As is common in commercial real estate

Assignment Help Finance Basics

Reference no: EM13492859

Your firm has taken out a $489,000 loan with 8.9% APR (compounded monthly) for some commercial property. As is common in commercial real estate, the loan is a 5-year loan based on a 15-year amortization. This means that your loan payments will be calculated as if you will take 15 years to pay off the loan, but you actually must do so in 5 years. To do this, you will make 59 equal payments based on the 15-year amortization schedule and then make a final 60th payment to pay the remaining balance.

1. What will your monthly payments be?
The monthly payment will be $____?

2. What will your final payment be?
The final payment will be $____?

Reference no: EM13492859

Questions Cloud

Using the direct method of presenting cash flows : Using the direct method of presenting cash flows from operating activities, prepare a Statement of Cash Flows in accordance with AASB 107 for the year ended 30 June 2012, including a reconciliation of cash flows arising from operating activities a..

Evaluate the most probable speed of an ozone molecule : Calculate the most probable speed of an ozone molecule in the stratosphere, where the temperature is 270 K

Evaluate the values using standard potentials : For the following electrochemical cell Cu(s)|Cu2 (aq, 0.0155 M)||Ag (aq, 1.50 M)|Ag(s) write the net cell equation. phases are optional. do not include the concentrations. Calculate the following values using standard potentials as needed.

How much force is in each rope : A 168N sign is supported from its top surface by two ropes that each make a 22.5o angle with the horizontal. The sign is not moving. How much force is in each rope

As is common in commercial real estate : As is common in commercial real estate

Calculate sem pty ltds taxable income : Indicate with explanations, sections of the Acts and relevant case law how the Revenue and Expense items (together with the Notes) in the company's accounts are treated for tax purposes.

Explain how much chromium is plated out of the solution : A current of 4.24 A is passed through a Cr(NO3)2 solution for 1.20 hours. How much chromium is plated out of the solution

What is the acceleration of the spider : Two forces act on an object. A 36-N force acts at 225o. A 48-N force acts at 315o. What would be the magnitude and direction of their equilibrant, What is the acceleration of the spider

Explain spontaneous as they are exothermic or endothermic : Reactions with the following values of ^H and ^S are spontaneous or nonspontaneous and whether they are exothermic or endothermic:

User Account

All Pages