Find what is the monthly payment

Assignment Help Microeconomics
Reference no: EM132160355

Question: For the mortgage in Problem, how much interest is paid in month 25? How much principal?

Problem: For an $85,000 mortgage with a 30-year term and a 12% nominal interest rate, what is the monthly payment? After the first year of payments, what is the outstanding balance? After the first 10 years of payments, what is the outstanding balance?

Reference no: EM132160355

Questions Cloud

Calculate deadweight loss if the monopoly : Calculate deadweight loss if the monopoly charges the? profit-maximizing price. Deadweight loss equals __ ?(Enter your response rounded to two decimal? places.
Constructing and Evading network traffic based model of IDS : Project - ML for Security. Constructing & Evading network traffic based model of IDS. Create a model that learns normal network traffic
Determine the eac if the car is sold after five years : A new automobile costs $28,000. The car's value will decrease 15% the first year and 10% each year thereafter. The maintenance costs are expected to be $200.
How much is owed : A new car is purchased for $10,000 with a 0% down, 9% interest rate loan. The loan's length is 4 years. After making 30 monthly payments.
Find what is the monthly payment : For an $85,000 mortgage with a 30-year term and a 12% nominal interest rate, what is the monthly payment? After the first year of payments.
Ref monopoly-resource allocation : What is the relevance of studying Harberger and what is the goal of his above essay?
What is the monthly payment : A 30-year mortgage for $140,000 is issued at a 9% nominal interest rate. What is the monthly payment? How long does it take to pay off the mortgage.
What will be the firm new annual payments : A construction firm owns a concrete batching plant on which there is a $150,000 mortgage. The mortgage's interest rate is 7%, and it is to be paid off in 25.
Negotiate a new commercial policy : The Uk now needs to negotiate a new commercial policy with the other 27 members of the EU.

Reviews

Write a Review

Microeconomics Questions & Answers

  Magnitude of the energy of a single wave

Why the magnitude of the energy of a single wave is related to the frequency? If we think radiation as a particle-like matter,what is the meaning of frequency

  Personal life to enhance your explanation

What supervisory trait do you most relate to and why? You should include a personal account from your life.vi. Why do supervisors fail if they are using a "textbook" technique? Explain using the scenes from the movie / show or your own personal life ..

  Describe the importance of euler theorem and assumption of

provide a series of essays on each of the following topics.1. semi-short essay wicksteed made a significant

  What is that worker''s marginal product

Frank Gunter owns an apple orchard. He employs 40 apple pickers and pays them $7 per hour to pick apples, which he sells for $3.50 per box. If Frank is maximizing profits

  What reserve price should the auctioneer set

A reserve price is a minimum price set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold at a profit of $0 for the auctioneer. If only one bidder values the item at or above the reserve price. An auctioneer fa..

  Wholesalers to engage in profitable price discrimination

Does the presence of online auction sites, such as eBay, make it easier or harder for traditional retailers and wholesalers to engage in profitable price discrimination? Explain.

  Hiring employees

You need to hire some new employees to staff your start-up venture. You know that potential employees are distributed throughout the population as follows, but you can’t distinguish among them: What is the expected value of four employees you hire?

  Differences between the classical and keynesian models

Which of the following statements best describes the differences between the Classical and Keynesian models presented in class

  Linux administrator performs

Linux administrator performs. Take this opportunity to describe the classes of administrative tasks and how they apply to the Linux environment. Adhere to MLA formatting and reference guidelines

  What is real gdp starting from full employment equilibrium

Governments routinely alter their spending patterns to impact the economy, particularly as they relate to GDP growth and unemployment levels. Explain what effect an expansionary fiscal policy would have on the price level and real GDP starting fro..

  What kinds of abuses did you witness in the film

Capitalism is vital to our way of life, and yet the Enron case clearly shows ways in which this economic system may be abused. What kinds of abuses did you witness in the film? What kinds of vices were evident?

  Earning zero economic profits

The firms in a perfectly competitive industry had been earning zero economic profits.  However, the firms have recently experienced a large decrease in the cost of energy that enables them to substantially reduce the marginal cost and average total c..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd