Question: Assuming you have graduated and started working for several years. You started as an executive and now has been promoted to an assistant manager in

Assuming you have graduated and started working for several years. You started as an executive and now has been promoted to an assistant manager in your present company due to your good performance. One day you came across an apartment and a landed house that you are interested in. After giving some careful thought, you decided to purchase one of the properties and plan to get a loan from a bank. The property may be the biggest purchase you will ever make so far. Answer the following questions:

Calculate the monthly installment payment assuming you decided to purchase one of the property which costs $400,000 with a down payment of 20% and a term of 30 years. Assumed that the interest charged is 5%. Is there any other cost involved? Create an amortization table and show all your calculation/work for the first two years.

Step by Step Solution

★★★★★

3.39 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

We create the amortization schedule on an excel spreadshee... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Banking Questions!

So far at your new job, you have landed nine sales contracts with an average price of $3,782 and a standard deviation of $1,290. a. Identify a reasonable idealized population that this sample...

Your company has an existing loan with monthly payments, principal and interest, of $1,888.59. There are 120 payments left on the loan and the loan has an unpaid balance of $155,660.00. Your company...

Your company has an existing loan with monthly payments, principal, and interest of $1,883.65. There are 48 payments left on the loan and the loan has an unpaid balance of $74,269.00. Your company is...

answer the following questions. 1. Analyze The Pub's competitive environment and macroenvironment. 2. Answer the following questions. a. What are the two most significant driving forces of change in...

Could I get the cost of capital calculation (WACC) broken out in excel for Amazon based on FY2015 financials? \fTo our shareowners: This year, Amazon became the fastest company ever to reach $100...

Hi, I have areport due in nine hours. I need to find the following list of things on Amazon.com....

The requirements are in world file. The pdf file includes the case. Only one-page write. Answer following questions and write one page (double space) What are the challenges of exiting private equity...

I'm willing to take this before the 19th of may. PROFESSIONAL ISSUES When a company looks too good to be true, it usually is. ; i - I The Rise and Fall of Enron BY C. WILLIAM THOMAS f you''re like...

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Conduct an internet search to find an organization that lists its mission and vision statement on its website. What do the mission and vision statements communicate? How might the organization use...

Given the following information, calculate the estimated before-tax cash flow from annual operations (BTCF): NOI: $89,100; Annual Debt Service: $58,444; Net Sale Proceeds: $974,700; Remaining...

Tommy John is going to receive $1,000,000 in three years. The current market rate of interest is 10%. a. Using the present value of $1 table in Exhibit 4, determine the present value of this amount...

I f f ( x ) = x 2 - x , then lim h 0 f ( x + h ) - f ( x ) h = 2 x - 1 0 1 2 x 2

Green light at 520nm is diffracted by a grating with 3000lines/cm. Through what angle is the light diffracted in (a) first (b) fifth order?

In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2017 were as follows. All costs are controllable by the department manager....

Without performing any calculations, determine which measure of central tendency best represents the graphed data. Explain your reasoning. How Often Do You Change Jobs? 1250- 1000 - 750- 500 250 -...

Demopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $55,000 of...

A continuous foundation with a width of 1 m is located on a slope made of clay soil. Refer to Figure 7.19 and let D f = 1 m, H = 4 m, b = 2 m, = 16.8 kN/m 3 , c = c u = 68 kN/m 2 , = 0, and b = 60....

As presented in this chapter, azodicarbonamide is a chemical that was commonly used in commercial bread making in the U.S., even though it is banned in Europe because studies showed it could cause...

Designing a Balanced Scorecard for a pharmaceutical company Chadwick, Inc.: The Balanced Scorecard (Abridged)14 Company Background Chadwick, Inc., was a diversified producer of personal consumer...

How to do d)ii,b I have send the d)i part earlier because only one question each time submit ii. Based on your answer above d(), answer the following: Assuming you have graduated and have been...

Understanding Business Processes and Information Systems: Mini case: Assuming you and 3 other students formed a group for a course project. Since it is not easy to always meet in person, your team...

Understanding Business Processes and Information Systems: Mini case 1: Assuming you and your team want to help a rural community in NL to sell their hand-made cups to people all over the world....

SIMPLE AND COMPOUND INTEREST CASE STUDY Assuming that you graduated this December 31st 2020 from the University of Buraimi and immediately on the 1" of January 2021, you started working with the...

Assuming you have graduated and have been working for several years. You are planning to buy a double-storey link house in Bukit Mahkota built by the IOI developer which cost RM748,000 per unit for...