None IntroYou take out a 30-year fixed-rate mortgage for $400,000 with an interest rate of7.2% (APR).Part 1What is the monthly payment?Attempt 1/1 for 10 pts.0+ decimalsSubmit

Formula:Where: PV = Present valueC = Monthly paymentr = ratet = periodIn this case, since it is a…

Answered: Intro You take out a 30-year fixed-rate…

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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What is the monthly payment on a $160,000, 30-year mortgage at 6% with a $40,000 balloon payment? O $1,049.36 O $1,149.33 O $919.46 O $949.44
Part a. Loan payments you borrow $100,000 over a period of 30 years at a fixed APR of 5.5% calculate the monthly payment Part b. Determine the total amount paid, then figure out what percentage is paid towards the principal and what percentage is paid for interest. Please solve part A and B they go together. I included an example problem
Vijay
*13.4.7 Find the monthly payment needed to amortize principal and interest for the fixed-rate mortgage. Use either the regular monthly payment formula or the given table Loan Amount Interest Rate $85,000 Term Real Estate Amortization Table 6% 20 years E Click the icon to view the Real Estate Amortization Table. Monthly payments to Repay Principal and Interest on a ST000 mortgage The monthly payment is $ (Round to the nearest cent as needed.) Term of Mortgage (years) Annual rate 5. 10 15 20 25 30 40 3.0% 17.96869 9.65607 6.90582 5.54598 4.74211 4.21604 3.57984 3.5% 18.19174 9.88859 7.14883 5.79960 5.00624 4.49045 3.87391 4.0% 18.41652 10.12451 7.39688 6.05980 5.27837 4.77415 4.17938 4.5% 18.64302 10.36384 7.64993 6.32649 5.55832 5.06685 4.49563 5.0% 18.87123 10.60655 7.90794 6.59956 5.84590 5.36822 4.82197 5.5% 19.10116 10.85263 8.17083 6.87887 6.14087 5.67789 5.15770 6.0% 19.33280 11.10205 8.43857 7.16431 6.44301 5.99551 5.50214 6.5% 19.56615 11.35480 8.71107 7.45573 6.75207 6.32068…
Calculating interest and APR of installment loan Assume that interest is the only finance charge. How much interest would be paid on a $8,000 installment loan to be repaid in 60 monthly installments of $178.10? Round the answer to 4 decimal places. _________ % per monthWhat is the APR on this loan? Round the answer to 2 decimal places. __________%
Q18 Say that you purchase a house for $206,000 by getting a mortgage for $185,000 and paying a $21,000 down payment. If you get a 25-year mortgage with an interest rate of 6 percent, what are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.)PAYMENT? What would the loan balance be in ten years? (Round the payment amount to the nearest cent but do not round any other interim calculations. Round your final answer to 2 decimal places.)LOAN BALANCE? If the house appreciates at 2 percent per year, what will be the value of the house in ten years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)FUTURE VALUE? How much of this value is your equity? (Do not round intermediate calculations and round your final answer to 2 decimal places.)Equity?
A mortgage of £180,000 is repaid over 20 years by equal monthly payments in arrears. The interest rate is i = 7.4% p.a. effective. Compute the monthly payment £ 数字 Enter an answer correct to 2 decimal places.
How much will you pay on a 25 year, $400,000 mortgage if you make monthly payment at the beginning of month? Interest is 3.5% compounded annually. O a. $1,968 O b. $1,973 OC. $1,979 O d. $1,997 O e. $1,991
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Suppose that the mortgage loan described in question 10 is a one-year adjustable rate mortgage (ARM), which means that the 10.5% interest applies for only the first year.If the interest rate goes up to 12% in the second year of the loan, what will your new monthly payment be?
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Intro You take out a 30-year fixed-rate mortgage for $400,000 with an interest rate of 7.2% (APR). Part 1 What is the monthly payment? Attempt 1/1 for 10 pts. 0+ decimals Submit