FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are requesting a $130,000 home loan. The terms from your bank are: 4.5% interest with a 25 year amortization. What is your monthly payment

  1. You are requesting a $130,000 home loan. The terms from your bank are: 4.5% interest with a 25 year amortization.
    1. What is your monthly payment going to be?

  1. You think you may pre-pay the entire loan after 8 years, what will the loan balance be?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Principles Of Macroeconomics

Principles Of Macroeconomics

Authors: Frank, Bernanke, Antonovics, Heffetz

3rd Edition

1259117162, 9781259117169

More Books

Students also viewed these Finance questions

Question

★★★★★
Use Fig in Problems 1 through 8. 1. Find the equivalent resistance of the parallel arrangement in the upper branch. 2. Find the equivalent resistance of the parallel arrangement in the lower branch....

Answered: 1 week ago

Question

★★★★★
An argon ion laser emits green light at 514.5 nm with a power of 1 W concentrated in a beam of cross section 0.01 cm 2 . Calculate (a) The electric field amplitude. (b) The photon flux.

Answered: 1 week ago

Question

★★★★★
Let X b(n, p) and Y (????). If ???? = np, so that X and Y have the same mean, consider the sequence Show that the sequence ????n is first increasing and then decreasing, attaining a maximum at the...

Answered: 1 week ago

Question

★★★★★
Vidi Corporation, a private enterprise, made the following purchases related to its property, plant, and equipment during its fiscal year ended December 31, 2017. The company uses the straight-line...

Answered: 1 week ago

Question

★★★★★
Question 3 (2 points) 4) Listen You've borrowed $4,248.68 and agreed to pay back the loan with monthly payments of $200. If the interest rate is 12 percent stated as an APR, how long will it take you...

Answered: 1 week ago

Question

★★★★★
please explain how to compute step by step, i rate, thank you! 13 A 10-year maturity, 9% coupon bond paying coupons semiannually is callable in five years at a call price of $1,100. The bond...

Answered: 1 week ago

Question

★★★★★
The velocity of the bullet with mass mk has an angle with respect to the horizontal. The speed of the bullet is Vk when it hits a block with mass m. The bullet remains caught in the block. As a...

Answered: 1 week ago

Question

★★★★★
5. Neil Special Pottery, LLC has decided to use a regular output of 800 units per month for this year. They can use overtime up to 80 units per month and use subcontracting for the remaining units to...

Answered: 1 week ago

Question

★★★★★
Crane Company estimates that 2022 sales will be $32,000 in quarter 1, $38,400 in quarter 2, and $46,400 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending merchandise...

Answered: 1 week ago

Question

★★★★★
A company that is implementing Dynamics 365 is enrolled in the FastTrack program. The company wants to know at which point the Microsoft FastTrack Architect disengages. At which point does the...

Answered: 1 week ago

Question

★★★★★
Explain main takeaways from project management course in article. Explain highs and lows, your enthusiasm or anxiety about a career in project management, and any key concepts or growth you've...

Answered: 1 week ago

Question

★★★★★
What problems do you think exist with the regional offices (a) job analysis information, (b) human resource planning, (c) training and development, and (d) career planning?

Answered: 1 week ago

Question

★★★★★
Why is employee feedback an important element of any organizations attempt to encourage career development?

Answered: 1 week ago

Question

★★★★★
Explain why Agilent is a good example of effective performance management. What did management do to make it one of the great employers?

Answered: 1 week ago

Previous Question Next Question