course2 / mets/6907494 module item de10530417 Menu Hear Besthotes MAR Question 1. Points 1 out of 1 possible Suppose that 10 years ago you bought a home for $140.000, paying 10% as a down payment and financing the rest at interest for 30 years. Your existing mortgage (the one you got 10 years ago How much money did you pay as your down payment? $ 14000 Show Answer Preview Question 2 Points 1 out of possible. How much money was your existing mortgage loan for? Show Answer Question 3 Points out of possible What is your current monthly payment on your existing mortgage? Note: Carry at least 4 decimal places during calculations, but round your final answer to the nearest cent. Show Answer Question 4. Points 2 out of 2 possible How much total interest will you pay over the life of the existing loan? 520631945 Show Awwer Preview C Questions Points: 0 out of 1 possible. 1 available on this attempt.. This is attempt 2 of 3. This year (10 years after you first took out the loan, you check your loan balance. Only part of your payments have been going to pay down the loans the rest has been going towards interest. You see that yo 5110,533 left to pay on your loan. Your house is now valued at $180.000 Your current situation How much of the original loan have you paid off , how much have you reduced the loan balance by Keep in mind that interest is charged each month - it's not part of the loan balance 'Activate Windo SAMSUNG DO NOT MOVE THE DESKTOD ICONS DIEASEM cours/554297/signments/627m odulenem d.10530417 Question Points out of possible. How much money have you paid to the loan company so far (over the last 10 years? Question. Points out of 1 possible How much interest have you paid so far over the last 10 years? Preview Question Points out of 1 possible How much equity do you have in your home equity is value minus remaining debt) Questions. Pots out of 3 possible. Refinancing Since interest rates have dropped, you consider refinancing your more at a lower rate. If you look out a new year more at for your remaining loan balance what would your new monthly payments be Question 10. Points: 0 out of 2 possible How much interest will you pay over the life of the new Preview Question 11. Points out of 1 possible Analyzing the refinance Notice that if you refinance, you are going to be making payments on your home for another 30 years. In addition to the 10 years you've already been paying the years total How much will you save each month because of the lower monthly payment Preview Ouestion 12. Points out of possible How much total interest will you be paying consider the interest you paid over the first 10 years of your original loan as well as interest on your refinanced for Preview Question 12. Points: 0 out of 1 possible. How much total interest will you be paying consider the interest you paid over the first 10 years of your original loan as well as interest on your refinanced loan) Preview Question 13. Points: 0 out of 2 possible. Now the non-computational question: Does it make sense to refinance? (there isn't a correct answer to this question. Just give your opinion and your reason) (Note: The computer can't auto-grade this part so it will show a score of O until i manually Previous xie B SAMSUTVO DO NOT MOVE THE DESKTO course2 / mets/6907494 module item de10530417 Menu Hear Besthotes MAR Question 1. Points 1 out of 1 possible Suppose that 10 years ago you bought a home for $140.000, paying 10% as a down payment and financing the rest at interest for 30 years. Your existing mortgage (the one you got 10 years ago How much money did you pay as your down payment? $ 14000 Show Answer Preview Question 2 Points 1 out of possible. How much money was your existing mortgage loan for? Show Answer Question 3 Points out of possible What is your current monthly payment on your existing mortgage? Note: Carry at least 4 decimal places during calculations, but round your final answer to the nearest cent. Show Answer Question 4. Points 2 out of 2 possible How much total interest will you pay over the life of the existing loan? 520631945 Show Awwer Preview C Questions Points: 0 out of 1 possible. 1 available on this attempt.. This is attempt 2 of 3. This year (10 years after you first took out the loan, you check your loan balance. Only part of your payments have been going to pay down the loans the rest has been going towards interest. You see that yo 5110,533 left to pay on your loan. Your house is now valued at $180.000 Your current situation How much of the original loan have you paid off , how much have you reduced the loan balance by Keep in mind that interest is charged each month - it's not part of the loan balance 'Activate Windo SAMSUNG DO NOT MOVE THE DESKTOD ICONS DIEASEM cours/554297/signments/627m odulenem d.10530417 Question Points out of possible. How much money have you paid to the loan company so far (over the last 10 years? Question. Points out of 1 possible How much interest have you paid so far over the last 10 years? Preview Question Points out of 1 possible How much equity do you have in your home equity is value minus remaining debt) Questions. Pots out of 3 possible. Refinancing Since interest rates have dropped, you consider refinancing your more at a lower rate. If you look out a new year more at for your remaining loan balance what would your new monthly payments be Question 10. Points: 0 out of 2 possible How much interest will you pay over the life of the new Preview Question 11. Points out of 1 possible Analyzing the refinance Notice that if you refinance, you are going to be making payments on your home for another 30 years. In addition to the 10 years you've already been paying the years total How much will you save each month because of the lower monthly payment Preview Ouestion 12. Points out of possible How much total interest will you be paying consider the interest you paid over the first 10 years of your original loan as well as interest on your refinanced for Preview Question 12. Points: 0 out of 1 possible. How much total interest will you be paying consider the interest you paid over the first 10 years of your original loan as well as interest on your refinanced loan) Preview Question 13. Points: 0 out of 2 possible. Now the non-computational question: Does it make sense to refinance? (there isn't a correct answer to this question. Just give your opinion and your reason) (Note: The computer can't auto-grade this part so it will show a score of O until i manually Previous xie B SAMSUTVO DO NOT MOVE THE DESKTO