Question

Answer #1

Exactly 18 years ago, you took out a $550,000 30-year mortgage
with monthly payments and
an APR of 10% compounded monthly. You have just made your 216th
payment. What is the
outstanding balance on your loan?

You take out a $25,000 30 years mortgage with monthly payments
and a rate of 3.5%, monthly compounded. What is your monthly
mortgage payment?
You take out a $25,000 30 years mortgage with monthly payments
and a rate of 3.5%, monthly compounded. What is the loan balance by
the end of year 15?
Calculate the future value at the end of year 4 of an
investment fund earning 7% annual interest and funded with the
following end-of-year deposits: $1,500 in...

You take out standard 30-year mortgage with fixed monthly
payments to purchase your house. The mortgage is for $250,000 with
a nominal annual rate of 4.6% (Monthly compounding). Each month,
you send in a check for $1,403.81, which is above the required
payment, where the excess payment directly reduces the outstanding
balance each month. What portion of your payments in months 25-36
go towards interest?

A young couple take out a 30-year home mortgage of $145,000.00
at 6.9% compounded monthly. They make their regular monthly payment
for 7 years, then decide to up their monthly payment to
$1,200.00.
a) What is the regular monthly payment? $
b) What is the unpaid balance when they begin paying the
accelerated monthly payment of $1,200.00? $
c) How many monthly payment of $1,200.00 will it take to pay off
the loan? payments d) How much interest will this...

Riley takes out a 30-year mortgage for $200,000 with a 3.48% APR
and with a monthly payment of $895.86.
After 10 years, how much has Riley paid in total?

Q3) You are looking
for a $550,000 mortgage loan for 10-year you would like to have
monthly payment. Your Bank told you that currently it's charging a
quarterly effective rate of 4%.
What is the APR rate?
What is your monthly payment should be?
How much interest would you have paid at the end of your
10-year mortgage loan?

You are offered a 30-year fixed-rate mortgage on your dream home
costing $350,000 at an APR of 6% compounded monthly. You will make
360 monthly payments, but your first payment will not be due until
Month 4 (Months 1-3 are part of a grace period where interest is
still compounded but no payments are due). The final payment will
therefore be due at the end of Month 363.
a) What will be the value of your equal monthly payments (don't...

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

Consider a 30‐year mortgage on at $400,000 house that requires
monthly payments and has an interest rate (APR) of 8% per year. You
have $ 50,000 in cash that you can use as a down payment on the
house, but you need to borrow the rest of the purchase
price.
a) What will your monthly payments be if you sign up for this
mortgage?
b) Suppose you sell the house after 10 years. How much will you
need to pay...

you
take out a $250000 30 year mortgage with monthly payments and a
rate of 3.5% montgky compounded.what is the loan balance by the end
of the year 15

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