Question #9: Exercise 45: Accelerated Loan Payment. Suppose you have a student loan of $30 000 with an APR of 9% for 20 years What are your required monthly payments? ANSWER: $ What will your total payment be for the 20-year term? ANSWER $ Suppose you would like to pay the loan off in 10 years instead of 20 What monthly payments will you need to make? ANSWERS What will your total payment be for the 10-year term? ANSWER: 5

Question #9: Exercise 45: Accelerated Loan Payment. Suppose you have a student loan of $30 000 with an APR of 9% for 20 years What are your required monthly payments? ANSWER: $ What will your total payment be for the 20-year term? ANSWER $ Suppose you would like to pay the loan off in 10 years instead of 20 What monthly payments will you need to make? ANSWERS What will your total payment be for the 10-year term? ANSWER: 5

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

Give typing answer with explanation and conclusion Assume you want to borrow $300,000 and have been presented with two options. The first option is a fully amortizing loan with an interest rate of 3% and $4000 of origination fees and points. The second option is an interest only loan with an interest rate of 4% and $5000 of origination fees and points. Both loans are for 30 years and have monthly payments. Further assume that if the borrower chooses the interest only loan, any money saved on the monthly payment can be invested with a projected return of 7%. Also assume that the proceeds from the investment will first be used to pay off any remaining balance on the loan. How much money will the investor have left at the end of 30 years after repaying the loan? Group of answer choices None, the investor will owe $12,373.42 $323,060.72 $22,063.08 $30,750.78
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $80,000 loan. Option 1: a 30-year loan at an APR of 8.15%. Option 2: a 15-year loan at an APR of 7.75%. Question content area bottom Part 1 Find the monthly payment for each option. The monthly payment for option 1 is $ enter your response here. The monthly payment for option 2 is $ enter your response here.
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If you could solve option 5 with the formulas please Option 5: Half the required money is taken out of an investment account that pays monthly interest at a 3% annual rate. The rest of the money is borrowed from a bank at a 4% annual interest rate, should payback within 3 years in equal monthly payments. Find the future value of the money taken from the investment account at the end of the shop development and periodic payments to the bank. Calculate Cumulative interest and principal payments.
You need a 19000 loan option 1 a 30 year loan at apr of 7.5 option 2 a 15 year loan at apr of 6.5 what is the monthly payment for option 1 what is the monthly payment for option 2 what is the total payment of each which loan is better
To pay for your education, you've taken out $24 comma 00024,000 in student loans. If you make monthly payments over 1212 years at 66 percent compounded monthly, how much are your monthly student loan payments? Question content area bottom Part 1 Your monthly student loan payments are $enter your response here. (Round to the nearest cent.)
K Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $110,000 loan. Option 1: a 30-year loan at an APR of 9.5% Option 2: a 15-year loan at an APR of 9% Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
When purchasing a $100,000 house, a borrower is comparing two loan alternatives. The first loan is an 80% loan at 4% with monthly payments of $591.75 for 15 years. The second loan is 90% loan at 5% with monthly payments of $526.13 over 25 years. What is the incremental cost of borrowing the extra money assuming the loan will be held for the full term? O 6.50% O 13.21% O 7.20% O 13.70%
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