You secure a 20 -year FRM with an APR of 5.75 % on a mortgage loan of $ 190, 000 . Rounded to the nearest dollar , your monthly payments are $

Q: You have just taken out a 30-year mortgage on your new home for $120,000. This mortgage is to be…

A: Use financial calculator:The present value of mortgage = 120,000The future value when all the loan…

Q: Calculate the monthly payment for a 15 year mortgage of $100,000 at 6% interest.  Solve for PMT

A: PMT(periodic payment) A periodic payment is a payment or deposit made at regular intervals.…

Q: You secure a 20 -year FRM with an APR of 5.75 % on a mortgage loan of $190,000 . Rounded to the…

A: An agreement through which a lender lends the money to the borrower, and has the right to take the…

Q: You are purchasing a house and you are considering getting a fixed-rate mortgage (FRM) for $750,000.…

A: Required monthly payments for the mortgage is calculated using excel PMT function Required monthly…

Q: What size mortgage can you afford if you can make a monthly payment of $1,200 per month for 30…

A: Mortgage we can afford is present value of monthly payments

Q: Juliana is taking out an $8,700, 3year loan with an APR of 2.31%. What will be the monthly payment…

A: Monthly payment is refer as the regualr amount of fund or payments at monthly time interval. It is…

Q: Calculate the monthly mortgage payment. Round to the nearest cent. $180,000 is financed for 20…

A: Monthly payment refers to an amount that is paid ay every month by the borrower to the lender for…

Q: Determine the monthly payment if you take out a loan for $ 330000 with an annual interest rate of…

A: in this we have to calculate present value FACTOR and than find out monthly payment.

Q: A borrower obtains a fully amortizing loan for $80,000 at 10 percent for 7 year. Payments are…

A: A mortgage is a loan that allows a buyer to acquire a house or other real estate property and repay…

Q: uliana is taking out an $8,700, 3-year loan with an APR of 2.31%. What will be the monthly payment…

A: In this question we need to calculate the monthly payment for the loan .

Q: Determine the monthly payment if you take out a loan for $ 220000 with an annual interest rate of 9%…

A: Given information: Loan amount is $220,000 Annual interest rate is 9% Number of years is 15 years

Q: You purchase a cottage for $175,000. You obtain a 25-year, fixed-rate mortgage loan at 12.5% after…

A: A mortgage is a loan arrangement that allows a borrower to purchase a house or other real estate…

Q: Tom is going to borrow $20000 at an interest rate of 5.25% p.a. calculated quarterly. Tom will make…

A: The interest rate that has been compounded over a certain period is the effective annual interest…

Q: Consider a 30-year mortgage for $181,420 at an annual interest rate of 3.1%. What is the remaining…

A: The time period of the mortgage is 30 years the amount of  mortgage is $181,420 The annual interest…

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: What would be the monthly payment on a 20-year, $140,000 mortgage loan if the rate was 3.5%, monthly…

A: A written agreement through which a lender gets the right to take the property that is put as a…

Q: What will be the monthly payment on a home mortgage of $75,000 at 12% interest, to be amortized over…

A: Loan amount (P) = $75,000 Interest rate = 0.12 Monthly interest rate (i) = 0.01 (i.e. 0.12 / 12)…

Q: ABC mortgage is to obtain a facility amounting to $200000 to be repaid over a period of 20 years at…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: You borrow $90,000; the annual loan payments are $12,852.25 for 30 years. What interest rate are you…

A: Interest :  It is the total amount payment on loan taken or fund borrowed by any person . it may be…

Q: What is the annual percentage rate ( APR) of the loan?

A: The annual percentage rate is an annual interest rate used to represent the cost of borrowing. It…

Q: If you need a loan for $16000 and make a down payment of 5%, then finance the balance with a 3-year…

A: A loan indicates the sum borrowed to meet the specific personal or business needs. The loan is…

Q: Find the monthly payment needed to amortize a typical $105,000 mortgage loan amortized over 30 years…

A: We need to determine the monthly payment as well as the interest component.  Given, Interest rate =…

Q: A worker is considering a loan of $97000 over 20 years at an interest rate of 7.9% p.a. with monthly…

A: The difficulty of distributing limited resources among numerous initiatives or investments is one…

Q: calculate the mortgage payment for a home mortgage price costing $ 280,000. Calculate the payment…

A: A mortgage is a kind of loan that a lender or financial institution offers to people or companies to…

Q: Find the monthly payment needed to amortize a typical $180,000 mortgage loan amortized over 30 years…

A: A mortgage refers to a covered loan that is borrowed for the purchase of a property with the…

Q: A borrower has secured a 30 year, $131.000 loan at 8% with monthly payments. Fifteen years later,…

A: Loan Amount = $131,000 Time period = 30 Years  Interest rate = 8%

Q: Suppose that your unsubsidized Stafford loans plus accumulated interest total $35000 at the time you…

A: Loan amount is $35000 Interest rate is 9%  Time period is 10 years To Find: Fixed Monthly repayment

Q: Calculate the monthly mortgage payment. Round to the nearest cent.   $190,000is financed for 30…

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

Q: Determine the monthly payment if you take out a loan for $ 180000 with an annual interest rate of…

A: Loan amount (PV) = $180,000 Interest rate = 8.25% Monthly interest rate (r) = 0.0825/12 = 0.006875…

Q: Find the monthly payment needed to amortize a typical $220,000 mortgage loan amortized over 30 years…

A: COMPOUNDED MONTHLY RATE (5.3%/12) 0.441667% YEARS  (12*30) 360 PRESENT VALUE $220,000…

Q: How much interest would you be paying in the 75th month?

A: Amortization is the process of repaying the loan over time. In an amortizing loan, a portion of each…

Q: Consider a 20-year mortgage for $174,334 at an annual interest rate of 5%. After 8 years, the…

A: Time period = 20 years  Value of mortgage = $174,344 Annual interest rate = 5% Refinancing time…

Q: You can afford to pay $15,000 at the end of each of the next 30 years to repay a home loan. If the…

A: Present value of annuity is the current worth of future annual cash flows over a period of time at a…

Q: received a 20-year, $500,000 mortgage with a 12% annual interest rate (APR). What portion of the…

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

Q: You obtain a 30-year loan at a fixed annual 8% on a $100,000 condo where the required down payment…

A: GIVEN, n=30 R=8% PRICE=$100,000 DOWNPAYMENT=$5000 M=12

Q: You are buying a house priced at $654,125. You plan to pay 20% of the price for down payment and…

A: A mortgage loan is a loan provided by a bank or lending institution to a borrower for the purpose of…

Q: A borrower has secured a 30 year, $131,000 loan at 8% with monthly payments. Fifteen years later,…

A: Loan Amount is $131,000 Time Period of Loan is 30 years Interest Rate is 8% Compounding Period is…

Q: Calculate the monthly mortgage payment. Round to the nearest cent.  $120,000 is financed for 15…

A: The objective of this question is to calculate the monthly mortgage payment for a loan amount of…

Q: Consider a 20-year mortgage for $142,044 at an annual interest rate of 5.2%. After 8 years, the…

A: Original Time period of mortgage is $142,044 Annual interest rate is 5.2% Annual refinancing…

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: Find the monthly payment needed to amortize a typical $90,000 mortgage loan amortized over 30 years…

A: Monthly payment refers to the amount that is paid every month for the repayment of the loan amount…

Q: Find the monthly payment needed to amortize a typical $245,000 mortgage loan amortized over 30 years…

A: Interest is the amount paid on the loan amount over a period of time. It can be compounded annually,…