Question
1)Suppose you obtain owner financing on a fixer-upper Cost is $76,000.You make monthly payments based on a 10 year term @8% APR. What is the
1)Suppose you obtain owner financing on a fixer-upper Cost is $76,000.You make monthly payments based on a 10 year term @8% APR. What is the balloon payment due in 3 years?
PV APR CF Years N Pmt FV $ 165,000 8.75% 12 30 360 ($1,298.06) $ $ 165,000 8.75% 12 5 60 ($1,298.06) $ 200.00 $ 157,887 8.75% 12 10 120 ($1,498.06) $ 91,717 8.75% 12 6.78 81.40 ($1,498.06) ($157,886.73) ($91,716.58) $0.00
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
