Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you calculate all questions below. Thank you. Question 6 (1 point) Which amortization period has the lowest monthly payment? Question 7 (2 points) What

image text in transcribedimage text in transcribedimage text in transcribed

Can you calculate all questions below. Thank you.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Question 6 (1 point) Which amortization period has the lowest monthly payment? Question 7 (2 points) What do you think is the best amortization period for you to choose and why? Section B - Payment Frequency Use the online calculator for the following questions. Keep the amount borrowed as $100 000, interest at 4.25% and amortization period of 25 years. Question 8 (2 points) What is the payment amount if you repay monthly and how much interest would you have to pay ? Question 9 (2 points) What is the payment amount if you repay bi-weekly and how much interest would you have to pay?Question 3 (2 points) For an amortization period of 20 years, what is the monthly payment amount and the total interest paid? Keep principal at $100,00, interest rate at 4.25% and payment as monthly. Question 4 (2 points) For an amortization period of 15 years, what is the monthly payment amount and the total interest paid? Keep principal at $100,00, interest rate at 4.25% and payment as monthly. Question 5 (1 point) Which amortization period costs the least in interest? Question 6 (1 point) Which amortization period has the lowest monthly payment?Section A - Length of Amortization Use the online calculator to answer the questions that follow. Question 1 (2 points) For an amortization period of 30 years, what is the monthly payment amount and the total interest paid? Keep principal at $100,00, interest rate at 4.25% and payment as monthly. Question 2 (2 points) For an amortization period of 25 years, what is the monthly payment amount and the total interest paid? Keep principal at $100,00, interest rate at 4.25% and payment as monthly. Question 3 (2 points) For an amortization period of 20 years, what is the monthly payment amount and the total interest paid?Question 9 (2 points) What is the payment amount if you repay bi-weekly and how much interest would you have to pay? Question 10 (2 points) What is the payment amount if you repay weekly and how much interest would you have to pay? A/ Question 11 (1 point) How is the frequency of payment related to the total interest paid? A/ Section C - Interest Rates Keep the amount borrowed at $100 000, amortization at 25 years and monthly payments. Question 12 (2 points)55% AA hwdsb.elearningontario.ca C j + G S1-FOUNDATIONS OF COLLEGE MATHEMATICS-Jenna... G Marissa hosts a party and has 120 cookies available for her friends to eat.... Assignment X Merve Turan: Attempt 1 For the following assignment, you will be using the following online calculator: http://www.kahnawake.com/org/sdu/housing/calculator/CalcAmortE.htm The following explains some of the features. Number of years of Mortgage calculator amortization multipled with amortization schedule by 12 Amount you Principal $ 100.000 Amortization (360 ) months Help borrow Interest Rate 425 % Payment Monthly Info Calculate Payment Don't change until instructed Section B) Don't change until instructed (Section C) Or Input Payment ($ 489.77 and (Calculate Principal Ignore this option we is for Juskaleo papoose uri, Canadun Rates are compounded sam urnugly Amortization: 360 Months (30 Years) 360 Periodic Payments of $ 489.77 Monthly payment amount Mortgage Cost (Total Interests): $ 76,316.31 Total Interest Paid Amortization Schedule for Monthly Payments Month Principal Capital Total Interests Total Balance Paid Capital Paid Interests $ 100,000.00 $ 138.70 $ 138.70 $ 351.07 $ 351.07 Section A - Length of Amortization Use the online calculator to answer the questions that followpalu : A Question 15 (2 points) If the interest rate is 12%, what is the monthly payment amount and the total interest paid? Question 16 (1 point) Why is it important to find a broker/bank with a low mortgage (interest) rate? Submit Quiz O of 16 questions savedQuestion 12 (2 points) If the interest rate is 3%, what is the monthly payment amount and the total interest paid? Question 13 (2 points) If the interest rate is 5%, what is the monthly payment amount and the total interest paid? A/ Question 14 (2 points) If the interest rate is 8%, what is the monthly payment amount and the total interest paid? Question 15 (2 points) If the interest rate is 12%, what is the monthly payment amount and the total interest paid

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals of Ethics for Scientists and Engineers

Authors: Edmund G. Seebauer, Robert L. Barry

1st Edition

9780195698480, 195134885, 195698487, 978-0195134889

Students also viewed these Mathematics questions