You just found the house of your dreams. The price of the house is $200,000. You have been qualified to get a mortagage loan with AAA Bark. The morgage loan is for 20 years at an annual interest rate of 24% Part A How much are your monthly payments for the loan? PartB): What is the balance of the mortgage loan after year's) of payments? PartCX After 1 years of payments, you want to add extra money to the monthly payments so that you will be able to pay off the mortgage loan in 15 years. How much do you have to add to your previously computed monthly payments n order to accomplish this? Corroncnls lo arrive to the answer to part (AX How many periods (the value of ndo we need to use in computing the monthly payments (PMT/? What is the rate per period to use in solving the monthly payments for the mortgage loan? (Round to two decimal places and enter them. Do not enter the symbol. For example, if the answer is 2.43 percent, then enter 2.43) How much is the monthly payment for the mortgage loan? ${Round to wo decimal places and make your your answer has two decimals. Do not enter Sand use comumas to separate thousands. For example if the answer is $1,000 20 then enter 1,000.20) Components to arrive to the answer to part B) To compute the balance of the montgage loan after 1 years), what is the value of n (number of penoda) to use? periods After 1 years, what is the balance of the mortagage loan? $(Round to wo decirreal places and make your your answer has two decirtels. Do not enler Sand use commas to separate thousands For example if the answer is $1,000 20 then enter 1,000. 20) Components to arrive to the answer to part 1C). These calculalions are after you have macho payments for 1 year(s) What is the value of n in the calculations of the new monthly payments? periods How much are the new monthly payments (in order to pay off the loan in 15 years? After 1 years of payments you want to add extra money to the monthly payments so that you will be acle to pay of the mortgage loan in 15 years, How much do you have to add to your previously computed monthly payments in order to accomplish this? You just found the house of your dreams. The price of the house is $200,000. You have been qualified to get a mortagage loan with AAA Bark. The morgage loan is for 20 years at an annual interest rate of 24% Part A How much are your monthly payments for the loan? PartB): What is the balance of the mortgage loan after year's) of payments? PartCX After 1 years of payments, you want to add extra money to the monthly payments so that you will be able to pay off the mortgage loan in 15 years. How much do you have to add to your previously computed monthly payments n order to accomplish this? Corroncnls lo arrive to the answer to part (AX How many periods (the value of ndo we need to use in computing the monthly payments (PMT/? What is the rate per period to use in solving the monthly payments for the mortgage loan? (Round to two decimal places and enter them. Do not enter the symbol. For example, if the answer is 2.43 percent, then enter 2.43) How much is the monthly payment for the mortgage loan? ${Round to wo decimal places and make your your answer has two decimals. Do not enter Sand use comumas to separate thousands. For example if the answer is $1,000 20 then enter 1,000.20) Components to arrive to the answer to part B) To compute the balance of the montgage loan after 1 years), what is the value of n (number of penoda) to use? periods After 1 years, what is the balance of the mortagage loan? $(Round to wo decirreal places and make your your answer has two decirtels. Do not enler Sand use commas to separate thousands For example if the answer is $1,000 20 then enter 1,000. 20) Components to arrive to the answer to part 1C). These calculalions are after you have macho payments for 1 year(s) What is the value of n in the calculations of the new monthly payments? periods How much are the new monthly payments (in order to pay off the loan in 15 years? After 1 years of payments you want to add extra money to the monthly payments so that you will be acle to pay of the mortgage loan in 15 years, How much do you have to add to your previously computed monthly payments in order to accomplish this
