You just closed on a $209,927 home in Cincinnati, Ohio. Now you have a 30-year mortgage with an APR of 10.53 percent per year with monthly compounding. How much will you still owe after 15 years of payments? O $173,852.18 O $139,081.74 O $346,499.06 $208,604.37 O $104.963.50

Q: You have just sold your house for $ 1 comma 100 comma 000 in cash. Your mortgage was originally a…

A: The objective of this question is to find out how much cash will be left after paying off the…

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

A: The objective of the question is to find out the outstanding balance on the mortgage today.

Q: When you purchased your house, you took out a 30-year mortgage with an interest rate of 4.8% per…

A: Payoff amount refers to the amount which is required to be paid as principal amount of the loan. The…

Q: You just bought a house for $334, 000 with a 12% down payment. The remainder is financed by a fully…

A: Cost of the house = $334,000Down payment = $334,000 x 12% = $ 40,080Loan amount = cost of the house…

Q: A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero…

A: Mortgage refers to the covered loan borrowed for the purchase or the maintenance of the property…

Q: You are buying your first condo for $250, 000 and you will make a $50, 000 down payment. You have…

A: Loan amount = Purchase price - Down paymentMonthly interest rate = Nominal interest rate / Number of…

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

A: Present value is the value of loan or future periodic payments at the present date.

Q: You took out a mortgage for $600,000. You need to pay $5,873 every month for 15 years. The monthly…

A: A mortgage payment is requireds payment per month at the end of each period. Hence it uses the…

Q: You borrowed $467,000 to buy a home on a 30-year mortgage with interest rate of 7.2 percent. You…

A: Here, BorrowedAmount $ 467,000.00Time Period in years30Interest Rate7.20%Compounding Period…

Q: An investor purchased a house 10 mortgage loan for $300,000. The m of 5 percent compounded monthly…

A:

Q: A family has a $134,345, 25-year mortgage at 5.1% compounded monthly. (A) Find the monthly payment…

A: Mortgage is a loan to buy a property or asset. The mortgage repayment in equal amount is an annuity…

Q: You have just purchased a new warehouse. To finance the purchase, you've arranged for a 25-year…

A: Annual percentage rate refers to the cost which is charged on the loan amount by the lender from the…

Q: mortgage loan require you to pay $489.44 per month at 6% interest per annum. If you hold condo for…

A: Mortgage are secured loans against and are paid by equal monthly payments and these carry the…

Q: The discount rate is _ % per month. (Round to five decimal places.) The monthly mortgage payment is…

A: A mortgage payment is a regular commitment that a borrower makes to a lender in order to pay back a…

Q: Alex would like to purchase a new car for $15,000. How much will his monthly payments be if he took…

A: Given The cost of new car is $15,000 Term of loan is 3 years Interest rate is 7%

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

A:

Q: What are your monthly payments if the mortgage is for 30 years and the nominal annual mortgage…

A: Information provided: Principal amount = $150,000 Term = 30 years Interest rate = 5.50%

Q: Suppose you are buying your first home for $144,000, and you have $17,000 for your down payment. You…

A: purchasing price = $144,000 down payment = $17,000 loan amount = $144,000 - 17,000…

Q: You’ve just taken out the $100,000, 30 yr mortgage at 6%.  When will the mortgage be paid in full…

A: Loans are paid by equal monthly payments which carry the payment of interest and payment of…

Q: You take out a mortgage for $320,000 at 3% compounded monthly. What are your monthly payments if the…

A: Mortgage (P) = $320,000 Monthly rate of interest (r) = 0.0025 (0.03 / 12) Monthly Period of mortgage…

Q: You bought a house and need a mortgage for $1,014,597. The interest rate on the mortgage is 2.5% and…

A: Compound = 24Principal Amount = p = $1,014,597Interest Rate = r = 2.5 / 24 %Number of Payment = n =…

Q: Donelle just purchased a new home with a $400,000 mortgage with a fixed rate of 8.5% (APR) and a…

A: M is the total monthly mortgage payment.P is the principal loan amount (which is $400,000 in this…

Q: You just took out a 15-year traditional fixed-rate mortgage for $300,000 to buy a house. The…

A: Mortgage amortization:Mortgage amortization is a structured repayment process for home loans that…

Q: You want to buy a house and will need to borrow $295,000. The interest rate on your loan is 6.37…

A: Here, Borrowed Amount (PV) is $295,000 Interest Rate (r) is 6.37% Compounding Period (m) is Monthly…

Q: If I purchase a home for $150,000. I do a fixed 30-year mortgage at 6%. I have to put down 10% or…

A: Monthly payment = Loan Amount/Annuity factor Annuity factor = (1 - (1+r)^(-n) )/r r = monthly…

Q: Let’s assume that you plan to purchase a house which is selling for $350,000 today. You will make a…

A: Formulas that are used:-

Q: You want to buy a house that costs $290,000. You will make a down payment equal to 10 percent of the…

A: Mortgage payments are the monthly payments that a borrower makes to repay their mortgage loan. The…