Question

You have obtained a loan of $250,000 to purchase a home. What are the monthly payments if the APR is 3.75% for 30 years (payments will be made monthly for the next 30 years)

Answer #1

Suppose you finance a home purchase with a loan for $365,000 at
an APR of 3.75% for 30 years.
A. What will your monthly payments be? Round your answer to two
decimal places.
B. How much total interest will you pay over the life of this
loan?
C.Complete the first 5 month of an amortization table for this
loan. Include payment number, payment amount, amount applied to
interest, amount applied to principle, balance, and equity as
columns in your table.

You borrow $210,000 to purchase a home. The terms of the loan
call for monthly payments over 30 years at a mortgage rate of 4.50
percent. What percentage of your first 36 months' total payments go
toward interest?
A.
81 percent
B.
72 percent
C.
65 percent
D.
59 percent

A 30 year home loan of $135000 at 8.75% compounded monthly is
obtained. a. Find the montly payments rounded up to the next cent.
$ b. State the total amount of interest paid on the loan assuming
that it is kept for 30 years and all payments are the same. $

You borrow $210,000 to purchase a home. The terms of the loan
call for monthly payments over 30 years at a mortgage rate of 4.50
percent. What percentage of your first 24 months' total payments go
toward interest?
Group of answer choices
a) 59 percent
b) 71 percent
c) 73 percent
d) 77 percent

Suppose you plan to purchase a $250,000 home. You plan to put 5%
down, and take a loan from the bank for the remaining amount. The
bank has offered you a 30-year loan with a 4.5% APR (compounded
monthly). Assuming you make every monthly payment on time,
calculate the principal balance of the loan 10-years from today.
(Round to 2 decimals)

You are borrowing $245,000 to purchase a home. The loan
agreement requires a monthly payment based upon a 4.5% quoted APR
over 20 years. What is your monthly mortgage payment?

You recently purchased a new home for $120,000 and have obtained
a 7% loan for the full $120,000 with equal annual payments due at
the end of each year for the next 30 years. Compute the amount of
each annual payment and prepare the first year of the amortization
schedule.

purchase of your first home for
$600,000.
You have just purchased the house and have put a 20% down
payment, and will borrow the remaining amount. The
15-year fixed rate loan has an Annual Percentage Rate (APR) of
3.875%. You will make monthly payments for the
life of the loan.
Question 12
related to your purchase of your first home for
$600,000.
You have just purchased the house and have put a 20% down
payment, and will borrow the remaining amount. The
15-year...

This morning, you took out a loan of $216,000 to purchase a
home. The interest rate on the 30-year mortgage is 3.75 percent and
you will make monthly payment. You have decided to make additional
monthly payment of $360 beginning with the first payment that will
occur one month from today. By how many years will you shorten the
length of time it will take you to pay off the loan?
Group of answer choices
11.69 years
8.11 years
13.24...

You have a 30 year $150,000 loan at 7% interest, monthly
payments. Fifteen years later, you have the chance to refinance
with a 15 year mortgage at 6%. However, the fees charged to make
this happen are $2500. What is the return on the $2500 "investment"
if you expect to remain in the home for the next 15 years? The
answer is 28.89% but im not sure how they got that.

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