Question

#30 How much of the loan balance will you pay off during the sixth year of...

#30 How much of the loan balance will you pay off during the sixth year of a 15-year $200,000 loan with monthly payments at an APR of 4.8%, assuming you make only the minimum monthly payments?

A. $11,894

B. $7,468

C. $11,860

D. $12,470

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
How much of the loan balance will you pay during the 22nd year of a 30-year...
How much of the loan balance will you pay during the 22nd year of a 30-year $515,000 mortgage with monthly payments and an APR of 4.875%, assuming you make only the minimum monthly payments? A. 23,338 B. 21,586 C. 214,448 D. 216,295
How much of the loan balance would you pay during the 12th year of a 15-year,...
How much of the loan balance would you pay during the 12th year of a 15-year, $180,000 loan at 2.65% APR with monthly payments, assuming you made only the minimum monthly payments?
How much principal would you pay during the 8th year of a 30-year, $580,000 loan at...
How much principal would you pay during the 8th year of a 30-year, $580,000 loan at 3.65% APR with monthly payments, assuming you made only the minimum monthly payments?
If you borrow $850,000 for 20 years at 4.875% APR, how much of the loan balance...
If you borrow $850,000 for 20 years at 4.875% APR, how much of the loan balance will you pay off during the 11th year of the loan assuming you make only the minimum monthly payments?
#29 How much interest will you pay during the last five years of a 25-year $375,000...
#29 How much interest will you pay during the last five years of a 25-year $375,000 loan with an APR of 5.75% if you only make the minimum monthly payments? A. $26,490 B. $392,324 C. $18,784 D. $21,734 E. $19,381
How much principal will you pay in the last three years of a 15-year, $250,000 mortgage...
How much principal will you pay in the last three years of a 15-year, $250,000 mortgage with an APR of 4.25%, assuming you make only the minimum monthly payments? A. $63,461.29 B. $65,111.38 C. $63,194.30 D. $56,456.19
You are borrowing $200,000 on a 30 year, 12% apr, monthly payment, mortgage loan. How much...
You are borrowing $200,000 on a 30 year, 12% apr, monthly payment, mortgage loan. How much will be your principal repayment from your monthly mortgage payment at the end of the second month?(Make a table for the mortgage loan payment schedule) Can you explain how to get interest and principle repaid please
6. You are buying a new house on a 30-year, 5.2% mortgage loan of $230,000. A....
6. You are buying a new house on a 30-year, 5.2% mortgage loan of $230,000. A. How much will your monthly payments be? B. How much will go toward principal in the 75th month? How much will go toward interest in the 75th month? What will be the balance after 75 months? C. How much interest will you pay in total over the 30 years? D. If you do a 15-year loan instead of a 30-year one, how much will...
You want to buy a $203,000 home. You plan to pay 15% as a down payment,...
You want to buy a $203,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan at 4.3% annual interest compounded monthly for the rest. a) How much is the loan amount going to be? $ b) What will your monthly payments be? $ c) How much total interest do you pay? $ d) Suppose you want to pay off the loan in 15 years rather than 30. What will your monthly payment...
Suppose you have a student loan of $40,000 with an APR of 9% for 30 years....
Suppose you have a student loan of $40,000 with an APR of 9% for 30 years. Complete parts a through C. A. what are your required monthly payments? The required monthly payment is $___ do not round until the final answer. Then round to the nearest cent as needed B. suppose you would like to pay the loan off in 18 years instead of 36. What monthly payments will you need to make? C. compare the total amount you’ll pay...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT