Computing the present value of the mortgage loan

Assignment Help Finance Basics

Reference no: EM1313887

You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is $2356 and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 6% (APR). How much do you owe on the mortgage today?

Reference no: EM1313887

Questions Cloud

Computation of npv of the project at various interest rates : Computation of NPV of the project at various interest rates and what is the NPV of this project if the five-year interest rate is

Firms inverse demand curve find the firms optimal quantity : Suppose a firm's inverse demand curve find the firm's optimal quantity, price also profit by using the profit also marginal profit equations.

Calculate the book value of machine : Calculation of book value of machine - what will be the machine's book value as of December31, 2008?

Summarizing how a change in tax policy affect government : Write a 400- to 700-word memo to the economic adviser. Describe the change in tax revenues for the government in the new equilibrium, in both the short and longer terms.

Computing the present value of the mortgage loan : Computing the present value of the mortgage loan and How much do you owe on the mortgage

Valuation of plant asset : Valuation of plant asset - What amount if any will Hi-Tech record as goodwill on the date of purchase?

Explain how demand for time travel : Explain how demand for time travel, as well as marginal income, long-run marginal cost also long-run average cost.

Analysis of variance and its assumptions : Is there evidence of violations of the usual ANOVA assumptions of equal variances and normal populations? Set up and perform appropriate TESTS at the α = 0.05 level of significance.

Effects of various methods of depreciation : Effects of various methods of depreciation - How would using the sum-of-the-years'-digits method of depreciation instead of the double-declining-balance method of depreciation affect a gain or loss on the sale of the plant asset?

User Account

All Pages