Pat Lavoie bought a home for $180,000 with a down payment of $10,000. Her rate of interest

Question:

Pat Lavoie bought a home for $180,000 with a down payment of $10,000. Her rate of interest is 6% for 30 years. Calculate her

(a) Monthly payment

(b) First payment, broken down into interest and principal; and

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

See More Books

Question Posted: Apr 30, 2013 09:05 AM

See More Questions

Provide step-by-step details on how to Integrate BIND and Windows DNS on the same network. Q.2.1 You work for a Non-Profit Organisation (NGO) which has grown a lot over the last five years. This NGO...
At the end of the month, Grant Entertainment Company showed a $11,900 book balance in its cash account. The following information was gathered by studying the bank statement and the company's cash...
The price of pizza is pz = 20 per unit. (a) Donna spends all of her income, 100 dollars, on pizza (z) and tacos (t). Donnas utility function is U(z, t) = z 0.9 t 0.1 . (a.1) Derive Donnas demand...
If you could choose, which type of school would you want your imaginary child(ren) to attend?
Cynthia Gaskill is the owner of a clothing store that caters to college students. Through informal conversations with her customers, she has begun to suspect that a video game rental store...
Specialised Manufacturing Company (SMC) is a large firm that manufactures large quantities of a single product. We-do-everything Manufacturing Company (WMC) is a large firm which manufactures large...
2. The portion of the constructive gain or loss on Sun bonds that remains unrecognized on the separate books of Pam and Sun at December 31, 2016, is: a $24,000 b $21,600 c $21,000 d $18,400
Assume that on January 2, 2012, Barrett of Nebraska purchased fixtures for $8,200 cash, expecting the fixtures to remain in service for five years. Barrett has depreciated the fixtures on a...
Acquisitions and other investing activity\ -0.4 \ Cash from investing activities\ -2.6_() \ Financing activities\ Dividends paid\ -1.5 \ Sale or purchase of stock\ Increase in short - term borrowing\...
Ron Christian and his wife, Kay established a carwash, Crossroads on 20 acres of worthless desert land 30 years ago on the outskirts of El Paso. They would have never imagined the urban sprawl that...
Bob Bryan made deposits of $10,000 at the end of each quarter to Lion Bank, Which pays 8% interest compounded quarterly. After 9 years, Bob made no more deposits. What will be the accounts balance 4...
Jen Logan bought a home in Iowa for $110,000. She put down 20% and obtained a mortgage for 30 years at 5 %. What are Jens monthly payments and total interest cost of the loan?
Based on the scale of measurement for each variable listed below, which measure of central tendency is most appropriate for describing the data? (a) The time (in years) it takes a sample of students...
Why is it critical to immediately contact your Engagement Partner when you suspect or identify non-compliance? He or she will ensure that the non-compliance doesn't affect the Client's reputation He...
Question 9: Determine the current and its direction, in each resistor, for the circuit shown below. Show your calculations. R=152 9.0 V + 12V ww R=75 2 R3= 50
how can The High - Tech Way To Recycle Clothes sustainable. and what they offer and what are their ecofriendly
James Bondbuyer purchases a Treasury bond on Monday, May 2, regular way settlement. The bond pays interest on January 15 and July 15. How many days of accrued interest will be owed to the seller? A...
Aviation and air traffic control have come a long way in the last 100-years. Some believethat we have reached a plateau and that growth in aviation will stop. Aviation may go the way of the railroads...
Statement of Stockholders Equity Refer to all of the facts in Problem 11-1A. Required Develop a statement of Stockholders Equity for Kebler Company for 2008. The statement should start with the...
Give the products of the following reaction, where T is tritium: dioldehydrase Ad- CH CH3C-COH CoIII) coenzyme B12
Efficient Markets Hypothesis A famous economist just announced in the Financial Times his findings that the recession is over and the economy is again entering an expansion. Assume market efficiency....
Find P for the following cash flow diagram. 1000 1000 1000 1000 400, 400 300 200 300 200 0-1-2-3-4--6-7-8-9-10-11-12-13- - 8% P.
The annual income from a rented house is $12,000. The annual expenses are $3000. If the house can be sold for $145,000 at the end of 10 years, how much could you afford to pay for it now, if you...
Consider the following cash flow. At a 6% interest rate, what is the value of P, at the end of Year 1 that is equivalent to the benefits at the end of Years2 through 7? Year Cash Flow 1 -P 2 +100 3...
Industry Current Year Minus 1 Current Year Minus 2 Company: Air Products and Chemicals, Inc. (APD) Stock Price: 306.72 USD Shares Outstanding: 220.89 M Financial Ratios Most Current Year Current...
Assume the market portfolio of common stocks earned 14.1 percent in one year while U.S. Treasury bills earned 4.4 percent and inflation averaged 4.6 percent. What was the market risk premium?
A bank quotes you an interest rate of 9 . 5 % per annum with quarterly compounding. What is the equivalent rate with continuous compounding?

Pat Lavoie bought a home for $180,000 with a down payment of $10,000. Her rate of interest

Question:

Step by Step Answer:

Using Calculator do deal this problem Monthly payment is 101924 Ending balance of m...View the full answer

Personal Finance

Students also viewed these Accounting questions