Question

Answer using excel: Please show how you do it   on excel with formulas! 1. Given the...

Answer using excel: Please show how you do it   on excel with formulas!

1. Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a percent). Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 2, Other Closing Expenses: $3,611. 


A. 7.7% B. 8.2% C. 8.5% D. 9.1%

2. Suppose a potential home buyer is interested in taking a $500,000 mortgage loan that has a term of 30 years and a fixed mortgage rate of 5.25%. What is the monthly mortgage payment that the homeowner would need to make if this loan is fully amortizing? 


A. $552.50 B. $2,761.02 C. $17,820.72 D. $33,458.47

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
Solve using excel: A. Given the following information, calculate the balloon payment for a partially amortized...
Solve using excel: A. Given the following information, calculate the balloon payment for a partially amortized mortgage. Loan amount: $84,000, Term to maturity: 7 years, Amortization Term: 30 years, Interest rate: 4.5%, Monthly Payment: $425.62. 
 B. Given the following information about a fully amortizing loan, calculate the lender's yield (rounded to the nearest tenth of a percent). Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 2. C. Given the following information, calculate the...
PLEASE SHOW FORMULA USED(NOT FROM EXCEL) AND STEPS USING FINANCIAL CALC 7. Ann obtains a fully...
PLEASE SHOW FORMULA USED(NOT FROM EXCEL) AND STEPS USING FINANCIAL CALC 7. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $135,000 at 5.25%. What will be Ann’s mortgage balance after 20 years of payments (ie after 240 months)? 8. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $135,000 at 5.25%. What percent of Ann’s 20th payment goes to interest? 9. Ann obtains a fully amortizing 30 year Fixed...
Please answer using excel: please show formulas and how you actually do it   on there! 1....
Please answer using excel: please show formulas and how you actually do it   on there! 1. You have taken out a $350,000, 3/1 ARM. The initial rate of 6.0% (annual) is locked in for 3 years. Calculate the outstanding balance on the loan after 3 years. The interest rate after the initial lock period is 6.5%. (Note: the term on this 3/1 ARM is 30 years) 
 A. $2,098.43 B. $2,183.95 C. $336,294.25 D. $347,901.57 2. You have taken out a...
Solve using excel: A. You have taken out a $225,000, 3/1 ARM. The initial rate of...
Solve using excel: A. You have taken out a $225,000, 3/1 ARM. The initial rate of 5.8% (annual) is locked in for 3 years and is expected to increase to 6.5% at the end of the lock period. Calculate the initial payment on the loan. (Note: the term on this 3/1 ARM is 30 years) 
 B. Given the following information, calculate the Effective Borrowing Cost (EBC). Loan amount: $175,000, Term: 30 years, Interest rate: 7 %, Payment: $1,164.28, Discount points:...
Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a...
Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a percent). Loan amount: $185,000 Term: 30 years, Interest rate: 7.25%, Monthly Payment: $1,262.00, Discount points: $2,500 and Other Closing Expenses: $3,611.
Edit question Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth...
Edit question Given the following information, calculate the effective borrowing cost (rounded to the nearest tenth of a percent). Loan amount: $185,000 Term: 30 years, Interest rate: 7.25%, Monthly Payment: $1,262.00, Discount points: $2,500 and Other Closing Expenses: $3,611.
Show work through excel using formulas: but please actually show each step you use to do...
Show work through excel using formulas: but please actually show each step you use to do it on excel! 1. Assume you have taken out a balloon mortgage loan for $2,500,000 to finance the purchase of a commercial property. The loan has a term of 5 years, but amortizes over 25 years. Calculate the balloon payment at maturity (Year 5) if the interest rate on this loan is 4.5%. A. $5,637.99 B. $13, 895.82 C. $2,196,447.59 D. $2,495,479.19
SHOW CLEAR WORK ON EXCEL A fully amortizing mortgage is made for $80,000 for 25 years....
SHOW CLEAR WORK ON EXCEL A fully amortizing mortgage is made for $80,000 for 25 years. Total monthly payments will be $900 per month. What is the interest rate on the loan?
Create a worksheet that through inputs and a series of formulas, be a basis of an...
Create a worksheet that through inputs and a series of formulas, be a basis of an expandable tool, that you can use to create project an amortization schedule. The spreadsheet should be able to do various calculations using automated formulas. Fully amortizing, partially amortizing (balloon), partial interest only or Interest only (bullet). there should be no balance or payment of interest past the term or error messages Yield with or with out closing costs. Interest Only periods. should be fully...
1. Calculate the monthly payment for a 30-year fixed rate mortgage of $500,000 with 6% mortgage...
1. Calculate the monthly payment for a 30-year fixed rate mortgage of $500,000 with 6% mortgage rate and a balloon payment of $300,000 at maturity. 2. Assume we have a $2 million 10 year mortgage with annual payments beginning in exactly one year; the interest rate is 8%. Determine the annual mortgage payment under the following assumptions. In each case verify your calculation by giving the relation between the pay rate and the accrual rate. A) Loan is fully amortizing...