Your real estate agent mentions that homes in your price range require a payment of approximately $1,000 per month over 30 years at 7% interest. What is the approximate size of the mortgage with these terms?
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- Assume that you are about to sell property (a vacant parcel of real estate) you own but otherwise have no use for. The net-of-sales-commission selling price for the property is $500,000. You are willing to finance this transaction over a 20-year period and have told the buyer that you expect a 12% pretax return on the transaction. The buyer has asked you for a payment schedule under several alternatives. Required: 1. What will be your periodic cash receipt, to earn a 12% return, if payments are received from the purchaser: NOTE: to answer the above questions, use the PMT function in Excel, as follows: PMT(rate,nper,pv,fv,type) where: rate is the interest rate for the loan, nper is the total number of payments, pv is the present value (i.e., the total amount that a series of future payments is worth now; also known as the principal), fv is the future value (or a cash balance you want to attain after the last payment is made; if fv is omitted, it is assumed to be 0 (zero)), and…Assume that you are about to sell property (a vacant parcel of real estate) you own but otherwise have no use for. The net-of-sales- commission selling price for the property is $470,000. You are willing to finance this transaction over a 19-year period and have told the buyer that you expect a 9% pretax return on the transaction. The buyer has asked you for a payment schedule under several alternatives. Required: 1. What will be your periodic cash receipt, to earn a 9% return, if payments are received from the purchaser: NOTE: to answer the above questions, use the PMT function in Excel, as follows: PMT(rate,nper.pv.fv.type) where: rate is the interest rate for the loan, nper is the total number of payments, pv is the present value (ie.. the total amount that a series of future payments is worth now, also known as the principal), v is the future value (or a cash balance you want to attain after the last payment is made; if fvis omitted, it is assumed to be 0 (zero)), and type is the…An investor has $60,000 to invest in a $280,000 property. He can obtain either a $220,000 loan at 9.5 percent for 20 years or a $180,000 loan at 9 percent for 20 years and a second mortgage for $40,000 at 13 percent for 20 years. All loans require monthly payments and are fully amortizing.a. Which alternative should the borrower choose, assuming he will own the property for the full loan term?b. Would your answer change if the borrower plans to own the property for only five years?c. Would your answers to (a) and (b) change if the second mortgage had a 10-year term?
- Suppose that the seller of a home has accepted your offer of $175,900 to purchase the home.Suppose you are going to make a down payment of $11,000 and take out a 30-year mortgagewith a fixed APR of 3.236% to cover the rest of the cost. (a) Calculate the total of your monthly payments (in dollars) over the 30 years. (b) If closing costs consist of 3 points and a fixed cost of $1562, how much will you pay inclosing costs in total?Suppose you take out a $117,000, 20-year mortgage loan to buy a condo. The interest rate on the loan is 5%. To keep things simple, we will assume you make payments on the loan annually at the end of each year. a. What is your annual payment on the loan? b. Construct a mortgage amortization. c. What fraction of your initial loan payment is interest? d. What fraction of your initial loan payment is amortization? e. What is the total of the loan amount paid off after 10 years (halfway through the life of the loan)? f. If the inflation rate is 3%, what is the real value of the first (year-end) payment? g. If the inflation rate is 3%, what is the real value of the last (year-end) payment? h. Now assume the inflation rate is 6% and the real interest rate on the loan is unchanged. What must be the new nominal interest rate? i-1. Recompute the amortization table. i-2. What is the real value of the first (year-end) payment in this high-inflation scenario? j. What is the real value of the last…A borrower can obtain an 80% loan with an 8% interest rate and monthly payments. The loan is to be fully amortized over 25 years. Alternatively, he could obtain a 90% loan at an 8.5% rate with the same loan term. The borrower plans to own the property for the entire loan term. solve with finanical calucltor What is the incremental cost of borrowing the additional funds? How would your answer change if 2 points were charged on the 90% loan? Would your answer to part (b) change if the borrower planned to own the property for only 5 years?
- You borrow $2mn at an interest rate of 5% per year to purchase a real estate property for the cost of $2.5mn. The borrowing costs are due only at the end of the year. (a) Suppose you sell the property for $2.7mn at the end of the year. What is the return on your equity?(b) Suppose the price of the property declines to $2.3mn after one year. What is the return on your equity?(c) Suppose the interest rate at which you can borrow is 1%. How do your answers change?Assuming the leasehold yield is 2% above the freehold yield, calculate the Years Purchase (YP) dual rate for 10 years if the accumulative rate is 3% and that a comparable freehold property let at full market rent of $40,000 has just been sold for $500,000. Hint: Analyse the market yield from the comparable first and then use it to calculate the required YP. 4.3872 7.3625 6.1250 5.3410You purchase a house for $1.3 million and take a mortgage for $1.05 million which will be amortized over 30 years. Your mortgage interest rate is fixed at 6% compounded monthly for a 5-year term and you will be making monthly payments. How much do you still owe at the end of the 5-year term (within $1000)? Use the method that calculates your mortgage balance based on the payments you have already made (as opposed to the payments you have remaining). OPPO A79 5G Rathod Kishan
- Suppose you intend to purchase a house worth $239,900 with a 30-year fixed rate mortgage. You have a down payment of 15%. (a) How much are you planning to finance? (b) Find the monthly payment needed to amortize the loan, at a rate of 2.4% compounded monthly. (c) Approximately how much of the loan will remain after 12 years?Using the "Human Life Value" method, how much life insurance should you purchase if you have 45 years until retirement, an annual income of $65,100 received at the start of each years, and a time value of money of 9%? (Assume 80% income replacement, ignore taxes and inflation.)Suppose you wish to have $18500 in 5 years. use the present value formula to find out how much you should invest now at 9% interest, compounded semiannually, in order to have $18,500, 5 years from now. Then calculate the interest. The possible answers are: a. 6587.34 b. 8325.00 c. 10175.00 d. 11912.66 I understand how to do the present value formula but after that I don't understand how to calculate the interest, please help!
