QUESTION 19 Clark and Lana take a 30-year home mortgage of $128,000 at 7.8%, compounded monthly. They make their regular monthy paymerts month 5 years, then decide to pay S1300 per Match the question with the answer there are more answers than questions v What is their regular monthly payment? What is the unpaid balance when they begin paying the $13007 How many payments of $1300 wit take to pay of the loan? How much interest will they save by paying the loan this way? AS11,780.16 B. 144.27 monthly peyments C.$242.841.98 D.S 88,874.36 E.S 331,716.33 F $ 921.43 G. 76.35 monthly payments HS 8943 L$121 462.80

QUESTION 19 Clark and Lana take a 30-year home mortgage of $128,000 at 7.8%, compounded monthly. They make their regular monthy paymerts month 5 years, then decide to pay S1300 per Match the question with the answer there are more answers than questions v What is their regular monthly payment? What is the unpaid balance when they begin paying the $13007 How many payments of $1300 wit take to pay of the loan? How much interest will they save by paying the loan this way? AS11,780.16 B. 144.27 monthly peyments C.$242.841.98 D.S 88,874.36 E.S 331,716.33 F $ 921.43 G. 76.35 monthly payments HS 8943 L$121 462.80

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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QUESTION 15 Ann buys a property that costs $1,000,000. She finances the purchase with a 70% LTV mortgage. She gets a 20 year interest only fixed rate mortgage at an annual interest rate of 5%, with annual compounding and annual payments. Ann must pay 2 points upfront in mortgage closing costs (as a % of the loan amount). The loan has a 5/4/3/2/1 prepayment penalty structure (she must pay a 5% penalty if she prepays at any time in the first year, 4% penalty in the second year, etc). Suppose Ann will sell the property during year 3, after she makes the 3rd year's mortgage payment and pays off the balance when she sells. What is Ann's annualized IRR for the loan? A. 5.74% B. 6.69% C. 5.10% D. 5.00%
Calculation question take home $3,200.00 per month. You purchase a home, taking out a $250,000.00 mortgage. The deal is 2% annual interest for the first 24 months of your 30 year mortgage, then the rate goes to 8%. What is your initial monthly payment? (2% annual interest, 30 year loan, monthly payment)) Assume it is 2023 and you are comfortable in your new job from which you
#9 You have been shopping for a new home. You have a choice of financing. You can chose either a $200,000 mortgage at a 4.75% for 30 years, or a $200,000 mortgage at 3.5 percent for 15 years. a. Calculate the monthly payment for both the 30-year and 15-year mortgages. b. Calculate the amount of interest paid over the life of the loan for both mortgages. c. Chose the best mortgage for you and explain your answer.
Vinay
Question 1 A family has a 30-year $880, 000 mortgage at 8% compounded monthly. (1) Find the monthly payment and the total interest paid (2) After 10 years, suppose the family decides to add an extra $150 to its mortgage payment each month. How long will it take the family to pay off the remain mortgage? (3) How much interest will the family save?
please help me fast so that I will give Upvote
A 14.
Question 4 Jim and Nancy just got married today. They want to start saving so they can buy a house five years from today. The average house in their town today sells for $150,000. Housing prices are expected to increase 4.5 percent a year. When they buy their house five years from now, Jim and Nancy expect to get a 30-year (360-month) mortgage with a 7 percent nominal interest rate. They want the monthly payment on their mortgage to be $700 a month. Jim and Nancy want to buy an average house in their town. They are starting to save today for a down payment on the house. The down payment plus the mortgage will equal the expected price of the house. Their plan is to deposit $2,500 in a brokerage account today and then deposit a fixed amount at the end of each of the next five years. Assuming that the brokerage account has an annual return of 8 percent, how much do Jim and Nancy need to deposit at the end of each year in order to accomplish their goal?
None
Time to repay installment loan Personal Finance Problem Mia Salto wishes to determine how long it will take to repay a $18000 loan given that the lender requires her to make annual end-of-year installment payments of $3906. a. If the interest rate on the loan is 11%, how long will it take for her to repay the loan fully? b. How long will it take if the interest rate is 8%? c. How long will it take if she has to pay 14% annual interest? d. Reviewing your answers in parts a, b, and c, describe the general relationship between the interest rate and the amount of time it will take Mia to repay the loan fully.
Question Two ii. ii. Ms. Duke is borrowing 12,000 at a compound annual interest rate of 17%. Determine the annual payment to amortize the loan, if she is offered 7 years. At 8% compounded annually, how long will it take 750 to double? A friend plans to buy a big-screen TV/entertainment system and can afford to set aside 1,320 toward the purchase today. If your friend can earn 15%, compounded yearly, how much can your friend spend in four years on the purchase? What would you pay to own a guaranteed income of C1500 per year to be received forever, if interest rates are 14%? At what rate must 500 be compounded annually for it to grow to ¢716.40 in 5 years? Explain the concept of time value of money in line with the financial manager" corporate objective S
Mortgage, part 1 (The Loan)5 years ago you purchased a home for $215,000. You made a 10% down payment and paid for the rest with a 30 year mortgage with a rate of 4.65%. How much was the down payment? How much of the purchase price did you finance with the loan? What is your monthly payment? Use solver. Clearly write the formula you will use as well as all values used in the formula. How much of the loan is left to pay after the first 5 years? Use solver. Clearly write the formula you will use as well as all values used in the formula. How much did you pay to the lender (total) over the first 5 years? How much of what you paid to the lender in the first 5 years was interest? If you paid this loan for all 30 years, how much interest would you pay?

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