Answered: current balance of home is 43,000 at…

Business

Finance

current balance of home is 43,000 at 6.5 % how much is needed to pay off in 11 years ?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 12PROB

See similar textbooks

Related questions

Q: What is the FV at the end of year 5 of $2212 put in an account today if the return is 8.6% per year?

A: Future value refers to the estimated value of an investment or cash flow at a specified point in the…

Q: Assume you put $200 per month into a retirement account for 14 years, and the account has an APR of…

A: Present Value The present value is the value of cash flow stream or the fixed lump sum amount at…

Q: How much money will be in s bank account after thress years, if the account pays 6% inerest…

A: Future value is that amount which will be require to paid at some specified period of time. It…

Q: How much money must be deposited at the end of each year in a savings account that pays 9% per year,…

A: Future value (FV) = P10,000 Interest rate = 9% e = 2.7182818284590452353602874713527 Effective…

Q: How much should be invested now at 6.7% compounded semiannually to have $47,000 in 19 years?

A: The amount required to be invested today is calculated as present value

Q: Listen How much will you have in 6 years if you save $3,600 at the end of every six months? Money…

A: The concept of money's time value reveals that any sum of money is worth more currently as compared…

Q: How much do you need to invest today, at 0.5% interest per year, in order to have $75,000 in 15…

A: Future value (FV) = $ 75000 Interest rate (r) = 0.5% Period (n) = 15 Years

Q: Suppose you need to hand $52,569 in an account 25 years from today and that account pays 6%. How…

A: Future vaue =52569Interest rate=6%

Q: How much will the account contain after 9 years and 3 months? How much interest will be earned?

A: Deposit amount = $600 Interest Rate = 5±70 compounded quarterly i.e 4.3 or 5.7 compounded quarterly…

Q: How much money would you need to place in an account to have $1,000 10 years from today? Assume the…

A: The formula used as follows: Present value=Future value1+innt

Q: How much money should be invested in an account that earns 3% interest, compounded monthly, in order…

A: Present value refers to the value of a future amount of money at the current time, factoring in a…

Q: How many years will it take to save $100000 if you place $1900 per month in an account that earns 4%…

A: Time value of money refers to the concept that money available today is worth more than the same…

Q: How long will it take for an investment to increase by 139% its amount if money is worth 14% comp.…

A: Given, Amount will be 139% at the end of the period So, Let's assume amount now is 100 amount at…

Q: A perpetuity pays $85 per year and costs $950. What is the rate of return? 8.95% 9.39% 9.86%…

A: The objective of the question is to calculate the rate of return on a perpetuity. A perpetuity is a…

Q: How much money deposited at the end of each year in a savings account that pays 9 % per year ,…

A: An annuity is a series of regular payments made at regular intervals. It earns interest as and when…

Q: A salesman earns P2,500 on the 1st month, P2,800 on the 2nd month, P3,100 on the 3rd month and so…

A: Since you have posted a multiple question then we will be solving the first question only as per the…

Q: te.4 If for the next 30 years you place $2,000 in equal year-end-deposits into an account earning 5%…

A: The objective of the question is to calculate the future value of an ordinary annuity. An ordinary…

Q: in how many years will it take 18000 dollars to accumulate 20000 dollars when you deposited in a…

A: In effective rate of interest, the compounding over the period are taken into account.

Q: In how many years will it take $17596accumulate to $31237 when you deposited in a savings account…

Q: HOW MUCH MONEY SHOULD BE DEPOSITED TODAY IN AN ACCOUNT THAT EARNS 4% COMPOUNDED MONTHLY, SO THAT IT…

A: Present value refers to the value of money today which is earned in future.

Q: What amount must be invested now in savings account earning 9% compounded quarterly to accumulate a…

A: Present Value is the current value of all the cash flows which is to be received in the future which…

Q: Suppose that $4500 is invested in an account that pays 2% annually and is left for 4 years. 1) How…

A: Given Information: Principal = $4,500 Rate = 2% or 0.02 Time = 4 years

Q: How much money would be in an account if $6,200 is deposited at 2% interest compounded semi-annually…

A: Time value tells the amount received by an individual today is of more worth than the same amount…

Q: At the end of two years, what will be the balance in a savings account paying 6% annually if $10,000…

A: In this question we need to compute the future value after 2 years.

Q: With a 0.31 compounded semi annually, approximately how much money must be invested today in order…

A: The present value is the value of money today compared to what it will be worth in the future.…

Question

current balance of home is 43,000 at 6.5 % how much is needed to pay off in 11 years ?

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Given Information:

VIEW

Calculations are as follow:

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

A house costs $142,000, It is to be paid off in exactly ten years, with monthly payments of $1,779.64. What is the APR of this loan? A. 6.75% O B. 8.75% C. 7.75% O D. 9.75%
A house costs $142,000. It is to be paid off in exactly ten years, with monthly payments of $1,779.64. What is the APR of this loan? A. 6.75% О в. 8.75% ос. 7.75% D. 9.75%
How much should be invested now at 6.7% compounded semiannually to have $47,000 in 19 years?
How many semi-annually payments will it take for $550.00 deposited at the end of each half year to amount to $12500.00 at 6% compounded monthly? FV - $ PMT =$ I/Y = C/Y= Total number of payments =
in how many years will it take 18000 dollars to accumulate 20000 dollars when you deposited in a saving account that earns 0.25% compounded monthly?
How much money will be in s bank account after thress years, if the account pays 6% inerest compounded quaeterly, 5000 is deposited today, and 2000 is withdrawn one year from now ?
How much money deposited at the end of each year in a savings account that pays 9 % per year , compounded continuously to have a total of P10,000 at the end of 14 yrs ?
How much money should be invested in an account that earns 3% interest, compounded monthly, in order to have $16,000 in 4 years?
What is the total interest paid on a loan of $5,000 at APR = 10% for one year.
With a 0.31 compounded semi annually, approximately how much money must be invested today in order to withdraw $ 17,301 per 6 months at the end of each 6 months for 10 payments?
Consider a loan of 800,000 which is to be amortized by 60 monthly payments. The interest rate is 12% converted monthly. 1. How much is the outstanding balance after the 36th payment? 2. How much of the 37th payment goes to pay the interest the principal?
Listen How much will you have in 6 years if you save $3,600 at the end of every six months? Money earns 9.00% compounded semiannually. Round dollar answers to 2 decimal places. Mode N = 1/Y = 9.00 P/Y=C/Y= PV = PMT= FV = How much money will you deposit? Total contributions = How much is the interest? Interest = A A >