A couple in their 70s with no liens on theirhome would like some extra income, butdon't want to make monthly loan payments.What kind of loan might a lender offer them?A- A reverse equity loan, since they are over62 and have sufficient equity in their home BA reverse equity loan, since they are overthe age of 35 C- A reverse equity loan, butthe couple will need to make monthlypayments D - None; a lender will probablyrefuse to lend to anyone over the age of 62-

In reverse equity loan is kind of loan in which home is collateral and loan is given against home…

Answered: A couple in their 70s with no liens on…

A couple in their 70s with no liens on their home would like some extra income, but don't want to make monthly loan payment: What kind of loan might a lender offer ther

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Which of the following is considered an annuity? OA share of common stock. A conventional fixed payment mortgage. A construction loan with varying costs and payments. A cash payment for a new car. O A savings account with occasional deposits for a newborn child.
Suppose that you need $30,000 for your last year of college. You could go to a private lending institution and apply for a signature student loan; rates range from 7% to 14%. However, your Aunt Sally is willing to loan you the money from her retirement savings, with no repayment until after graduation. All she asks is that in the meantime you pay her each month the amount of interest that she would otherwise get on her savings (since she needs that to live on), which is 4%.What is your monthly payment to her, and how much interest will you pay her over the year (9 months)?(Fill in the blanks below and give your answers as whole numbers.)The amount of interest per month you would pay Aunt Sally is $__(1)__ .The total interest you will pay her over the year (9 months)is $__(2)__ .
the concept "pay yourself first". With this in mind, what is your advice to someone on paying off credit card debt and investing for their retirement? Do you feel as though they should pay off all credit card debt before investing for their retirement or is it best to start investing for retirement as soon as possible? Why? * 350 word minimum
A ROTH IRA or 401(k) allows you to take money out tax free, and thank your Professor for telling you to open, and fund this type of investment! O True O False
A family decides they want to spend no more than $203,410.19. $1,200 on their monthly mortgage payments. If they can get a 30-year fixed-rate mortgage with a 5.85% APR while making a 20% down payment, what is the most expensive house they can afford? $255,262.74 $203,410.19 $259,226.55 $207,381.24
You borrow $100,000 from a bank to buy a house. Is this mortgage loan an asset or liability on the bank's balance sheet? Question 29 options: Asset Liability
Joe wants to own a home in the future. He asks you describe an advantages and disadvantage of a FRM versus an ARM. He then asks you to describe the advantages and disadvantages of a 15-year loan versus a 30-year loan. He also wants to know how the portion of the home payment that comprises interest changes over the years assuming he takes out an FRM. Is there anything he can do to reduce the total amount he’ll pay for the home? What else would be added to his monthly mortgage payment? What are three benefits of home ownership? What are three benefits of renting?
16. You are thinking about going to graduate school to earn a master's degree, which you hope will allow you to earn more money. Which of the following is NOT an incremental cash flow associated with your decision to extend your schooling versus going into the workforce when you finish your undergraduate degree? A) the cost-of-living expenses, such as rent and food, while you are in graduate school B) the cost of tuition C) the lost income you could have earned by working rather than staying in school D) the cost of books and other supplies required for your graduate studies
a) How much should you save per month to be able to buy the car when you retire? b) How much should you save per month to be able to buy the house at the age of 55? c) Therefore, how much do you need to save in TOTAL per month if you can earn 12% compounded monthly from now till you buy your house taking into account your retirement expenses? d) And how much do you need to save in TOTAL per month after you buy your house until you retire taking into account your retirement expenses?
II. Instead of buying insurance for retirement, you decided to set aside some savings in the bank. You believe that saving money in the bank is safer and more convenient than buying insurance. A)IfyouinvestOMR15,000nowat10%compoundedannually,howmuchwillbeinyouraccount after 20 years? B)IfyouinvestOMR15,000nowat10%compoundedquarterly,howmuchwillbeinyouraccount after 20 years? C)Discussthefactorswhatwillincreasethefuturevalueoftheamount.

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