Computing monthly loan repayment

Assignment Help Mathematics

Reference no: EM13130231

Assume that the average loan on a home is quoted to be $55,000.00. Calculate the monthly repayment necessary to have the loan repaid after 25 years if the interest rate is 7.5%. What is the total amount paid back on the loan?

Reference no: EM13130231

Questions Cloud

Determining annual percentage yield : What is the future value if $4900 is invested for 3 years at an annual rate of 12% compounded monthly? What is the annual percentage yield (or effective annual rate) for a nominal rate of 7.3% compounded quarterly?

Removal in the consolidation process : Ontario still had $60,000 of the goods in its inventory at the end of the year. The amount of unrealized intercompany profit which should be eliminated in the consolidation process at the end of 2006 is:

Evaluate the union-s claim by avoiding a type one error : Complete the procedure on each of 36 occasions. Assuming we wich to be 99% certain of avoiding a Type I error, use these data to evaluate the union's claim.

Explain organic reactions - cyclopentadiene : Organic Reactions - Cyclopentadiene, Why is cyclopentadiene monomer more stable at higher temperatures although dicyclopentadiene (dimer) is more stable at lower temperatures?

Computing monthly loan repayment : Assume that the average loan on a home is quoted to be $55,000.00. Calculate the monthly repayment necessary to have the loan repaid after 25 years if the interest rate is 7.5%.

Personal derek parfit : Personal Derek Parfit [1] We can, I think, describe cases in which, though we know the answer to every other question, we have no idea how to answer a question about personal identity. These cases are not covered by the criteria of personal ide..

Equity method account for the investment : Race decided to use the equity method to account for this investment. What was the noncontrolling interest's share of consolidated net income?

Determining the problems of break-even : Harold operates a hot dog stand at the Jugulars football games. He pays $2000 per game to rent the space. Each hot dog (with bun and condiments) costs him $0.33, and he sells hot dogs for $3 each.

Evaluate the eight fold path : Explain and evaluate the “Eight Fold Path”. Is this a reasonable philosophy for life?

User Account

All Pages