Amortizing loan to purchase an apartment

Assignment Help Financial Management

Reference no: EM131021010

Five years ago you took out a 10-year amortizing loan to purchase an apartment. The loan has 4.8% APR with monthly payments of $1000. How much do you owe on the loan today? The remaining loan balance is ------------ (round to the nearest dollar) How much interest did you pay on the loan in the past year? The interest paid in year five was $......... (round to the nearest dollar) Over the entire period of 10 years, how much interest will you have paid on the loan? The total amount of interest paid on the loan will be $........ (round to the nearest dollar)

Reference no: EM131021010

Questions Cloud

Choice of special financing or price discount : Performance Auto is offering a choice of special financing or price discount on their new sports car. The sticker price is $35,000 and you can drive it away today for a cash payment of a cash payment of $28,500. You can borrow the $28,500 from 4th/8 ..

What is mitigating solutions : What is mitigating solutions and please provide some examples

What is the price you would pay for this stock now : Credenza Industries is expected to pay a dividend of $1.20 at the end of the coming year. It is expected to sell for $62.00 at the end of the year. If its equity cost of capital is 8%, what is the price you would pay for this stock now?

Profitability index when evaluating projects : Company uses the profitability index (PI) when evaluating projects. The cost of capital is 14.52 percent. What is the PI of a project if the initial costs are $2351733 and the project life is estimated as 5 years? The project will produce the same af..

Amortizing loan to purchase an apartment : Five years ago you took out a 10-year amortizing loan to purchase an apartment. The loan has 4.8% APR with monthly payments of $1000. How much do you owe on the loan today?

What is the book value per share for a firm : What is the book value per share for a firm with 2 million shares outstanding at a price of $50, a market-to-book ratio of .75, and a dividend payout ratio of 50%?

Prepare a sales budget in units and dollars by month and : Prepare a sales budget in units and dollars, by month and in total. for the second quarter (April, May, and June) of 2013. Prepare a schedule of cash collections from sales, by month and in total, for the second quarter of 2013. prepare a production ..

Analysis you might perform in considering this use of funds : The head of the hearing department at your outpatient clinic wants to purchase a new state-of-the-art audiology diagnostic suite for $4000,000. You have been asked to review he request. What are some examples of the types of analysis you might perfor..

Prepare journal entries to record depreciation of machine : Prepare journal entries to record depreciation of the machine at December 31 - The year of its disposal.

User Account

All Pages