You have purchased an apartment unit for $280,000. You made a down payment of 25% and financed the balance by amortizing over a 25 year period. The interest rate was 3.25% compounded semi-annually for a 5-year term. a) Calculate the monthly payments. b) Calculate the balance at the end of the 5-year term. c) Calculate the monthly payments if the mortgage is refinanced with the new 3-year rate of 4.59 % compounded semi-annually. d) What is the balance at the end of the 3-year term?

You have purchased an apartment unit for $280,000. You made a down payment of 25% and financed the balance by amortizing over a 25 year period. The interest rate was 3.25% compounded semi-annually for a 5-year term. a) Calculate the monthly payments. b) Calculate the balance at the end of the 5-year term. c) Calculate the monthly payments if the mortgage is refinanced with the new 3-year rate of 4.59 % compounded semi-annually. d) What is the balance at the end of the 3-year term?

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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Consider a home mortgage of $125,000 at a fixed APR of 4.5% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. ..... a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)
Suppose that a house was purchased with the buyer taking out a 20 year,$350,000 mortgage at 3% interest compounded monthly.(i) What will the monthly payments be?(ii) Find the total amount of interest paid when the loan is amortized over 20 years.
The balance on a mortgage was $42,600 and an interest rate of 4.25% compounded semi-annually was charged for the remaining 3-year term. Monthly payments were made to settle the mortgage. a. Calculate the size of the monthly payments. Round up to the next whole number b. If the monthly payments were set at $1,412, how long would it take to pay off the mortgage? Express the answer in years and months, rounded to the next payment period (C). If the monthly payments were set at $1,412, calculate the size of the final payment.
5) You have a 25-year $800,000 mortgage that you make monthly payments on. The quoted rate of is 4.54% compounded semi-annually. Show the amortization table for the first 3 payments. How much interest payments have you done after the first 3 payments. What is the balance of the loan at the end of year 12?
What is the value accumulated at the end of 30 years if $300 deposited at the end of each month in a mutual fund account that earns 12 percent annually during the period. Ans. A mortgage calls for monthly payments of $970.30, including interest at 7.6 percent. The current value of the mortgage is $95,258.72. Approximately how long will it take to fully amortize the mortgage? Ans. An income-producing property is priced at $550,000 and is expected to generate the following after-tax cash flows: Year 1: $50,000; Year 2: $55,000; Year 3: $60,000 and $600,000. Calculate the annual IRR for this investment opportunity. Ans.
please help
Suppose you obtain a 20-year mortgage loan of $196,000 at an annual interest rate of 7.9%. The annual property tax bill is $966 and the annual fire insurance premium is $488. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)
Suppose you obtain a 30 year mortgage loan of 197,000$ at an annual interest rate of 8.1%. The annual property tax bill is $967 and the annual fire insurance premium is 495$. Find the total monthly payment for the mortgage, property tax, and fire insurance.
You bought a house for $1,000,000. You paid 20% as the down payment and financed the rest. The mortgage loan has 30 years maturity and 4% APR which is compounded monthly. Use Excel Spread sheet to amortize the loan and find out the monthly principle and interest payments through out the life of this loan. I need this on an excel spreadsheet
The balance on a mortgage was $45,000 and an interest rate of 4.50% compounded semi-annually was charged for the remaining 5-year term. Monthly payments were made to settle the mortgage. a. Calculate the size of the monthly payments. Round up to the next whole number b. If the monthly payments were set at $939, how long would it take to pay off the mortgage? o years o months Express the answer in years and months, rounded to the next payment period c. If the monthly payments were set at $939, calculate the size of the final payment.
The balance on a mortgage was $43,200 and an interest rate of 5.50% compounded semi-annually was charged for the remaining 3-year term. Monthly payments were made to settle the mortgage. a. Calculate the size of the monthly payments. SO Round up to the next whole number b. If the monthly payments were set at $1,454, how long would it take to pay off the mortgage? 0 years 0 months Express the answer in years and months, rounded to the next payment period c. If the monthly payments were set at $1,454, calculate the size of the final payment. $0.00 Round to the nearest cent

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