Question

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

Answer #1

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

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)

You are considering purchasing a new home. You will need to
borrow $200,000 to purchase the home. A mortgage company offers you
a 15-year fixed rate mortgage (180 months) at 0.55% per month. If
you borrow the money from this mortgage company, your monthly
mortgage payment will be closest to

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 are borrowing $5,230 to buy a car. The terms of the loan
call for monthly payments for 5 years at a 5.50 percent interest
compounded monthly. What is the amount of each payment?
a.$75.93
b. $95.67
c. $99.90
d. $97.16
e. $75.38

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 borrow $70,000 and arrange to pay off the loan in five equal
annual installments.
Payments will be made at the end of each year. The loan interest
rate is 7.50 percent.
What percentage of your second year's payment will go toward
interest?
A.
19.5 percent
B.
17.2 percent
C.
80.5 percent
D.
28.7 percent
E.
25.1 percent

You take an amortized loan for $11,000. Your monthly payments
are $670. The loan has an annual interest rate of 11%, where the
interest is compounded monthly. When you make your first payment,
how much of your payment will go toward interest and how much will
go toward principal?

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...

You borrow 410,000 to buy a home using a 30-year mortgage with
an interest rate of 3.75 percent and monthly payment. After making
your monthly payments on time for exactly 6 years calculate your
loan balance. Disregard property taxes and mortgage insurance.

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