Question
Answer the 3 questions please :) What is the monthly payment on a 20-year fixed-rate mortgage if the original balance is $260,000 and the rate
Answer the 3 questions please :)
What is the monthly payment on a 20-year fixed-rate mortgage if the original balance is $260,000 and the rate is 4.35 percent?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
What is the monthly payment on a 20-year fixed-rate mortgage if the original balance is $260,000 and the rate is 4.35 percent?
Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
A homeowner took out a 25-year fixed-rate mortgage of $200,000. The mortgage was taken out 6 years ago at a rate of 7 percent. If the homeowner refinances, the charges will be $3,300. What is the highest interest rate at which it would be beneficial to refinance the mortgage?
Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.
Consider a 20-year, $95,000 mortgage with an interest rate of 5.60 percent. After seven years, the borrower (the mortgage issuer) pays it off. How much will the lender receive? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Consider a 30 -year, $165,000 mortgage with a rate of 5.85 percent. Eight years into the mortgage, rates have fallen to 5 percent. What would be the monthly saving to a homeowner from refinancing the outstanding mortgage oalance at the lower rate? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. A homeowner took out a 25 -year fixed-rate mortgage of $200,000. The mortgage was taken out 6 years ago at a rate of 7 percent. If the homeowner refinances, the charges will be $3,300. What is the highest interest rate at which it would be beneficial to refinance the mortgage? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal placesStep by Step Solution
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