Assigment 2

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The bank offers you the following three options to pay back the loan from the previous question: I: To pay the interest of 6.00% annually II: To pay an interest of 0.49% monthly III: To pay an interest of 1.46% quarterly Which of these three options would be most beneficial for you? O All three options would be equally beneficial Option II ○ Option III Option I O Option II and Option III would be equally beneficial

Loan amount = $175,591 Assume that your broker agents introduce/assess you to a local bank of Belize. The bankoffers you their lowest interest rate at 9.25% APR, either a 10-year fixed interest rate or20-year fixed interest rate.a) If you want a 10-year, fixed-rate mortgage loan, find the monthly mortgagepayment.b) Determine the total amount to be paid over the full term of the loan.c) How much interest that will be paid on the loan over the 10 years

Your bank offers the following options on a $100,000 mortgage: 1. A 15-year, 4% loan with no points 2. A 15-year, 3.5% loan, with 1.5 discount points.. The interest portion of the first payment (INT) is. for option 2. $333.33: $291,67 None of the above. O $4,000; $3,500 O $406.36; $423.21 for option 1, and

Give only typing answer with explanation and conclusion

Finding the Interest Rate: Concept Connection Example 6-3 (page 237) 18. What interest rates are implied by the following lending arrangements? a. You borrow $500 and repay $555 in one year. b. You lend $1,850 and are repaid $2,078.66 in two years. c. You lend $750 and are repaid $1,114.46 in five years with quarterly compounding. d. You borrow $12,500 and repay $21,364.24 in three years under monthly compounding. (Note. In parts c and d, be sure to give your answer as the annual nominal rate.) Lasher, William R.. Practical Financial Management (Page 276). South-Western College Pub. Kindle Edition.

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Suppose a bank offers you a 4.99% interest rate on a 20-year mortgage to be paid back with monthly payments. Suppose the most you can afford to pay in monthly payments is $1500. How much of a mortgage could you afford? a.) $224,787.34 b.) $227,478.34 c.) $227,847.25 d.) $228,743.72

Find the interest rates earned on each of the following: A. You borrow $700 and promise to pay back $749 at the end of 1 year B. You lend $700 and the borrower promises to pay you back $749 at the end of 1 year C. You borrow $85,000 and promise to pay back $201,229 at the end of 10 years D. You borrow $9,000 and promise to make payments of $2,684.80 at the end of each year for 5 years

You arrange a mortgage from the Pinder Bank of Australia. The amount you borrow is $760,000 with payments required on a monthly basis over the next 25 years with the first payment required one month from today. The interest rate quoted by the bank is 12% p.a. compounding monthly. Which of the following is closest to the monthly payment required by the bank? Group of answer choices A. $6,088 B. Need more information to answer the question C. $8,005 D. $7,057 E. $6,906

SOLVE FOR NUMBER 4 ONLY 3. Citibank pays 9% ordinary simple interest on a 30-day time deposit. If Gino deposits Php 1 500.00, how much will he have using:a. Exact interest b. Ordinary interest 4. After solving the problem in number 3, what conclusion can you draw between ordinaryand exact interest? If you are the banker, what kind of interest will you use and why?How about if you are the depositor?

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Q2. You plan to purchase a house for $195,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of 20% of the purchase price and monthly payment. You will not pay off the mortgage early. Your bank offers you the following three options the payment: Option 1: Mortgage rate of 5.5% and zero points. Option 2: Mortgage rate of 5.35% and 1 point Option 3: Mortgage rate of 5.35 % and 1.5 points

Need all four quest...

Solve part a,b,c. Typed a

1. Joe agrees to make the ff. payments from the lending investor End-of-year 1 2 3 4 Payment 5000 6000 7000 8000 9000 5 Required: a. Determine the amount of money that he can loan from the lending investor. b. In case Joe opts to return the money plus interest in equal end-of-year payments, compute the annuities or the amount of annual payments needed to make. Use 12% interest rate.

Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $181,000. The bank requires a 20% down payment and three points at the time of closing. The cost of 1- the horme is financed with a 30-year fixed-rate mortgage at 7.5%. Complete parts (a) through (e) below. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? $ (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). $ (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. $ (Round to the nearest dollar as needed.) Next MacBook Air 8884 %23 24 % & * 2 3 4 5 6 8. 9. R. T Y D K F. S'

effective rates of interest find the interest rate earned on each of the following : a. You borrow $700and promise to pay back $749 at the end of 1 year b. You lend $700 and borrower promises to pay you $749 at the end of 1 year c. You borrow $8,500 and promise to pay back $201,229 at the end of 10 years d. You borrow $9,000 and promise to make payments of $2,684.80 at the end of each year for 5 years

=t K A friend asks to borrow $54 from you and in return will pay you $57 in one year. If your bank is offering a 6.1% interest rate on deposits and loans: a. How much would you have in one year if you deposited the $54 instead? b. How much money could you borrow today if you pay the bank $57 in one year? c. Should you loan the money to your friend or deposit it in the bank? a. How much would you have in one year if you deposited the $54 instead? If you deposit the money in the bank today you will have $ b. How much money could you borrow today if you pay the bank $57 in one year? You will be able to borrow $ today. (Round to the nearest cent.) c. Should you loan the money to your friend or deposit it in the bank? From a financial perspective, you should end of year. in one year. (Round to the nearest cent.) (Select from the drop-down menu.) ▼ as it will result in more money for you at the

The following formula is used for figuring out a monthly home mortgage payment: 7(12t) r Lr1+ 12 M = 12t 12 1+ 12 -1 Where: L = the loan amount in dollars the annual interest rate expressed as decimal t = the number of years of the loan M= the monthly payment in dollars r = You are looking to buy a $275,599.00 home in Haverhill. If Bank of America will give them a 30-year mortgage at 6.75% annual interest rate for the cost of the house after they receive a 10% down payment. A. Determine the loan amount? B. How much their monthly payment will be? C. At the end of the 30-years, how much total money will you have paid to Bank of America for your home? In another word how much did the $275,599.00 house really cost the couple? D. How much interest will they have paid? E. How many of her monthly payment go toward the interest? F. What percent increase over the cost of the home does this interest represent? G. Redo and re-answer all questions, but this time for 15 years? Do analysis…

Suppose bank a offers a 229020 year 6.4% fixed rate mortgage with closing cost of 2600 + 4 points what are their closing costs associated with this mortgage

Ttme Value of of Money Tim wants to borrow $400,000 from Bank of America on a 30-year mortgage. a. What would Tim's monthly payments be on his motgage? b. Amortize the loan and determine: Interest expense for the first quarter of the loan. Cash flows for the first quarter of the loan. Loan balance at the end of the first quarter of the loan. Please show your calculations, part b is very important. If you are using the TVM chart, please state whether you used PVoA, FVoA, PVoSA, FVoSA.