83 $6.1975 -$224.25 $5.7776 -$219.76 $5.3977 -$215.37 $5.0378 -$211.06 $4.7079 -$206.84 $4.3880 -$202.70 $4.0981 -$198.65 $3.8282 -$194.68 $3.5683 -$190.78 $3.3384 -$186.97 $3.1085 -$183.23 $2.9086 -$179.56 $2.7087 -$175.97 $2.5288 -$172.45 $2.3689 -$169.00 $2.2090 -$165.62 $2.0591 -$162.31 $1.9192 -$159.06 $1.7993 -$155.88 $1.6794 -$152.77 $1.5695 -$149.71 $1.45

96 -$146.72 $1.3697 -$143.78 $1.2798 -$140.91 $1.1899 -$138.09 $1.10

100 -$135.33 $1.03101 -$132.62 $0.96102 -$129.97 $0.90103 -$127.37 $0.84104 -$124.82 $0.78105 -$122.32 $0.73106 -$119.88 $0.68107 -$117.48 $0.63108 -$115.13 $0.59109 -$112.83 $0.55110 -$110.57 $0.52111 -$108.36 $0.48112 -$106.19 $0.45113 -$104.07 $0.42114 -$101.99 $0.39115 -$99.95 $0.37116 -$97.95 $0.34117 -$95.99 $0.32118 -$94.07 $0.30119 -$92.19 $0.28120 -$90.34 $0.26121 -$88.54 $0.24122 -$86.77 $0.23123 -$85.03 $0.21124 -$83.33 $0.20125 -$81.66 $0.18126 -$80.03 $0.17127 -$78.43 $0.16128 -$76.86 $0.15129 -$75.32 $0.14130 -$73.82 $0.13131 -$72.34 $0.12132 -$70.90 $0.11133 -$69.48 $0.11134 -$68.09 $0.10135 -$66.73 $0.09136 -$65.39 $0.09137 -$64.08 $0.08138 -$62.80 $0.07139 -$61.55 $0.07140 -$60.31 $0.07141 -$59.11 $0.06142 -$57.93 $0.06143 -$56.77 $0.05144 -$55.63 $0.05145 -$54.52 $0.05146 -$53.43 $0.04147 -$52.36 $0.04148 -$51.31 $0.04149 -$50.29 $0.04

150 -$49.28 $0.03151 -$48.30 $0.03152 -$47.33 $0.03153 -$46.38 $0.03154 -$45.46 $0.02155 -$44.55 $0.02156 -$43.66 $0.02157 -$42.78 $0.02158 -$41.93 $0.02159 -$41.09 $0.02160 -$40.27 $0.02161 -$39.46 $0.02162 -$38.67 $0.01163 -$37.90 $0.01164 -$37.14 $0.01165 -$36.40 $0.01166 -$35.67 $0.01167 -$34.96 $0.01168 -$34.26 $0.01169 -$33.57 $0.01170 -$32.90 $0.01171 -$32.24 $0.01172 -$31.60 $0.01173 -$30.97 $0.01174 -$30.35 $0.01175 -$29.74 $0.01176 -$29.14 $0.01177 -$28.56 $0.01178 -$27.99 $0.00179 -$27.43 $0.00180 -$26.88 $0.00181 -$26.34 $0.00182 -$25.82 $0.00183 -$25.30 $0.00184 -$24.80 $0.00185 -$24.30 $0.00186 -$23.81 $0.00187 -$23.34 $0.00188 -$22.87 $0.00189 -$22.41 $0.00190 -$21.96 $0.00191 -$21.53 $0.00192 -$21.10 $0.00193 -$20.67 $0.00194 -$20.26 $0.00195 -$19.85 $0.00196 -$19.46 $0.00197 -$19.07 $0.00198 -$18.69 $0.00199 -$18.31 $0.00200 -$17.95 $0.00

You are thinking of building a new machine that will save you $1000 in the first year. The machine will then begin to wear out so that the savings decline at a rate of 2% per year forwever. What is the present

Background

20% Two years

Question Six Months

6 months 1/4 term4.664% /six months

Question One Year

12 months 1/2 term9.545% /year

Question One Month

1 months 1/24 term0.763% /month

Your bank is offering you an account that will pay 20% interest in total for a two year deposit. Determine the equivalent discount rate for a period length of

Your bank is offering you an account that will pay 20% interest in total for a two year deposit. Determine the

Background Which do you prefer: a bank account that pays 5% per year (EAR) for three years or

5% Year 1.157625

Question Six Months

2.50%6 months 1/2 year

5.06% Year Good 1.159693

Question One Year

7.50%18 months 1 1/2 year

4.94% Year Bad 1.155625

Question One Month0.1667 0.166667

0.41667000%1 months 1/12 year

5.12% Year Good 1.161474

Which do you prefer: a bank account that pays 5% per year (EAR) for three years or

Background

Career length 42 years 6% EAR 70000 $/ annum

Sabbaticals 1 every 7 years = 6 per career

Sabbatical Year PV1 7 -$46,554.002 14 -$30,961.073 21 -$20,590.884 28 -$13,694.115 35 -$9,107.376 42 -$6,056.92

$126,964.34

Many academic institutions offer a sabbatical policy. Every seven years a professor is given a year free of teaching and other administrative responsibilities at full pay. For a professor earning $70000 per year who works for a total of 42 years, what is the present value of the amount she will earn while on sabbatical if the interest rate is 6% (EAR)

Many academic institutions offer a sabbatical policy. Every seven years a professor is given a year free of teaching and other administrative responsibilities at full pay. For a professor earning $70000 per year who works for a total of 42 years, what is the present value of the amount she will earn while on

Background

Nper Rate PV PMT FV30 5.38% 150000 0

-£10,178.749

360 0.437247% 150000 0-£828.023

Oppenheimer Bank is offering a 30-year mortgage with an EAR of 5 3/8 %. If you plan to borrow $150,000, what will your monthly payment be?

Oppenheimer Bank is offering a 30-year mortgage with an EAR of 5 3/8 %. If you plan to borrow $150,000, what will your monthly

Background

Sale price 1000000 PV at 18.5 years

Term 30 YearsPayments 360Interest 5.25% APR 0.44% per month 5.38% EAR

NPER RATE PV at start PMT FVTotal mortgage 360 0.44% -800000 0

$4,417.63 NPER RATE PV today PMT FV

PV at 18.5 years 222 0.44% -800000 $4,417.63 £456,931.41

Cash £543,068.59

0.083333333333 1 -800000 -3500 -$4,417.63 -£807,917.63 Jan0.166666666667 2 -£807,917.63 -3534.6396296 -$4,417.63 -£815,869.90 Feb

0.25 3 -£815,869.90 -3569.4308075 -$4,417.63 -£823,856.96 Mar0.333333333333 4 -£823,856.96 -3604.3741969 -$4,417.63 -£831,878.96 Apr0.416666666667 5 -£831,878.96 -3639.4704636 -$4,417.63 -£839,936.06 May

0.5 6 -£839,936.06 -3674.7202764 -$4,417.63 -£848,028.41 June0.583333333333 7 -£848,028.41 -3710.1243072 -$4,417.63 -£856,156.17 July0.666666666667 8 -£856,156.17 -3745.6832306 -$4,417.63 -£864,319.48 Aug

0.75 9 -£864,319.48 -3781.3977243 -$4,417.63 -£872,518.51 Sep0.833333333333 10 -£872,518.51 -3817.268469 -$4,417.63 -£880,753.41 Oct0.916666666667 11 -£880,753.41 -3853.2961481 -$4,417.63 -£889,024.33 Nov

1 12 -£889,024.33 -3889.4814483 -$4,417.63 -£897,331.44 Dec1.083333333333 13 -£897,331.44 -3925.8250592 -$4,417.63 -£905,674.90 Jan1.166666666667 14 -£905,674.90 -3962.3276734 -$4,417.63 -£914,054.85 Feb

1.25 15 -£914,054.85 -3998.9899866 -$4,417.63 -£922,471.47 Mar1.333333333333 16 -£922,471.47 -4035.8126973 -$4,417.63 -£930,924.92 Apr1.416666666667 17 -£930,924.92 -4072.7965075 -$4,417.63 -£939,415.34 May

1.5 18 -£939,415.34 -4109.9421218 -$4,417.63 -£947,942.91 June1.583333333333 19 -£947,942.91 -4147.2502481 -$4,417.63 -£956,507.79 July1.666666666667 20 -£956,507.79 -4184.7215975 -$4,417.63 -£965,110.14 Aug

1.75 21 -£965,110.14 -4222.3568841 -$4,417.63 -£973,750.13 Sep1.833333333333 22 -£973,750.13 -4260.156825 -$4,417.63 -£982,427.92 Oct1.916666666667 23 -£982,427.92 -4298.1221407 -$4,417.63 -£991,143.67 Nov

2 24 -£991,143.67 -4336.2535547 -$4,417.63 -£999,897.55 Dec2.083333333333 25 -£999,897.55 -4374.5517935 -$4,417.63 -£1,008,689.73 Jan2.166666666667 26 ### -4413.0175872 -$4,417.63 -£1,017,520.38 Feb

2.25 27 ### -4451.6516687 -$4,417.63 -£1,026,389.66 Mar2.333333333333 28 ### -4490.4547744 -$4,417.63 -£1,035,297.75 Apr2.416666666667 29 ### -4529.4276436 -$4,417.63 -£1,044,244.80 May

2.5 30 ### -4568.5710191 -$4,417.63 -£1,053,231.00 June2.583333333333 31 ### -4607.8856469 -$4,417.63 -£1,062,256.52 July2.666666666667 32 ### -4647.3722761 -$4,417.63 -£1,071,321.52 Aug

You have just sold your house for $1000000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800000. The mortgage is currently exactly 18.5 years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage?

2.75 33 ### -4687.0316594 -$4,417.63 -£1,080,426.18 Sep2.833333333333 34 ### -4726.8645525 -$4,417.63 -£1,089,570.68 Oct2.916666666667 35 ### -4766.8717145 -$4,417.63 -£1,098,755.18 Nov

3 36 ### -4807.0539078 -$4,417.63 -£1,107,979.86 Dec3.083333333333 37 ### -4847.4118983 -$4,417.63 -£1,117,244.90 Jan3.166666666667 38 ### -4887.9464549 -$4,417.63 -£1,126,550.48 Feb

3.25 39 ### -4928.6583502 -$4,417.63 -£1,135,896.77 Mar3.333333333333 40 ### -4969.5483601 -$4,417.63 -£1,145,283.95 Apr3.416666666667 41 ### -5010.6172637 -$4,417.63 -£1,154,712.19 May

3.5 42 ### -5051.8658438 -$4,417.63 -£1,164,181.69 June3.583333333333 43 ### -5093.2948865 -$4,417.63 -£1,173,692.61 July3.666666666667 44 ### -5134.9051812 -$4,417.63 -£1,183,245.15 Aug

3.75 45 ### -5176.6975209 -$4,417.63 -£1,192,839.47 Sep3.833333333333 46 ### -5218.6727021 -$4,417.63 -£1,202,475.78 Oct3.916666666667 47 ### -5260.8315248 -$4,417.63 -£1,212,154.24 Nov

4 48 ### -5303.1747923 -$4,417.63 -£1,221,875.04 Dec4.083333333333 49 ### -5345.7033116 -$4,417.63 -£1,231,638.38 Jan4.166666666667 50 ### -5388.4178931 -$4,417.63 -£1,241,444.42 Feb

4.25 51 ### -5431.319351 -$4,417.63 -£1,251,293.37 Mar4.333333333333 52 ### -5474.4085027 -$4,417.63 -£1,261,185.41 Apr4.416666666667 53 ### -5517.6861695 -$4,417.63 -£1,271,120.73 May

4.5 54 ### -5561.1531761 -$4,417.63 -£1,281,099.51 June4.583333333333 55 ### -5604.8103508 -$4,417.63 -£1,291,121.95 July4.666666666667 56 ### -5648.6585256 -$4,417.63 -£1,301,188.24 Aug

4.75 57 ### -5692.6985363 -$4,417.63 -£1,311,298.57 Sep4.833333333333 58 ### -5736.9312219 -$4,417.63 -£1,321,453.13 Oct4.916666666667 59 ### -5781.3574256 -$4,417.63 -£1,331,652.11 Nov

5 60 ### -5825.9779939 -$4,417.63 -£1,341,895.72 Dec5.083333333333 61 ### -5870.7937772 -$4,417.63 -£1,352,184.14 Jan5.166666666667 62 ### -5915.8056296 -$4,417.63 -£1,362,517.58 Feb

5.25 63 ### -5961.0144088 -$4,417.63 -£1,372,896.22 Mar5.333333333333 64 ### -6006.4209764 -$4,417.63 -£1,383,320.27 Apr5.416666666667 65 ### -6052.0261977 -$4,417.63 -£1,393,789.93 May

5.5 66 ### -6097.8309419 -$4,417.63 -£1,404,305.39 June5.583333333333 67 ### -6143.8360819 -$4,417.63 -£1,414,866.86 July5.666666666667 68 ### -6190.0424943 -$4,417.63 -£1,425,474.53 Aug

5.75 69 ### -6236.4510598 -$4,417.63 -£1,436,128.61 Sep5.833333333333 70 ### -6283.0626627 -$4,417.63 -£1,446,829.30 Oct5.916666666667 71 ### -6329.8781915 -$4,417.63 -£1,457,576.81 Nov

6 72 ### -6376.8985381 -$4,417.63 -£1,468,371.34 Dec6.083333333333 73 ### -6424.1245988 -$4,417.63 -£1,479,213.09 Jan6.166666666667 74 ### -6471.5572735 -$4,417.63 -£1,490,102.28 Feb

6.25 75 ### -6519.1974662 -$4,417.63 -£1,501,039.11 Mar6.333333333333 76 ### -6567.0460846 -$4,417.63 -£1,512,023.78 Apr6.416666666667 77 ### -6615.1040408 -$4,417.63 -£1,523,056.51 May

6.5 78 ### -6663.3722506 -$4,417.63 -£1,534,137.52 June6.583333333333 79 ### -6711.8516338 -$4,417.63 -£1,545,267.00 July6.666666666667 80 ### -6760.5431142 -$4,417.63 -£1,556,445.17 Aug

6.75 81 ### -6809.4476199 -$4,417.63 -£1,567,672.25 Sep6.833333333333 82 ### -6858.5660828 -$4,417.63 -£1,578,948.44 Oct6.916666666667 83 ### -6907.899439 -$4,417.63 -£1,590,273.97 Nov

7 84 ### -6957.4486287 -$4,417.63 -£1,601,649.05 Dec7.083333333333 85 ### -7007.214596 -$4,417.63 -£1,613,073.89 Jan7.166666666667 86 ### -7057.1982894 -$4,417.63 -£1,624,548.72 Feb

7.25 87 ### -7107.4006615 -$4,417.63 -£1,636,073.75 Mar7.333333333333 88 ### -7157.822669 -$4,417.63 -£1,647,649.21 Apr7.416666666667 89 ### -7208.4652727 -$4,417.63 -£1,659,275.30 May

7.5 90 ### -7259.3294379 -$4,417.63 -£1,670,952.26 June7.583333333333 91 ### -7310.4161337 -$4,417.63 -£1,682,680.30 July7.666666666667 92 ### -7361.7263339 -$4,417.63 -£1,694,459.66 Aug

7.75 93 ### -7413.2610162 -$4,417.63 -£1,706,290.55 Sep7.833333333333 94 ### -7465.0211627 -$4,417.63 -£1,718,173.20 Oct7.916666666667 95 ### -7517.0077599 -$4,417.63 -£1,730,107.84 Nov

8 96 ### -7569.2217984 -$4,417.63 -£1,742,094.69 Dec8.083333333333 97 ### -7621.6642733 -$4,417.63 -£1,754,133.98 Jan8.166666666667 98 ### -7674.3361841 -$4,417.63 -£1,766,225.95 Feb

8.25 99 ### -7727.2385345 -$4,417.63 -£1,778,370.82 Mar8.333333333333 100 ### -7780.3723326 -$4,417.63 -£1,790,568.82 Apr8.416666666667 101 ### -7833.7385912 -$4,417.63 -£1,802,820.19 May

8.5 102 ### -7887.3383271 -$4,417.63 -£1,815,125.16 June8.583333333333 103 ### -7941.1725618 -$4,417.63 -£1,827,483.96 July8.666666666667 104 ### -7995.2423214 -$4,417.63 -£1,839,896.83 Aug

8.75 105 ### -8049.5486361 -$4,417.63 -£1,852,364.01 Sep8.833333333333 106 ### -8104.092541 -$4,417.63 -£1,864,885.73 Oct8.916666666667 107 ### -8158.8750754 -$4,417.63 -£1,877,462.24 Nov

9 108 ### -8213.8972834 -$4,417.63 -£1,890,093.76 Dec9.083333333333 109 ### -8269.1602136 -$4,417.63 -£1,902,780.55 Jan9.166666666667 110 ### -8324.6649191 -$4,417.63 -£1,915,522.85 Feb

9.25 111 ### -8380.4124577 -$4,417.63 -£1,928,320.89 Mar9.333333333333 112 ### -8436.4038918 -$4,417.63 -£1,941,174.92 Apr9.416666666667 113 ### -8492.6402884 -$4,417.63 -£1,954,085.19 May

9.5 114 ### -8549.1227192 -$4,417.63 -£1,967,051.95 June9.583333333333 115 ### -8605.8522607 -$4,417.63 -£1,980,075.43 July9.666666666667 116 ### -8662.8299939 -$4,417.63 -£1,993,155.89 Aug

9.75 117 ### -8720.0570047 -$4,417.63 -£2,006,293.57 Sep9.833333333333 118 ### -8777.5343837 -$4,417.63 -£2,019,488.74 Oct9.916666666667 119 ### -8835.2632262 -$4,417.63 -£2,032,741.63 Nov

10 120 ### -8893.2446324 -$4,417.63 -£2,046,052.50 Dec10.08333333333 121 ### -8951.4797072 -$4,417.63 -£2,059,421.61 Jan10.16666666667 122 ### -9009.9695605 -$4,417.63 -£2,072,849.21 Feb

10.25 123 ### -9068.7153069 -$4,417.63 -£2,086,335.56 Mar10.33333333333 124 ### -9127.718066 -$4,417.63 -£2,099,880.91 Apr10.41666666667 125 ### -9186.9789621 -$4,417.63 -£2,113,485.51 May

10.5 126 ### -9246.4991246 -$4,417.63 -£2,127,149.64 June10.58333333333 127 ### -9306.2796879 -$4,417.63 -£2,140,873.55 July10.66666666667 128 ### -9366.3217911 -$4,417.63 -£2,154,657.50 Aug

10.75 129 ### -9426.6265785 -$4,417.63 -£2,168,501.76 Sep10.83333333333 130 ### -9487.1951993 -$4,417.63 -£2,182,406.58 Oct10.91666666667 131 ### -9548.0288079 -$4,417.63 -£2,196,372.24 Nov

11 132 ### -9609.1285635 -$4,417.63 -£2,210,399.00 Dec11.08333333333 133 ### -9670.4956306 -$4,417.63 -£2,224,487.13 Jan11.16666666667 134 ### -9732.1311785 -$4,417.63 -£2,238,636.89 Feb

11.25 135 ### -9794.036382 -$4,417.63 -£2,252,848.55 Mar11.33333333333 136 ### -9856.2124208 -$4,417.63 -£2,267,122.40 Apr11.41666666667 137 ### -9918.6604797 -$4,417.63 -£2,281,458.69 May

11.5 138 ### -9981.3817488 -$4,417.63 -£2,295,857.70 June11.58333333333 139 ### -10044.377424 -$4,417.63 -£2,310,319.70 July11.66666666667 140 ### -10107.648704 -$4,417.63 -£2,324,844.98 Aug

11.75 141 ### -10171.196797 -$4,417.63 -£2,339,433.81 Sep11.83333333333 142 ### -10235.022913 -$4,417.63 -£2,354,086.46 Oct11.91666666667 143 ### -10299.128267 -$4,417.63 -£2,368,803.22 Nov

12 144 ### -10363.514083 -$4,417.63 -£2,383,584.36 Dec12.08333333333 145 ### -10428.181587 -$4,417.63 -£2,398,430.17 Jan12.16666666667 146 ### -10493.132011 -$4,417.63 -£2,413,340.94 Feb

12.25 147 ### -10558.366593 -$4,417.63 -£2,428,316.93 Mar12.33333333333 148 ### -10623.886576 -$4,417.63 -£2,443,358.45 Apr12.41666666667 149 ### -10689.69321 -$4,417.63 -£2,458,465.77 May

12.5 150 ### -10755.787747 -$4,417.63 -£2,473,639.19 June12.58333333333 151 ### -10822.171448 -$4,417.63 -£2,488,878.99 July12.66666666667 152 ### -10888.845578 -$4,417.63 -£2,504,185.46 Aug

12.75 153 ### -10955.811407 -$4,417.63 -£2,519,558.91 Sep12.83333333333 154 ### -11023.070211 -$4,417.63 -£2,534,999.61 Oct12.91666666667 155 ### -11090.623273 -$4,417.63 -£2,550,507.86 Nov

13 156 ### -11158.471879 -$4,417.63 -£2,566,083.96 Dec13.08333333333 157 ### -11226.617323 -$4,417.63 -£2,581,728.21 Jan13.16666666667 158 ### -11295.060904 -$4,417.63 -£2,597,440.90 Feb

13.25 159 ### -11363.803925 -$4,417.63 -£2,613,222.33 Mar13.33333333333 160 ### -11432.847697 -$4,417.63 -£2,629,072.81 Apr13.41666666667 161 ### -11502.193535 -$4,417.63 -£2,644,992.63 May

13.5 162 ### -11571.842761 -$4,417.63 -£2,660,982.10 June13.58333333333 163 ### -11641.796703 -$4,417.63 -£2,677,041.53 July13.66666666667 164 ### -11712.056693 -$4,417.63 -£2,693,171.22 Aug

13.75 165 ### -11782.62407 -$4,417.63 -£2,709,371.47 Sep13.83333333333 166 ### -11853.50018 -$4,417.63 -£2,725,642.60 Oct13.91666666667 167 ### -11924.686373 -$4,417.63 -£2,741,984.92 Nov

14 168 ### -11996.184006 -$4,417.63 -£2,758,398.73 Dec14.08333333333 169 ### -12067.99444 -$4,417.63 -£2,774,884.35 Jan14.16666666667 170 ### -12140.119046 -$4,417.63 -£2,791,442.10 Feb

14.25 171 ### -12212.559196 -$4,417.63 -£2,808,072.29 Mar14.33333333333 172 ### -12285.316272 -$4,417.63 -£2,824,775.24 Apr14.41666666667 173 ### -12358.39166 -$4,417.63 -£2,841,551.26 May

14.5 174 ### -12431.786753 -$4,417.63 -£2,858,400.67 June14.58333333333 175 ### -12505.50295 -$4,417.63 -£2,875,323.81 July14.66666666667 176 ### -12579.541655 -$4,417.63 -£2,892,320.98 Aug

14.75 177 ### -12653.904279 -$4,417.63 -£2,909,392.51 Sep14.83333333333 178 ### -12728.59224 -$4,417.63 -£2,926,538.73 Oct14.91666666667 179 ### -12803.606961 -$4,417.63 -£2,943,759.97 Nov

15 180 ### -12878.949871 -$4,417.63 -£2,961,056.55 Dec15.08333333333 181 ### -12954.622406 -$4,417.63 -£2,978,428.80 Jan15.16666666667 182 ### -13030.626009 -$4,417.63 -£2,995,877.06 Feb

15.25 183 ### -13106.962127 -$4,417.63 -£3,013,401.65 Mar15.33333333333 184 ### -13183.632216 -$4,417.63 -£3,031,002.91 Apr15.41666666667 185 ### -13260.637736 -$4,417.63 -£3,048,681.18 May

15.5 186 ### -13337.980156 -$4,417.63 -£3,066,436.79 June15.58333333333 187 ### -13415.660949 -$4,417.63 -£3,084,270.08 July15.66666666667 188 ### -13493.681595 -$4,417.63 -£3,102,181.39 Aug

15.75 189 ### -13572.043582 -$4,417.63 -£3,120,171.06 Sep15.83333333333 190 ### -13650.748402 -$4,417.63 -£3,138,239.44 Oct15.91666666667 191 ### -13729.797556 -$4,417.63 -£3,156,386.87 Nov

16 192 ### -13809.19255 -$4,417.63 -£3,174,613.69 Dec16.08333333333 193 ### -13888.934896 -$4,417.63 -£3,192,920.26 Jan16.16666666667 194 ### -13969.026116 -$4,417.63 -£3,211,306.91 Feb

16.25 195 ### -14049.467735 -$4,417.63 -£3,229,774.01 Mar16.33333333333 196 ### -14130.261286 -$4,417.63 -£3,248,321.90 Apr16.41666666667 197 ### -14211.408309 -$4,417.63 -£3,266,950.94 May

16.5 198 ### -14292.91035 -$4,417.63 -£3,285,661.48 June16.58333333333 199 ### -14374.768962 -$4,417.63 -£3,304,453.88 July16.66666666667 200 ### -14456.985706 -$4,417.63 -£3,323,328.49 Aug

16.75 201 ### -14539.562148 -$4,417.63 -£3,342,285.68 Sep16.83333333333 202 ### -14622.499862 -$4,417.63 -£3,361,325.81 Oct16.91666666667 203 ### -14705.800428 -$4,417.63 -£3,380,449.24 Nov

17 204 ### -14789.465435 -$4,417.63 -£3,399,656.34 Dec17.08333333333 205 ### -14873.496476 -$4,417.63 -£3,418,947.46 Jan17.16666666667 206 ### -14957.895152 -$4,417.63 -£3,438,322.99 Feb

17.25 207 ### -15042.663073 -$4,417.63 -£3,457,783.28 Mar17.33333333333 208 ### -15127.801854 -$4,417.63 -£3,477,328.71 Apr17.41666666667 209 ### -15213.313116 -$4,417.63 -£3,496,959.66 May

17.5 210 ### -15299.198491 -$4,417.63 -£3,516,676.48 June17.58333333333 211 ### -15385.459614 -$4,417.63 -£3,536,479.57 July17.66666666667 212 ### -15472.098129 -$4,417.63 -£3,556,369.30 Aug

17.75 213 ### -15559.115688 -$4,417.63 -£3,576,346.05 Sep17.83333333333 214 ### -15646.513949 -$4,417.63 -£3,596,410.19 Oct17.91666666667 215 ### -15734.294577 -$4,417.63 -£3,616,562.11 Nov

18 216 ### -15822.459245 -$4,417.63 -£3,636,802.20 Dec18.08333333333 217 ### -15911.009634 -$4,417.63 -£3,657,130.84 Jan18.16666666667 218 ### -15999.947431 -$4,417.63 -£3,677,548.42 Feb

18.25 219 ### -16089.27433 -$4,417.63 -£3,698,055.32 Mar18.33333333333 220 ### -16178.992035 -$4,417.63 -£3,718,651.94 Apr18.41666666667 221 ### -16269.102255 -$4,417.63 -£3,739,338.68 May

18.5 222 ### -16359.606707 -$4,417.63 -£3,760,115.91 June18.58333333333 223 ### -16450.507116 -$4,417.63 -£3,780,984.05 July18.66666666667 224 ### -16541.805214 -$4,417.63 -£3,801,943.48 Aug

18.75 225 ### -16633.502741 -$4,417.63 -£3,822,994.62 Sep18.83333333333 226 ### -16725.601445 -$4,417.63 -£3,844,137.85 Oct18.91666666667 227 ### -16818.103081 -$4,417.63 -£3,865,373.58 Nov

19 228 ### -16911.009412 -$4,417.63 -£3,886,702.22 Dec19.08333333333 229 ### -17004.322207 -$4,417.63 -£3,908,124.17 Jan19.16666666667 230 ### -17098.043247 -$4,417.63 -£3,929,639.84 Feb

19.25 231 ### -17192.174315 -$4,417.63 -£3,951,249.65 Mar19.33333333333 232 ### -17286.717208 -$4,417.63 -£3,972,953.99 Apr19.41666666667 233 ### -17381.673725 -$4,417.63 -£3,994,753.30 May

19.5 234 ### -17477.045677 -$4,417.63 -£4,016,647.97 June19.58333333333 235 ### -17572.834882 -$4,417.63 -£4,038,638.44 July19.66666666667 236 ### -17669.043164 -$4,417.63 -£4,060,725.11 Aug

19.75 237 ### -17765.672357 -$4,417.63 -£4,082,908.41 Sep19.83333333333 238 ### -17862.724303 -$4,417.63 -£4,105,188.77 Oct19.91666666667 239 ### -17960.200852 -$4,417.63 -£4,127,566.60 Nov

20 240 ### -18058.10386 -$4,417.63 -£4,150,042.33 Dec20.08333333333 241 ### -18156.435194 -$4,417.63 -£4,172,616.39 Jan20.16666666667 242 ### -18255.196727 -$4,417.63 -£4,195,289.22 Feb

20.25 243 ### -18354.390343 -$4,417.63 -£4,218,061.24 Mar20.33333333333 244 ### -18454.01793 -$4,417.63 -£4,240,932.89 Apr20.41666666667 245 ### -18554.081388 -$4,417.63 -£4,263,904.60 May

20.5 246 ### -18654.582624 -$4,417.63 -£4,286,976.81 June20.58333333333 247 ### -18755.523552 -$4,417.63 -£4,310,149.97 July20.66666666667 248 ### -18856.906097 -$4,417.63 -£4,333,424.50 Aug

20.75 249 ### -18958.732191 -$4,417.63 -£4,356,800.86 Sep20.83333333333 250 ### -19061.003774 -$4,417.63 -£4,380,279.50 Oct20.91666666667 251 ### -19163.722795 -$4,417.63 -£4,403,860.85 Nov

21 252 ### -19266.891212 -$4,417.63 -£4,427,545.37 Dec21.08333333333 253 ### -19370.510991 -$4,417.63 -£4,451,333.51 Jan21.16666666667 254 ### -19474.584106 -$4,417.63 -£4,475,225.72 Feb

21.25 255 ### -19579.112541 -$4,417.63 -£4,499,222.47 Mar21.33333333333 256 ### -19684.098288 -$4,417.63 -£4,523,324.19 Apr21.41666666667 257 ### -19789.543347 -$4,417.63 -£4,547,531.37 May

21.5 258 ### -19895.449729 -$4,417.63 -£4,571,844.45 June21.58333333333 259 ### -20001.819451 -$4,417.63 -£4,596,263.90 July21.66666666667 260 ### -20108.654541 -$4,417.63 -£4,620,790.18 Aug

21.75 261 ### -20215.957034 -$4,417.63 -£4,645,423.77 Sep21.83333333333 262 ### -20323.728976 -$4,417.63 -£4,670,165.12 Oct21.91666666667 263 ### -20431.972419 -$4,417.63 -£4,695,014.73 Nov

22 264 ### -20540.689428 -$4,417.63 -£4,719,973.05 Dec22.08333333333 265 ### -20649.882074 -$4,417.63 -£4,745,040.56 Jan22.16666666667 266 ### -20759.552438 -$4,417.63 -£4,770,217.74 Feb

22.25 267 ### -20869.702609 -$4,417.63 -£4,795,505.07 Mar22.33333333333 268 ### -20980.334688 -$4,417.63 -£4,820,903.04 Apr22.41666666667 269 ### -21091.450782 -$4,417.63 -£4,846,412.12 May

22.5 270 ### -21203.053008 -$4,417.63 -£4,872,032.80 June22.58333333333 271 ### -21315.143495 -$4,417.63 -£4,897,765.57 July22.66666666667 272 ### -21427.724377 -$4,417.63 -£4,923,610.93 Aug

22.75 273 ### -21540.797801 -$4,417.63 -£4,949,569.35 Sep22.83333333333 274 ### -21654.365921 -$4,417.63 -£4,975,641.35 Oct22.91666666667 275 ### -21768.430901 -$4,417.63 -£5,001,827.41 Nov

23 276 ### -21882.994916 -$4,417.63 -£5,028,128.03 Dec23.08333333333 277 ### -21998.060148 -$4,417.63 -£5,054,543.72 Jan23.16666666667 278 ### -22113.628791 -$4,417.63 -£5,081,074.98 Feb

23.25 279 ### -22229.703047 -$4,417.63 -£5,107,722.31 Mar23.33333333333 280 ### -22346.285127 -$4,417.63 -£5,134,486.23 Apr23.41666666667 281 ### -22463.377254 -$4,417.63 -£5,161,367.24 May

23.5 282 ### -22580.981659 -$4,417.63 -£5,188,365.85 June23.58333333333 283 ### -22699.100584 -$4,417.63 -£5,215,482.58 July23.66666666667 284 ### -22817.736278 -$4,417.63 -£5,242,717.94 Aug

23.75 285 ### -22936.891004 -$4,417.63 -£5,270,072.46 Sep23.83333333333 286 ### -23056.567032 -$4,417.63 -£5,297,546.66 Oct23.91666666667 287 ### -23176.766642 -$4,417.63 -£5,325,141.06 Nov

24 288 ### -23297.492126 -$4,417.63 -£5,352,856.18 Dec24.08333333333 289 ### -23418.745783 -$4,417.63 -£5,380,692.55 Jan24.16666666667 290 ### -23540.529926 -$4,417.63 -£5,408,650.71 Feb

24.25 291 ### -23662.846874 -$4,417.63 -£5,436,731.19 Mar24.33333333333 292 ### -23785.698958 -$4,417.63 -£5,464,934.52 Apr24.41666666667 293 ### -23909.088521 -$4,417.63 -£5,493,261.24 May

24.5 294 ### -24033.017913 -$4,417.63 -£5,521,711.88 June24.58333333333 295 ### -24157.489496 -$4,417.63 -£5,550,287.00 July24.66666666667 296 ### -24282.505642 -$4,417.63 -£5,578,987.14 Aug

24.75 297 ### -24408.068734 -$4,417.63 -£5,607,812.84 Sep24.83333333333 298 ### -24534.181164 -$4,417.63 -£5,636,764.65 Oct24.91666666667 299 ### -24660.845336 -$4,417.63 -£5,665,843.12 Nov

25 300 ### -24788.063664 -$4,417.63 -£5,695,048.82 Dec25.08333333333 301 ### -24915.838572 -$4,417.63 -£5,724,382.28 Jan25.16666666667 302 ### -25044.172495 -$4,417.63 -£5,753,844.09 Feb

25.25 303 ### -25173.06788 -$4,417.63 -£5,783,434.78 Mar25.33333333333 304 ### -25302.527181 -$4,417.63 -£5,813,154.94 Apr25.41666666667 305 ### -25432.552867 -$4,417.63 -£5,843,005.12 May

25.5 306 ### -25563.147415 -$4,417.63 -£5,872,985.90 June25.58333333333 307 ### -25694.313315 -$4,417.63 -£5,903,097.84 July25.66666666667 308 ### -25826.053065 -$4,417.63 -£5,933,341.53 Aug

25.75 309 ### -25958.369177 -$4,417.63 -£5,963,717.52 Sep25.83333333333 310 ### -26091.264172 -$4,417.63 -£5,994,226.42 Oct25.91666666667 311 ### -26224.740582 -$4,417.63 -£6,024,868.79 Nov

26 312 ### -26358.800952 -$4,417.63 -£6,055,645.22 Dec26.08333333333 313 ### -26493.447835 -$4,417.63 -£6,086,556.30 Jan26.16666666667 314 ### -26628.683799 -$4,417.63 -£6,117,602.61 Feb

26.25 315 ### -26764.511421 -$4,417.63 -£6,148,784.75 Mar26.33333333333 316 ### -26900.933288 -$4,417.63 -£6,180,103.31 Apr26.41666666667 317 ### -27037.952 -$4,417.63 -£6,211,558.90 May

26.5 318 ### -27175.57017 -$4,417.63 -£6,243,152.10 June26.58333333333 319 ### -27313.790419 -$4,417.63 -£6,274,883.52 July26.66666666667 320 ### -27452.615382 -$4,417.63 -£6,306,753.76 Aug

26.75 321 ### -27592.047703 -$4,417.63 -£6,338,763.44 Sep26.83333333333 322 ### -27732.090042 -$4,417.63 -£6,370,913.16 Oct26.91666666667 323 ### -27872.745065 -$4,417.63 -£6,403,203.53 Nov

27 324 ### -28014.015454 -$4,417.63 -£6,435,635.18 Dec27.08333333333 325 ### -28155.903902 -$4,417.63 -£6,468,208.71 Jan27.16666666667 326 ### -28298.413111 -$4,417.63 -£6,500,924.75 Feb

27.25 327 ### -28441.545798 -$4,417.63 -£6,533,783.93 Mar27.33333333333 328 ### -28585.30469 -$4,417.63 -£6,566,786.86 Apr27.41666666667 329 ### -28729.692528 -$4,417.63 -£6,599,934.19 May

27.5 330 ### -28874.712062 -$4,417.63 -£6,633,226.53 June27.58333333333 331 ### -29020.366057 -$4,417.63 -£6,666,664.52 July27.66666666667 332 ### -29166.657288 -$4,417.63 -£6,700,248.81 Aug

27.75 333 ### -29313.588543 -$4,417.63 -£6,733,980.03 Sep27.83333333333 334 ### -29461.162623 -$4,417.63 -£6,767,858.82 Oct27.91666666667 335 ### -29609.382339 -$4,417.63 -£6,801,885.83 Nov

28 336 ### -29758.250516 -$4,417.63 -£6,836,061.71 Dec28.08333333333 337 ### -29907.769992 -$4,417.63 -£6,870,387.11 Jan28.16666666667 338 ### -30057.943615 -$4,417.63 -£6,904,862.69 Feb

28.25 339 ### -30208.774248 -$4,417.63 -£6,939,489.09 Mar28.33333333333 340 ### -30360.264765 -$4,417.63 -£6,974,266.98 Apr28.41666666667 341 ### -30512.418053 -$4,417.63 -£7,009,197.03 May

28.5 342 ### -30665.237011 -$4,417.63 -£7,044,279.90 June28.58333333333 343 ### -30818.724553 -$4,417.63 -£7,079,516.25 July28.66666666667 344 ### -30972.883602 -$4,417.63 -£7,114,906.77 Aug

28.75 345 ### -31127.717098 -$4,417.63 -£7,150,452.11 Sep28.83333333333 346 ### -31283.227989 -$4,417.63 -£7,186,152.97 Oct28.91666666667 347 ### -31439.419241 -$4,417.63 -£7,222,010.02 Nov

29 348 ### -31596.29383 -$4,417.63 -£7,258,023.94 Dec29.08333333333 349 ### -31753.854745 -$4,417.63 -£7,294,195.43 Jan29.16666666667 350 ### -31912.104989 -$4,417.63 -£7,330,525.16 Feb

29.25 351 ### -32071.047578 -$4,417.63 -£7,367,013.84 Mar29.33333333333 352 ### -32230.685541 -$4,417.63 -£7,403,662.15 Apr29.41666666667 353 ### -32391.02192 -$4,417.63 -£7,440,470.80 May

29.5 354 ### -32552.05977 -$4,417.63 -£7,477,440.49 June29.58333333333 355 ### -32713.802161 -$4,417.63 -£7,514,571.93 July29.66666666667 356 ### -32876.252175 -$4,417.63 -£7,551,865.81 Aug

29.75 357 ### -33039.412908 -$4,417.63 -£7,589,322.85 Sep29.83333333333 358 ### -33203.287469 -$4,417.63 -£7,626,943.77 Oct29.91666666667 359 ### -33367.878982 -$4,417.63 -£7,664,729.28 Nov

30 360 ### -33533.190582 -$4,417.63 -£7,702,680.10 Dec

You have just sold your house for $1000000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800000. The mortgage is currently exactly 18.5 years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you

###

Background

Total 500000APR 6% or 0.50% /month or 6.17%Term 30 years 360 periods

RATE NPER PV PMT FV0.50% 360 500000 0

-$2,997.75

Question How much will you pay in interest, and how much will you pay in principal, during the first year?

RATE NPER PV PMT FV0.50% 12 500000 -$2,997.75

-£493,859.94Principal £6,140.06Interest -£29,832.97

Question How much will you pay in interest, and how much will you pay in principal, during the 20th year (i.e. between 19 and 20 years from now)

RATE NPER PV PMT FV0.50% 228 500000 -$2,997.75

-£289,162.02

RATE NPER PV PMT FV0.50% 240 500000 -$2,997.75

-£270,017.93

Principal £19,144.08Interest -£16,828.95

Payments $0.00 Interest

ChecksumInterest Payment Balance Year

1 500000 $2,500.00 -$2,997.75 $499,502.25 0.083333333 Jan2 $499,502.25 $2,497.51 -$2,997.75 $499,002.01 0.166666667 Feb3 $499,002.01 $2,495.01 -$2,997.75 $498,499.26 0.25 Mar4 $498,499.26 $2,492.50 -$2,997.75 $497,994.01 0.333333333 Apr5 $497,994.01 $2,489.97 -$2,997.75 $497,486.22 0.416666667 May6 $497,486.22 $2,487.43 -$2,997.75 $496,975.90 0.5 June7 $496,975.90 $2,484.88 -$2,997.75 $496,463.03 0.583333333 July8 $496,463.03 $2,482.32 -$2,997.75 $495,947.59 0.666666667 Aug9 $495,947.59 $2,479.74 -$2,997.75 $495,429.58 0.75 Sep

10 $495,429.58 $2,477.15 -$2,997.75 $494,908.97 0.833333333 Oct11 $494,908.97 $2,474.54 -$2,997.75 $494,385.77 0.916666667 Nov12 $494,385.77 $2,471.93 -$2,997.75 $493,859.94 1 Dec13 $493,859.94 $2,469.30 -$2,997.75 $493,331.49 1.08333333314 $493,331.49 $2,466.66 -$2,997.75 $492,800.39 1.166666667

You have just purchased your home and taken out a $500000 mortgage. The mortgage has a 30-year term with monthly payments and an APR of 6%.

15 $492,800.39 $2,464.00 -$2,997.75 $492,266.64 1.2516 $492,266.64 $2,461.33 -$2,997.75 $491,730.22 1.33333333317 $491,730.22 $2,458.65 -$2,997.75 $491,191.12 1.41666666718 $491,191.12 $2,455.96 -$2,997.75 $490,649.32 1.519 $490,649.32 $2,453.25 -$2,997.75 $490,104.82 1.58333333320 $490,104.82 $2,450.52 -$2,997.75 $489,557.59 1.66666666721 $489,557.59 $2,447.79 -$2,997.75 $489,007.63 1.7522 $489,007.63 $2,445.04 -$2,997.75 $488,454.91 1.83333333323 $488,454.91 $2,442.27 -$2,997.75 $487,899.43 1.91666666724 $487,899.43 $2,439.50 -$2,997.75 $487,341.18 225 $487,341.18 $2,436.71 -$2,997.75 $486,780.13 2.08333333326 $486,780.13 $2,433.90 -$2,997.75 $486,216.28 2.16666666727 $486,216.28 $2,431.08 -$2,997.75 $485,649.61 2.2528 $485,649.61 $2,428.25 -$2,997.75 $485,080.10 2.33333333329 $485,080.10 $2,425.40 -$2,997.75 $484,507.75 2.41666666730 $484,507.75 $2,422.54 -$2,997.75 $483,932.54 2.531 $483,932.54 $2,419.66 -$2,997.75 $483,354.45 2.58333333332 $483,354.45 $2,416.77 -$2,997.75 $482,773.47 2.66666666733 $482,773.47 $2,413.87 -$2,997.75 $482,189.58 2.7534 $482,189.58 $2,410.95 -$2,997.75 $481,602.78 2.83333333335 $481,602.78 $2,408.01 -$2,997.75 $481,013.04 2.91666666736 $481,013.04 $2,405.07 -$2,997.75 $480,420.35 337 $480,420.35 $2,402.10 -$2,997.75 $479,824.70 3.08333333338 $479,824.70 $2,399.12 -$2,997.75 $479,226.07 3.16666666739 $479,226.07 $2,396.13 -$2,997.75 $478,624.45 3.2540 $478,624.45 $2,393.12 -$2,997.75 $478,019.82 3.33333333341 $478,019.82 $2,390.10 -$2,997.75 $477,412.16 3.41666666742 $477,412.16 $2,387.06 -$2,997.75 $476,801.47 3.543 $476,801.47 $2,384.01 -$2,997.75 $476,187.73 3.58333333344 $476,187.73 $2,380.94 -$2,997.75 $475,570.91 3.66666666745 $475,570.91 $2,377.85 -$2,997.75 $474,951.02 3.7546 $474,951.02 $2,374.76 -$2,997.75 $474,328.02 3.83333333347 $474,328.02 $2,371.64 -$2,997.75 $473,701.91 3.91666666748 $473,701.91 $2,368.51 -$2,997.75 $473,072.66 449 $473,072.66 $2,365.36 -$2,997.75 $472,440.27 4.08333333350 $472,440.27 $2,362.20 -$2,997.75 $471,804.72 4.16666666751 $471,804.72 $2,359.02 -$2,997.75 $471,165.99 4.2552 $471,165.99 $2,355.83 -$2,997.75 $470,524.07 4.33333333353 $470,524.07 $2,352.62 -$2,997.75 $469,878.94 4.41666666754 $469,878.94 $2,349.39 -$2,997.75 $469,230.58 4.555 $469,230.58 $2,346.15 -$2,997.75 $468,578.98 4.58333333356 $468,578.98 $2,342.89 -$2,997.75 $467,924.12 4.66666666757 $467,924.12 $2,339.62 -$2,997.75 $467,265.99 4.7558 $467,265.99 $2,336.33 -$2,997.75 $466,604.57 4.83333333359 $466,604.57 $2,333.02 -$2,997.75 $465,939.84 4.91666666760 $465,939.84 $2,329.70 -$2,997.75 $465,271.78 561 $465,271.78 $2,326.36 -$2,997.75 $464,600.39 5.08333333362 $464,600.39 $2,323.00 -$2,997.75 $463,925.64 5.16666666763 $463,925.64 $2,319.63 -$2,997.75 $463,247.52 5.2564 $463,247.52 $2,316.24 -$2,997.75 $462,566.00 5.33333333365 $462,566.00 $2,312.83 -$2,997.75 $461,881.08 5.41666666766 $461,881.08 $2,309.41 -$2,997.75 $461,192.73 5.567 $461,192.73 $2,305.96 -$2,997.75 $460,500.94 5.58333333368 $460,500.94 $2,302.50 -$2,997.75 $459,805.69 5.666666667

69 $459,805.69 $2,299.03 -$2,997.75 $459,106.97 5.7570 $459,106.97 $2,295.53 -$2,997.75 $458,404.75 5.83333333371 $458,404.75 $2,292.02 -$2,997.75 $457,699.02 5.91666666772 $457,699.02 $2,288.50 -$2,997.75 $456,989.77 673 $456,989.77 $2,284.95 -$2,997.75 $456,276.96 6.08333333374 $456,276.96 $2,281.38 -$2,997.75 $455,560.59 6.16666666775 $455,560.59 $2,277.80 -$2,997.75 $454,840.64 6.2576 $454,840.64 $2,274.20 -$2,997.75 $454,117.09 6.33333333377 $454,117.09 $2,270.59 -$2,997.75 $453,389.93 6.41666666778 $453,389.93 $2,266.95 -$2,997.75 $452,659.12 6.579 $452,659.12 $2,263.30 -$2,997.75 $451,924.67 6.58333333380 $451,924.67 $2,259.62 -$2,997.75 $451,186.54 6.66666666781 $451,186.54 $2,255.93 -$2,997.75 $450,444.72 6.7582 $450,444.72 $2,252.22 -$2,997.75 $449,699.19 6.83333333383 $449,699.19 $2,248.50 -$2,997.75 $448,949.93 6.91666666784 $448,949.93 $2,244.75 -$2,997.75 $448,196.93 785 $448,196.93 $2,240.98 -$2,997.75 $447,440.16 7.08333333386 $447,440.16 $2,237.20 -$2,997.75 $446,679.61 7.16666666787 $446,679.61 $2,233.40 -$2,997.75 $445,915.26 7.2588 $445,915.26 $2,229.58 -$2,997.75 $445,147.08 7.33333333389 $445,147.08 $2,225.74 -$2,997.75 $444,375.06 7.41666666790 $444,375.06 $2,221.88 -$2,997.75 $443,599.18 7.591 $443,599.18 $2,218.00 -$2,997.75 $442,819.43 7.58333333392 $442,819.43 $2,214.10 -$2,997.75 $442,035.77 7.66666666793 $442,035.77 $2,210.18 -$2,997.75 $441,248.20 7.7594 $441,248.20 $2,206.24 -$2,997.75 $440,456.69 7.83333333395 $440,456.69 $2,202.28 -$2,997.75 $439,661.22 7.91666666796 $439,661.22 $2,198.31 -$2,997.75 $438,861.77 897 $438,861.77 $2,194.31 -$2,997.75 $438,058.33 8.08333333398 $438,058.33 $2,190.29 -$2,997.75 $437,250.87 8.16666666799 $437,250.87 $2,186.25 -$2,997.75 $436,439.37 8.25

100 $436,439.37 $2,182.20 -$2,997.75 $435,623.81 8.333333333101 $435,623.81 $2,178.12 -$2,997.75 $434,804.18 8.416666667102 $434,804.18 $2,174.02 -$2,997.75 $433,980.45 8.5103 $433,980.45 $2,169.90 -$2,997.75 $433,152.60 8.583333333104 $433,152.60 $2,165.76 -$2,997.75 $432,320.61 8.666666667105 $432,320.61 $2,161.60 -$2,997.75 $431,484.46 8.75106 $431,484.46 $2,157.42 -$2,997.75 $430,644.13 8.833333333107 $430,644.13 $2,153.22 -$2,997.75 $429,799.59 8.916666667108 $429,799.59 $2,149.00 -$2,997.75 $428,950.84 9109 $428,950.84 $2,144.75 -$2,997.75 $428,097.84 9.083333333110 $428,097.84 $2,140.49 -$2,997.75 $427,240.58 9.166666667111 $427,240.58 $2,136.20 -$2,997.75 $426,379.03 9.25112 $426,379.03 $2,131.90 -$2,997.75 $425,513.17 9.333333333113 $425,513.17 $2,127.57 -$2,997.75 $424,642.98 9.416666667114 $424,642.98 $2,123.21 -$2,997.75 $423,768.45 9.5115 $423,768.45 $2,118.84 -$2,997.75 $422,889.54 9.583333333116 $422,889.54 $2,114.45 -$2,997.75 $422,006.23 9.666666667117 $422,006.23 $2,110.03 -$2,997.75 $421,118.51 9.75118 $421,118.51 $2,105.59 -$2,997.75 $420,226.35 9.833333333119 $420,226.35 $2,101.13 -$2,997.75 $419,329.73 9.916666667120 $419,329.73 $2,096.65 -$2,997.75 $418,428.62 10121 $418,428.62 $2,092.14 -$2,997.75 $417,523.02 10.08333333122 $417,523.02 $2,087.62 -$2,997.75 $416,612.88 10.16666667

123 $416,612.88 $2,083.06 -$2,997.75 $415,698.19 10.25124 $415,698.19 $2,078.49 -$2,997.75 $414,778.93 10.33333333125 $414,778.93 $2,073.89 -$2,997.75 $413,855.07 10.41666667126 $413,855.07 $2,069.28 -$2,997.75 $412,926.59 10.5127 $412,926.59 $2,064.63 -$2,997.75 $411,993.47 10.58333333128 $411,993.47 $2,059.97 -$2,997.75 $411,055.69 10.66666667129 $411,055.69 $2,055.28 -$2,997.75 $410,113.21 10.75130 $410,113.21 $2,050.57 -$2,997.75 $409,166.03 10.83333333131 $409,166.03 $2,045.83 -$2,997.75 $408,214.10 10.91666667132 $408,214.10 $2,041.07 -$2,997.75 $407,257.42 11133 $407,257.42 $2,036.29 -$2,997.75 $406,295.96 11.08333333134 $406,295.96 $2,031.48 -$2,997.75 $405,329.68 11.16666667135 $405,329.68 $2,026.65 -$2,997.75 $404,358.58 11.25136 $404,358.58 $2,021.79 -$2,997.75 $403,382.62 11.33333333137 $403,382.62 $2,016.91 -$2,997.75 $402,401.78 11.41666667138 $402,401.78 $2,012.01 -$2,997.75 $401,416.04 11.5139 $401,416.04 $2,007.08 -$2,997.75 $400,425.36 11.58333333140 $400,425.36 $2,002.13 -$2,997.75 $399,429.74 11.66666667141 $399,429.74 $1,997.15 -$2,997.75 $398,429.13 11.75142 $398,429.13 $1,992.15 -$2,997.75 $397,423.53 11.83333333143 $397,423.53 $1,987.12 -$2,997.75 $396,412.89 11.91666667144 $396,412.89 $1,982.06 -$2,997.75 $395,397.20 12145 $395,397.20 $1,976.99 -$2,997.75 $394,376.44 12.08333333146 $394,376.44 $1,971.88 -$2,997.75 $393,350.57 12.16666667147 $393,350.57 $1,966.75 -$2,997.75 $392,319.57 12.25148 $392,319.57 $1,961.60 -$2,997.75 $391,283.41 12.33333333149 $391,283.41 $1,956.42 -$2,997.75 $390,242.08 12.41666667150 $390,242.08 $1,951.21 -$2,997.75 $389,195.54 12.5151 $389,195.54 $1,945.98 -$2,997.75 $388,143.76 12.58333333152 $388,143.76 $1,940.72 -$2,997.75 $387,086.73 12.66666667153 $387,086.73 $1,935.43 -$2,997.75 $386,024.41 12.75154 $386,024.41 $1,930.12 -$2,997.75 $384,956.78 12.83333333155 $384,956.78 $1,924.78 -$2,997.75 $383,883.81 12.91666667156 $383,883.81 $1,919.42 -$2,997.75 $382,805.47 13157 $382,805.47 $1,914.03 -$2,997.75 $381,721.75 13.08333333158 $381,721.75 $1,908.61 -$2,997.75 $380,632.61 13.16666667159 $380,632.61 $1,903.16 -$2,997.75 $379,538.02 13.25160 $379,538.02 $1,897.69 -$2,997.75 $378,437.95 13.33333333161 $378,437.95 $1,892.19 -$2,997.75 $377,332.39 13.41666667162 $377,332.39 $1,886.66 -$2,997.75 $376,221.30 13.5163 $376,221.30 $1,881.11 -$2,997.75 $375,104.65 13.58333333164 $375,104.65 $1,875.52 -$2,997.75 $373,982.42 13.66666667165 $373,982.42 $1,869.91 -$2,997.75 $372,854.58 13.75166 $372,854.58 $1,864.27 -$2,997.75 $371,721.10 13.83333333167 $371,721.10 $1,858.61 -$2,997.75 $370,581.96 13.91666667168 $370,581.96 $1,852.91 -$2,997.75 $369,437.11 14169 $369,437.11 $1,847.19 -$2,997.75 $368,286.55 14.08333333170 $368,286.55 $1,841.43 -$2,997.75 $367,130.23 14.16666667171 $367,130.23 $1,835.65 -$2,997.75 $365,968.13 14.25172 $365,968.13 $1,829.84 -$2,997.75 $364,800.21 14.33333333173 $364,800.21 $1,824.00 -$2,997.75 $363,626.46 14.41666667174 $363,626.46 $1,818.13 -$2,997.75 $362,446.84 14.5175 $362,446.84 $1,812.23 -$2,997.75 $361,261.32 14.58333333176 $361,261.32 $1,806.31 -$2,997.75 $360,069.88 14.66666667

177 $360,069.88 $1,800.35 -$2,997.75 $358,872.47 14.75178 $358,872.47 $1,794.36 -$2,997.75 $357,669.08 14.83333333179 $357,669.08 $1,788.35 -$2,997.75 $356,459.68 14.91666667180 $356,459.68 $1,782.30 -$2,997.75 $355,244.22 15181 $355,244.22 $1,776.22 -$2,997.75 $354,022.69 15.08333333182 $354,022.69 $1,770.11 -$2,997.75 $352,795.05 15.16666667183 $352,795.05 $1,763.98 -$2,997.75 $351,561.27 15.25184 $351,561.27 $1,757.81 -$2,997.75 $350,321.33 15.33333333185 $350,321.33 $1,751.61 -$2,997.75 $349,075.18 15.41666667186 $349,075.18 $1,745.38 -$2,997.75 $347,822.81 15.5187 $347,822.81 $1,739.11 -$2,997.75 $346,564.17 15.58333333188 $346,564.17 $1,732.82 -$2,997.75 $345,299.23 15.66666667189 $345,299.23 $1,726.50 -$2,997.75 $344,027.98 15.75190 $344,027.98 $1,720.14 -$2,997.75 $342,750.37 15.83333333191 $342,750.37 $1,713.75 -$2,997.75 $341,466.36 15.91666667192 $341,466.36 $1,707.33 -$2,997.75 $340,175.94 16193 $340,175.94 $1,700.88 -$2,997.75 $338,879.07 16.08333333194 $338,879.07 $1,694.40 -$2,997.75 $337,575.71 16.16666667195 $337,575.71 $1,687.88 -$2,997.75 $336,265.84 16.25196 $336,265.84 $1,681.33 -$2,997.75 $334,949.42 16.33333333197 $334,949.42 $1,674.75 -$2,997.75 $333,626.41 16.41666667198 $333,626.41 $1,668.13 -$2,997.75 $332,296.79 16.5199 $332,296.79 $1,661.48 -$2,997.75 $330,960.52 16.58333333200 $330,960.52 $1,654.80 -$2,997.75 $329,617.57 16.66666667201 $329,617.57 $1,648.09 -$2,997.75 $328,267.91 16.75202 $328,267.91 $1,641.34 -$2,997.75 $326,911.49 16.83333333203 $326,911.49 $1,634.56 -$2,997.75 $325,548.30 16.91666667204 $325,548.30 $1,627.74 -$2,997.75 $324,178.29 17205 $324,178.29 $1,620.89 -$2,997.75 $322,801.43 17.08333333206 $322,801.43 $1,614.01 -$2,997.75 $321,417.68 17.16666667207 $321,417.68 $1,607.09 -$2,997.75 $320,027.02 17.25208 $320,027.02 $1,600.14 -$2,997.75 $318,629.40 17.33333333209 $318,629.40 $1,593.15 -$2,997.75 $317,224.79 17.41666667210 $317,224.79 $1,586.12 -$2,997.75 $315,813.16 17.5211 $315,813.16 $1,579.07 -$2,997.75 $314,394.48 17.58333333212 $314,394.48 $1,571.97 -$2,997.75 $312,968.70 17.66666667213 $312,968.70 $1,564.84 -$2,997.75 $311,535.79 17.75214 $311,535.79 $1,557.68 -$2,997.75 $310,095.71 17.83333333215 $310,095.71 $1,550.48 -$2,997.75 $308,648.44 17.91666667216 $308,648.44 $1,543.24 -$2,997.75 $307,193.93 18217 $307,193.93 $1,535.97 -$2,997.75 $305,732.15 18.08333333218 $305,732.15 $1,528.66 -$2,997.75 $304,263.06 18.16666667219 $304,263.06 $1,521.32 -$2,997.75 $302,786.62 18.25220 $302,786.62 $1,513.93 -$2,997.75 $301,302.80 18.33333333221 $301,302.80 $1,506.51 -$2,997.75 $299,811.56 18.41666667222 $299,811.56 $1,499.06 -$2,997.75 $298,312.87 18.5223 $298,312.87 $1,491.56 -$2,997.75 $296,806.68 18.58333333224 $296,806.68 $1,484.03 -$2,997.75 $295,292.96 18.66666667225 $295,292.96 $1,476.46 -$2,997.75 $293,771.67 18.75226 $293,771.67 $1,468.86 -$2,997.75 $292,242.78 18.83333333227 $292,242.78 $1,461.21 -$2,997.75 $290,706.24 18.91666667228 $290,706.24 $1,453.53 -$2,997.75 $289,162.02 19229 $289,162.02 $1,445.81 -$2,997.75 $287,610.07 19.08333333230 $287,610.07 $1,438.05 -$2,997.75 $286,050.37 19.16666667

231 $286,050.37 $1,430.25 -$2,997.75 $284,482.87 19.25232 $284,482.87 $1,422.41 -$2,997.75 $282,907.53 19.33333333233 $282,907.53 $1,414.54 -$2,997.75 $281,324.32 19.41666667234 $281,324.32 $1,406.62 -$2,997.75 $279,733.19 19.5235 $279,733.19 $1,398.67 -$2,997.75 $278,134.10 19.58333333236 $278,134.10 $1,390.67 -$2,997.75 $276,527.02 19.66666667237 $276,527.02 $1,382.64 -$2,997.75 $274,911.90 19.75238 $274,911.90 $1,374.56 -$2,997.75 $273,288.71 19.83333333239 $273,288.71 $1,366.44 -$2,997.75 $271,657.40 19.91666667240 $271,657.40 $1,358.29 -$2,997.75 $270,017.93 20241 $270,017.93 $1,350.09 -$2,997.75 $268,370.27 20.08333333242 $268,370.27 $1,341.85 -$2,997.75 $266,714.37 20.16666667243 $266,714.37 $1,333.57 -$2,997.75 $265,050.19 20.25244 $265,050.19 $1,325.25 -$2,997.75 $263,377.68 20.33333333245 $263,377.68 $1,316.89 -$2,997.75 $261,696.82 20.41666667246 $261,696.82 $1,308.48 -$2,997.75 $260,007.55 20.5247 $260,007.55 $1,300.04 -$2,997.75 $258,309.84 20.58333333248 $258,309.84 $1,291.55 -$2,997.75 $256,603.63 20.66666667249 $256,603.63 $1,283.02 -$2,997.75 $254,888.90 20.75250 $254,888.90 $1,274.44 -$2,997.75 $253,165.59 20.83333333251 $253,165.59 $1,265.83 -$2,997.75 $251,433.67 20.91666667252 $251,433.67 $1,257.17 -$2,997.75 $249,693.08 21253 $249,693.08 $1,248.47 -$2,997.75 $247,943.79 21.08333333254 $247,943.79 $1,239.72 -$2,997.75 $246,185.76 21.16666667255 $246,185.76 $1,230.93 -$2,997.75 $244,418.94 21.25256 $244,418.94 $1,222.09 -$2,997.75 $242,643.28 21.33333333257 $242,643.28 $1,213.22 -$2,997.75 $240,858.74 21.41666667258 $240,858.74 $1,204.29 -$2,997.75 $239,065.28 21.5259 $239,065.28 $1,195.33 -$2,997.75 $237,262.86 21.58333333260 $237,262.86 $1,186.31 -$2,997.75 $235,451.42 21.66666667261 $235,451.42 $1,177.26 -$2,997.75 $233,630.92 21.75262 $233,630.92 $1,168.15 -$2,997.75 $231,801.33 21.83333333263 $231,801.33 $1,159.01 -$2,997.75 $229,962.58 21.91666667264 $229,962.58 $1,149.81 -$2,997.75 $228,114.64 22265 $228,114.64 $1,140.57 -$2,997.75 $226,257.46 22.08333333266 $226,257.46 $1,131.29 -$2,997.75 $224,391.00 22.16666667267 $224,391.00 $1,121.95 -$2,997.75 $222,515.20 22.25268 $222,515.20 $1,112.58 -$2,997.75 $220,630.02 22.33333333269 $220,630.02 $1,103.15 -$2,997.75 $218,735.42 22.41666667270 $218,735.42 $1,093.68 -$2,997.75 $216,831.34 22.5271 $216,831.34 $1,084.16 -$2,997.75 $214,917.75 22.58333333272 $214,917.75 $1,074.59 -$2,997.75 $212,994.58 22.66666667273 $212,994.58 $1,064.97 -$2,997.75 $211,061.80 22.75274 $211,061.80 $1,055.31 -$2,997.75 $209,119.36 22.83333333275 $209,119.36 $1,045.60 -$2,997.75 $207,167.20 22.91666667276 $207,167.20 $1,035.84 -$2,997.75 $205,205.29 23277 $205,205.29 $1,026.03 -$2,997.75 $203,233.56 23.08333333278 $203,233.56 $1,016.17 -$2,997.75 $201,251.98 23.16666667279 $201,251.98 $1,006.26 -$2,997.75 $199,260.48 23.25280 $199,260.48 $996.30 -$2,997.75 $197,259.03 23.33333333281 $197,259.03 $986.30 -$2,997.75 $195,247.58 23.41666667282 $195,247.58 $976.24 -$2,997.75 $193,226.06 23.5283 $193,226.06 $966.13 -$2,997.75 $191,194.44 23.58333333284 $191,194.44 $955.97 -$2,997.75 $189,152.66 23.66666667

285 $189,152.66 $945.76 -$2,997.75 $187,100.67 23.75286 $187,100.67 $935.50 -$2,997.75 $185,038.42 23.83333333287 $185,038.42 $925.19 -$2,997.75 $182,965.86 23.91666667288 $182,965.86 $914.83 -$2,997.75 $180,882.94 24289 $180,882.94 $904.41 -$2,997.75 $178,789.60 24.08333333290 $178,789.60 $893.95 -$2,997.75 $176,685.79 24.16666667291 $176,685.79 $883.43 -$2,997.75 $174,571.47 24.25292 $174,571.47 $872.86 -$2,997.75 $172,446.57 24.33333333293 $172,446.57 $862.23 -$2,997.75 $170,311.06 24.41666667294 $170,311.06 $851.56 -$2,997.75 $168,164.86 24.5295 $168,164.86 $840.82 -$2,997.75 $166,007.93 24.58333333296 $166,007.93 $830.04 -$2,997.75 $163,840.22 24.66666667297 $163,840.22 $819.20 -$2,997.75 $161,661.66 24.75298 $161,661.66 $808.31 -$2,997.75 $159,472.22 24.83333333299 $159,472.22 $797.36 -$2,997.75 $157,271.83 24.91666667300 $157,271.83 $786.36 -$2,997.75 $155,060.44 25301 $155,060.44 $775.30 -$2,997.75 $152,837.99 25.08333333302 $152,837.99 $764.19 -$2,997.75 $150,604.42 25.16666667303 $150,604.42 $753.02 -$2,997.75 $148,359.69 25.25304 $148,359.69 $741.80 -$2,997.75 $146,103.74 25.33333333305 $146,103.74 $730.52 -$2,997.75 $143,836.50 25.41666667306 $143,836.50 $719.18 -$2,997.75 $141,557.93 25.5307 $141,557.93 $707.79 -$2,997.75 $139,267.97 25.58333333308 $139,267.97 $696.34 -$2,997.75 $136,966.56 25.66666667309 $136,966.56 $684.83 -$2,997.75 $134,653.64 25.75310 $134,653.64 $673.27 -$2,997.75 $132,329.15 25.83333333311 $132,329.15 $661.65 -$2,997.75 $129,993.05 25.91666667312 $129,993.05 $649.97 -$2,997.75 $127,645.26 26313 $127,645.26 $638.23 -$2,997.75 $125,285.73 26.08333333314 $125,285.73 $626.43 -$2,997.75 $122,914.41 26.16666667315 $122,914.41 $614.57 -$2,997.75 $120,531.23 26.25316 $120,531.23 $602.66 -$2,997.75 $118,136.13 26.33333333317 $118,136.13 $590.68 -$2,997.75 $115,729.06 26.41666667318 $115,729.06 $578.65 -$2,997.75 $113,309.95 26.5319 $113,309.95 $566.55 -$2,997.75 $110,878.75 26.58333333320 $110,878.75 $554.39 -$2,997.75 $108,435.39 26.66666667321 $108,435.39 $542.18 -$2,997.75 $105,979.82 26.75322 $105,979.82 $529.90 -$2,997.75 $103,511.96 26.83333333323 $103,511.96 $517.56 -$2,997.75 $101,031.77 26.91666667324 $101,031.77 $505.16 -$2,997.75 $98,539.18 27325 $98,539.18 $492.70 -$2,997.75 $96,034.12 27.08333333326 $96,034.12 $480.17 -$2,997.75 $93,516.54 27.16666667327 $93,516.54 $467.58 -$2,997.75 $90,986.37 27.25328 $90,986.37 $454.93 -$2,997.75 $88,443.55 27.33333333329 $88,443.55 $442.22 -$2,997.75 $85,888.01 27.41666667330 $85,888.01 $429.44 -$2,997.75 $83,319.70 27.5331 $83,319.70 $416.60 -$2,997.75 $80,738.54 27.58333333332 $80,738.54 $403.69 -$2,997.75 $78,144.48 27.66666667333 $78,144.48 $390.72 -$2,997.75 $75,537.45 27.75334 $75,537.45 $377.69 -$2,997.75 $72,917.39 27.83333333335 $72,917.39 $364.59 -$2,997.75 $70,284.22 27.91666667336 $70,284.22 $351.42 -$2,997.75 $67,637.89 28337 $67,637.89 $338.19 -$2,997.75 $64,978.33 28.08333333338 $64,978.33 $324.89 -$2,997.75 $62,305.47 28.16666667

339 $62,305.47 $311.53 -$2,997.75 $59,619.24 28.25340 $59,619.24 $298.10 -$2,997.75 $56,919.59 28.33333333341 $56,919.59 $284.60 -$2,997.75 $54,206.43 28.41666667342 $54,206.43 $271.03 -$2,997.75 $51,479.71 28.5343 $51,479.71 $257.40 -$2,997.75 $48,739.36 28.58333333344 $48,739.36 $243.70 -$2,997.75 $45,985.30 28.66666667345 $45,985.30 $229.93 -$2,997.75 $43,217.47 28.75346 $43,217.47 $216.09 -$2,997.75 $40,435.81 28.83333333347 $40,435.81 $202.18 -$2,997.75 $37,640.24 28.91666667348 $37,640.24 $188.20 -$2,997.75 $34,830.68 29349 $34,830.68 $174.15 -$2,997.75 $32,007.08 29.08333333350 $32,007.08 $160.04 -$2,997.75 $29,169.37 29.16666667351 $29,169.37 $145.85 -$2,997.75 $26,317.46 29.25352 $26,317.46 $131.59 -$2,997.75 $23,451.30 29.33333333353 $23,451.30 $117.26 -$2,997.75 $20,570.80 29.41666667354 $20,570.80 $102.85 -$2,997.75 $17,675.90 29.5355 $17,675.90 $88.38 -$2,997.75 $14,766.53 29.58333333356 $14,766.53 $73.83 -$2,997.75 $11,842.61 29.66666667357 $11,842.61 $59.21 -$2,997.75 $8,904.07 29.75358 $8,904.07 $44.52 -$2,997.75 $5,950.84 29.83333333359 $5,950.84 $29.75 -$2,997.75 $2,982.84 29.91666667360 $2,982.84 $14.91 -$2,997.75 $0.00 30

EAR

How much will you pay in interest, and how much will you pay in principal, during the first year?

£35,973.03

How much will you pay in interest, and how much will you pay in principal, during the 20th year (i.e. between 19 and 20 years from now)

£35,973.03

20 = Month 229 to Month 240

Interest Payments Principal16828.9474 -35973 -19144.08

You have just purchased your home and taken out a $500000 mortgage. The mortgage has a 30-year term with