k Own money = 100k Bank loan = 500k 15 year fixed rate mortgage at 2.4%pa monthly compound How much principle left on mortgage after 3 years Payments start one mo

Q: consider a mortgage loan for 180,000 what is the payment if it has a 15 yr ratest 3.5% with closing…

A: Point It refers the upfront payment made by the borrower to the lender so as to reduce the interest…

Q: What is the monthly house payment on a 15 year $190,000 mortgage at 6.75% annual interest?

A: Given details are : Loan Amount = $190000 Time period = 15 years Interest rate = 6.75% From these…

Q: You borrowed money from the bank with a simple interest 8%, find the present worth of P25,000, which…

A: In Simple Interest Case, FV = PV + (PV x r x n) FV = PV x {1 + (r x n)} Therefore, PV = FV / {1 + (r…

Q: aa.2

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Q: A man secured a ₱ 9,771 loan at 2 % interest rate. Find the annual amortization to extinguish it in…

A: Present Value of Annuity Due refers to a concept which determines the value of cash flows at present…

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A: Annuities are financial contracts that provide a stable cash flow, typically to retirees. The…

Q: Present value Years of stay Rent per year (3 years) Rent for year 4 & 5 Expenses in year 3 Sale…

A: The problem case focuses on calculating the net present value (NPV)  of the investment and…

Q: aa.2

A: The objective of this question is to calculate the monthly payment for a 15-year fixed loan at an…

Q: Find the monthly payment for the loan. A $504000 hone bought with a 20% down payment and the…

A: To calculate the monthly we will use below formula   Monthly payment = P/[1-(1+r)-n]/r Where P -…

Q: You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your…

A: PV is the worth of a sum of money in the present, as opposed to the value it will have in the future…

Q: w much interest will you save, what date will the entire loan get paid how much was the total…

A: Option -1   Loan amount $200000 Rate of Interest up to 7 years 3.50% Rate of Interest…

Q: How much the monthly payment on a $114,000 home be if you get 4.1% interest over a 15 year loan with…

A: Here, Loan Amount is $114,000 Interest Rate is 4.1% Time Period of Loan is 15 years Compounding…

Q: monthly payment

A: Monthly payment refers to the amount due or to be paid to holders on monthly basis based on the…

Q: uy house price 2 million dollars Funds available 400k What is the monthly payment starting 1 month…

A: Given information : Price of house 2000000 Funds available 400000 Loan amount 1600000 Time…

Q: e Rapinder obtained a mortgage loan was for $245,000 less a down payment of 20%. The loan is to be…

A: The loans are paid by the monthly payments and these are equal monthly payments that carry the…

Q: Sales prIce = S495 000 Interest Rate on 1st mortgage 4 250% Interest Rate on HELOC 2. mortgage 4.00%…

A: A loan is a sort of debt that is taken on by an individual or another institution. The lender, which…

Q: You have a student loan of 40,0005s that you want to repay in 10 years interest rates are at year…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: What is the monthly house payment on a 10 year $225,000 mortgage at 7.5% annual interest?

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A: Value of loan is the present value of payments done based on time value of money and interest rate…

Q: You purchase a home for $436,000 by making a down payment of 15% and financing the remaining amount…

A: Particulars Amount ($) a Value of House 436000   Less:    b Down Payment @15% 65400 c…

Q: APPLIANCES LOAN Cash Price: PhP 20,335 Down payment: 0% How much must be paid monthly for 3 years to…

A: Loan amortization schedule is referred as the tabular presentation of loan, which have an EMI…

Q: What is the loan payment on a fixed-rate/fixed-term mortgage loan of $250,000 at 8% for 15 years?…

A: When the borrower borrows a loan from the lender, he has to pay a rate of interest on the borrowed…

Q: Jack borrows $7,000.00 at an interest rate of 15% compounded monthly to be paid off monthly payment…

A: Answer Correct option $6,467.70

Q: How many months will it take you to pay off a loan of $17,000 at 7% APR compounded monthly if you…

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Q: 6 month loan with 6% interest rate. Amount of loan is $4800. What is interest on one month?

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Q: i. How much interest will you pay on the loan ii. If the interest is compounded once a year instead…

A: Hi There, Thanks for posting the question. As per our Q & A honour code, we must answer the…

Q: loan amount = 10,000$ periods= 5 years interest is 5% and it increases each month by 0.125% find…

A: Interest Expense: The cost of debt which is occurred during a particular period of time is called…

Q: Amortization Problem Loan Amount: $150,000.00 Loan Term: 30 Years Interest Rate: 4.00% APR N PV PMT…

A: Given: Amortization Problem   Loan amount $150,000 Loan term 30 Interest rate 4%

Q: A loan of $7 000 at annual rate of 3.9% compounded weekly is being paid on a monthly basis for a…

A: Loan (L) = $7000 Interest rate = 3.9% weekly compounded n = 6 year = 72 monthly payments Let M =…

Q: Price of the house is 5000 mortgage interest rate is 2.3 terms of mortgage 13 years. What will the…

A: Annuity refers to a regular stream of payments being made for a definite period. When the payments…

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: You borrow $14,000.00 to buy a car at 8.9% compounded quarterly. You'll repay the loan in equal…

A:

Q: To purchase a house for $215 000, you make a 15% down payment and finance the rest with a mortgage…

A: Given, Purchase Price = $215,000 Down Payment = 15% of $215,000 = $32,250 Loan Amount =…

Q: What is the monthly house payment on a 10 year $210,000 mortgage at 7% annual interest?

A: In the above problem we needs to calculate the monthly payment on mortgage of $210000

Q: Finance A borrower takes out a 30-year mortgage loan (with monthly payments) for $300,000 with an…

A: A discount point: A discount point is earned by paying 1% of the mortgage value. It typically…

Q: What amortization payment (in $) would you need to make each month at 12% interest compounded…

A: MONTHLY PAYMENT (PMT) FORMULA: PMT=P×rm1-1+rm-m×n P=principal  r=rate of interest m=frequency of…

Q: Camalete the table by solving the amortization of the loan for six months onty. IL A loan of P20,000…

A: A type of loan in which the borrower has to make a schedule for the periodic payment regarding both…

Q: Caculate the amount of interest paid on a loan of $25,000 with a rate of 4.5% compounded monthly for…

A: GIVEN, LOAN (P) = $25,000 R=4.5% N=10 YEARS M = 12( MONTHLY COMPOUNDING)

Q: Mortgage is $100000 for 30 years. Interest is 0.6% per month. Calculate monthly payment   Please…

A: Amount to be paid per month = ( Amount borrowed + Total interest amount )  / ( years * 12 )

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.