Reference no: EM13758805
You are considering buying a home. The agreed upon price is $200,000. You decide to put down $20,000. Your bank agrees to finance the difference at 4% APR, for 30 years. The mortgage must be paid monthly.
A) Calculate your monthly mortgage payment. (Hint: Notice that the formula used to calculate this amount is similar to that of an annuity, with interest compounded more frequently than a year.)
B) Calculate the portion of your interests to be paid the first month. (Hint: To calculate this amount, one should use the simple interest on the "new" balance each period)
C) Calculate the portion of your principal to be repaid the first month.
D) Calculate the total amount you will end paying after 30 years, assuming nothing change during this term.
E) Construct an amortization table for the first three years of this mortgage.
F) Supposed that the appraised value of the house you are purchasing is $205,000. What is your Loan-to-Value ratio?
|
Goal of the product campaign for the new shampoo
: Prepare a 2-3 page paper in Microsoft Word to address - Describe the ultimate goal of the product campaign for the new shampoo.
|
|
Create one table representing normalized design
: Create one table representing normalized design (3NF) for the important objects and their attributes in a textbook catalogue and accounting office at a university book store
|
|
What is dave''s expected price six years from now
: Dave's Inc's stock currently sells for $45 per share. The stock's dividend is projected to increase at a constant rate of 4% per year. The required rate of return on the stock is 12%. What is Dave's expected price six years from now?
|
|
Identify the type of diagrams the authors used
: Identify the type of diagrams the authors used to document the reengineered parts of the exam scheduling and distribution process. Assess the intentional, structural, responsibility, functional, and behavioral views of the system
|
|
Calculate your monthly mortgage payment
: You are considering buying a home. The agreed upon price is $200,000. You decide to put down $20,000. Your bank agrees to finance the difference at 4% APR, for 30 years. The mortgage must be paid monthly.A) Calculate your monthly mortgage payment. (H..
|
|
What is the real gdp growth rate from 2005 to 2006
: What is the real GDP growth rate from 2005 to 2006 and what is the Nominal GDP growth rate from 2005 to 2006?
|
|
What ethical and privacy issues must social network consider
: What ethical and privacy issues must a social network consider? What about technology? How is Facebook adapting to make money? Are they ways to resolve issues and have profits
|
|
Write an article on international adoption strategies
: Write an article on International Adoption Strategies and Challenges. The potential impact of the drop in international adoptions, both within the United States and within poverty stricken countries.
|
|
The installments will increase by 5 percent per year
: Suppose two athletes sign 10-year contracts for $80 million. In one case, we're told that the $80 million will be paid in 10 equal installments. In the other case, we're told that the $80 million will be paid in 10 installments, but the installments ..
|