A $150,000 home is financed by a 30-year, 9 percent fixed-rate mortgage loan with 20 percent down payment. What is the remaining balance of the loan at the end of the 10th year? Group of answer choices $106,624.72 $107,315.70 $119,321.96 $119,934.45

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $517,000 home…

A: Given,Total amount = $517000Down payment = 20% of $517000Loan term = 30 yearsInterest rate = 6.2%

Q: What would the monthly payment be? It is a zero amortizing loan

A: Given  Pv=300000*75%=225000 i=6%/12=0.5% n=30*12=360 Pv=pmt*(1-(1+i)^-n)/i

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $518,000 home…

A: When we take a loan we usually make fixed periodic payments toward servicing the loan. The fixed…

Q: wer takes out a 10-year mortgage loan for $300,000 with an interest rate of 7%. What portion of the…

A: Interest payments:Interest payments refer to the amount of money that is paid by a borrower to a…

Q: Tom creates a 30-year mortgage of $150,000 with APR 5.6%, monthly paid.  Please find the balance at…

A: Loan amount (P) = $150,000 Monthly interest rate (r) = 0.00466666666666667 (i.e. 0.056 / 12) Monthly…

Q: Please help me find b, part three TOTAL INTEREST! Some lenders offer fifteen-year home loans.…

A: Loan amount =$100,000Interest rate per year =10%We need to find the total interest paid in 10 year…

Q: A home is purchased for $229,000 with an amortized loan over 30 years at an interest rate of 4.6%.…

A: Purchase price =                 2,29,000         Loan Tenure =  30 years       Interest rate =…

Q: You have decided to buy a house and finance it with a 20-year, 4.25% APR mortgage.  The house costs…

A: A written agreement through which a lender gets the right to take the property that is put as a…

Q: Find the total monthly payment, including taxes and insurance. Interest Rate Term of Loan Annual…

A: A mortgage is a loan taken out for the purchase of real estate. The real estate being purchased acts…

Q: You are buying your first condo for $250, 000 and you will make a $50, 000 down payment. You have…

A: Loan amount = Purchase price - Down paymentMonthly interest rate = Nominal interest rate / Number of…

Q: I bought my home January 1st 2020 If my home costs 580,000$ The down payment is 5% the mortgage rate…

A: A mortgage is a financial instrument designed to facilitate the acquisition of real estate,…

Q: ou want to purchase a new house when you graduate. The house that you want costs $600,000. You will…

A: Annual Interest is the percentage at which interest is charged on a loan or earned on an investment…

Q: A mortgage of $590 000 is needed for the purchase of a house. Compare the total interest paid if the…

A: When buying expensive and large ticket items like a house we take mortgage from bank. This is…

Q: How much interest (to the nearest dollar) would be saved on the following loan if the home were…

A: Loan amount = Amount of home * (1-Down payment %) = 501000*(1-20%) =400800

Q: A borrower can borrow $10 million at a fixed-rate loan at 7.5% for six years. After some…

A:

Q: What is the total amount Bae will have to repay for his ​$24 comma 19924,199 student loan if the…

A: The objective of the question is to calculate the total amount Bae will have to repay for his…

Q: Question 10: How much can I borrow for the purchase of my first home if I can afford to make monthly…

A: Monthly payment (P) = $ 1000 Annual interest rate = 4.8% Monthly interest rate (r) = 4.8%/12 = 0.40%…

Q: many years will it take for 1/3 of the loan balance to be rep-

A: In this problem we have to find out monthly payments and find out time required to repay 1/3.

Q: Monthly Mortgage Rate (%) 15 Years Payment per $1000 20 Years 30 Years

A: Present value of annuity With periodic interest rate (r), period (n) and periodic payment (PMT), the…

Q: You have a mortgage for $95,000 at 6.50% for 30 years, monthly payments. The loan has a five percent…

A: An amortized loan is subjected to a prepayment penalty if repaid within a stipulated timeline. The…

Q: Complete the following amortization chart. (Round your answers to the nearest cent.) selling…

A: Selling price = $ 86000 Down payment = $ 5000 Principal loan (PV) = 86000-5000 = $ 81000 Rate of…

Q: Find the APR (rounded to the nearest tenth of a percent) for the loan described below. Purchase a…

A: APR: APR stands for annual percentage rate. which means the annual percentage rate on purchases.…

Q: You have just purchased a new warehouse. To finance the purchase, you've arranged for a 25-year…

A: Annual percentage rate refers to the cost which is charged on the loan amount by the lender from the…

Q: A fully amortizing mortgage loan is made for $100,000 for 15 years. The interest rate is 6 percent…

A: Loan installment is that which is paid by borrower to lender for a specified period of time. This…

Q: Consider a 30-year, traditional mortgage on a $220,000 property. With 30% down payment and a 3% APR.…

A: Monthly payment refers to an amount that is being at every month including interest and principal…

Q: Compare the following two loans and answer the following 2 questions. Loan Option1: $183,000; 5.50%;…

A: A mortgage refers to a loan that is taken out by the borrower to purchase a property. The concept of…

Q: calculate the mortgage payment for a home mortgage price costing $ 280,000. Calculate the payment…

A: A mortgage is a kind of loan that a lender or financial institution offers to people or companies to…

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $519,000 home…

A: When the lender lends a loan to the borrower, he charges a rate of interest on the borrowed amount.…

Q: The Hogansons purchase a new home for $225,000. They make a 25% down payment and finance the remain…

A: Loans are paid by equal fixed monthly payments that carry the payment for interest and loan both.

Q: Calculate Jack's mortgage payment  using the 5% rate for 30 years on a mortgage balance of $233,000

A: A written agreement through which a lender gets the right to take the property that is put as a…

Q: You are considering buying a house with a 15-year amortized mortgage loan. The value of the house is…

A: To find the repayment of principal in the third month of a 15-year mortgage loan, we first need to…

Q: Assume Jenny took out a $400,000 mortgage to pay for her new house. The mortgage rate is 5.7%. It is…

A: Information Provided: Mortgage amount = $400,000 Interest rate = 5.70% Period = 25 years

Q: A $150,000 home is financed by a 30-year, 9 percent fixed-rate mortgage loan with 20 percent down…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: monthly paymen

A: Monthly payment refers to the equivalent amount that is paid every month for the loan duration. The…

Q: rounded

A: Given, Loan Amount = $3,100 Rate = 12% Time Period = 4 Years.

Q: Find the monthly payment for the loan. (Round your answer to the nearest cent.) A $505,000 home…

A: Here,ParticularsValuesPurchase price of home $   5,05,000.00Percentage of down payment20.00%Number…

Q: What are your monthly payments if the mortgage is for 30 years and the nominal annual mortgage…

A: Information provided: Principal amount = $150,000 Term = 30 years Interest rate = 5.50%

Q: On February 1, you borrow $750,000 to buy a house. The mortgage rate is 7.23% compounded…

A: Data given:Loan amount=$750,000N=20 yearsnper=20*12= 240Effective monthly rate=0.59362033%Working…

Q: Suppose you are buying your first home for $144,000, and you have $17,000 for your down payment. You…

A: purchasing price = $144,000 down payment = $17,000 loan amount = $144,000 - 17,000…

Q: A building is sold for $100000 and the bank requires 20% down payment. If the effective rate of…

A: Calculate the amount of loan after down payment by deducting the down payment amount from the value…

Q: Jason is buying a home with a $150,000 mortgage using a 6 percent, 15-year loan. How much of the…

A: Loan amortization schedule represents the amount of periodic payments composed of the interest…

Q: For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest. 21. After…

A: Borrowings are the liability of the company which is used to finance the requirement of the funds.…

Q: Which of the following is an annuity? Group of answer choices A car loan that has a $400 per month…

A: Annuity is a financial product or contract offered by insurance companies, investment firms or…

Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.