Based on Exhibit 9.9, or using a financial calculator, what would be the monthly mortgage payments for each of the followingsituations?Note: Round tin value factor and final answers to 2 decimal places.What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate affect the monthlypayment?a $120,000, 15-year loan at 5 percentb. $86,000, 30-year loan at 4.5 percent.c$105,000, 20-year loan at 4 percentd-1. Longer mortgage terms mean ad-2 For increase in mortgage rateMonthly MortgagePaymentmonthly paymentmonthly payment is required

Mortgage loans are paid by fixed equal monthly payments and these monthly payment carry the payment…

Based on Exhibit 9.9, or using a financial calculator, what would be the monthly mortgage payments for each of Note: Round tin value factor and final answers to 2 decimal places. situations? What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate payment? a $120,000, 15-year loan at 5 percent b. $86,000, 30-year loan at 4.5 percent. $105,000, 20-year loan at 4 percent. d-1. Longer mortgage terms mean a d-2. For increase in mortgage rate Monthly Mortgage Payment monthly payment monthly payment is required

Based on Exhibit 9.9, or using a financial calculator, what would be the monthly mortgage payments for each of Note: Round tin value factor and final answers to 2 decimal places. situations? What relationship exists between the length of the loan and the monthly payment? How does the mortgage rate payment? a $120,000, 15-year loan at 5 percent b. $86,000, 30-year loan at 4.5 percent. $105,000, 20-year loan at 4 percent. d-1. Longer mortgage terms mean a d-2. For increase in mortgage rate Monthly Mortgage Payment monthly payment monthly payment is required

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

I need the excel function typed out? Example =RATE???? G. Find the interest rate (APR) on a 27-year mortgage with a initial loan amount of $358,000, if the monthly payment is $2229.45 Let's use references for input values; and be sure to annualize the rate! INPUTS: OUTPUT: Period 27 Rate is APR Payment 2229.45 Loan amount 358000
Help me please
Using this table as needed, calculate the required information for the mortgage. Number Table Monthly Payment (in $) Term Total Amount Interest of $1,000s Financed of Loan Factor Interest Financed Rate (years) (in $) (in $) $74,500 8.00% $| 30
i need the answer quickly
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'
Use an amortization table (Use Spreadsheet application such as Excel) that determines the monthly mortgage payment based on interest rate of 35% and a principal of GHS1000,000 with a 15-year maturity and then for a 30-year maturity. Is the monthly payment for the 15-year maturity twice the amount for the 30-year maturity or less than twice the amount? Explain.
. Mortgage with Points. Home loans sometimes involve "points," which are fees charged by the lender. Each point charged means that the borrower must pay 1% of the loan amount as a fee. For example, if the loan is for $100,000 and 2 points are charged, the loan repayment schedule is calculated on a $100,000 loan but the net amount the borrower receives is only $98,000. Assume the interest rate is 1% per month. What is the effective annual interest rate charged on such a loan, assuming loan repayment occurs over 360 months? (LO5-4)
3. Find the amount (in $) of interest and the maturity value of the loans. Use the formula MV = P + I to find the maturity value. (Round your answers to two decimal places.) Principal Rate (%) Time Interest Maturity Value $185,000 14 1 2 5 months $ $
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) AmountFinanced InterestRate Termof Loan(years) Numberof $1,000sFinanced TableFactor(in $) MonthlyPayment(in $) TotalInterest(in $) $168,300 7.25% 15 168.3 $ $ $
Suppose the modified mortgage for a house is $289,275 and the monthly mortgage payment is $1801.39 for 30 years. Determine the interest rate. (This is where the financial or graphing calculator is necessary. See this excerpt for details.) The result is the APR required by the Truth in Lending Act. For this example we have included only points. In most situations, other fees would be included as well. (Round your answer to two decimal places.) The APR is %.
Using this table as needed, calculate the required information for the mortgage. (Round dollars to the nearest cent.) Amount Financed = 220,000 Interest Rate = 7.25% Term of Loan (years) =15 SOLVE FOR THE FOLLOWING: Number of $1,000s Financed Table Factor (in $) Monthly Payment (in $) Total Interest (in $)
The principal P is borrowed and the loan's future value, A, at time t is given. Determine the loan's simple interest rate, r, to the nearest tenth of a percent.P = $500, A = $530, t = 4 months

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