Computing the balance on a mortgage loan

Assignment Help Finance Basics

Reference no: EM13825867

Problem:

Your family purchased a house three years ago. When you bought the house you financed it with a $160,000 mortgage with an 8.5% nominal interest rate (compounded monthly). The mortgage was for 15 years (180 months). What is the remaining balance on your mortgage today?

Additional Information:

This question is bacially belongs to Finance as well as it describes about computing the balance on a mortgage loan.

Reference no: EM13825867

Questions Cloud

Write a review on the journal article : Write a review on the journal article

Physical properties of all organic groups : Clear visual summaru (such as tab) of physical properties of all organic groups (boiling, solubility, acidity, structure, etc)

Suppose that while titrating a vinegar sample : Suppose that while titrating a vinegar sample with standard NaOH you misread the buret and the calculated NaOH volume is greater than the actual volume used. How will this error influnence the final calculated percentage of acetic acid in the vinegar..

Clarify about demand for luxury products : The problem belongs to Economics and it is clarify about demand for luxury products. An example of top-of-the-line luxury sedans has been given. In this case, as the cost increases, so does the demand for the cars increase?

Computing the balance on a mortgage loan : Your family purchased a house three years ago. When you bought the house you financed it with a $160,000 mortgage with an 8.5% nominal interest rate (compounded monthly). The mortgage was for 15 years (180 months). What is the remaining balance on..

Was your behavior altruistic why or why not : Using your own beliefs about the meaning of pro-social behavior, would you consider your behavior to be pro-social? Was your behavior altruistic? Why or why not

Critical analysis of medication chart in the understanding : Critical Analysis of Medication Chart in the understanding of medication administration

Types of activities reported in statement of cash flows : Distinguish among the three types of activities reported in the statement of cash flows. What are the major sources (inflows) of cash in a statement of cash flows? What are the major uses (outflows) of cash in a statement of cash flows?

Computing the equal annual payment : You are considering an investment in a 40-year security. The security will pay $25 a year at the end of each of the first 3 years. The security will then pay $30 a year at the end of each of the next 20 years.

User Account

All Pages