Fixed rate mortgage with monthly payments

Assignment Help Financial Management
Reference no: EM131997754

PLEASE SHOW FORMULA USED(NOT FROM EXCEL) AND STEPS USING FINANCIAL CALC

1. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $135,000 at 5.25%. What will be Ann’s mortgage balance after 20 years of payments (ie after 240 months)?

2. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $135,000 at 5.25%. What percent of Ann’s 20th payment goes to interest?

3. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $135,000 at 5.25%. What percent of Ann’s 20th payment goes to principal?

Reference no: EM131997754

Questions Cloud

Require the purchase of piece of equipment : Gomi Waste Disposal is evaluating a project that would require the purchase of a piece of equipment for 120,000 dollars today.
What will be mortgage balance : What will be Ann’s mortgage balance after 20 years of payments (ie after 240 months)?
Hat is the market price of this bond : A Treasury bond is quoted at a price of 104.8640. What is the market price of this bond if the face value is $5,000.
Plumbers pays no dividend at the present time : Bliley Plumbers pays no dividend at the present time. How much are you willing to pay to buy a share of this stock if your required return is 15 percent?
Fixed rate mortgage with monthly payments : Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $135,000 at 5.25%.
Compute price weighted index and index return each day : Compute price weighted index and index return each day. Compute market value weighted index and index return each day.
Calculate modified duration and macaulay duration of bond : Calculate the Macaulay Duration of this bond and explain what your answer means. Calculate the Modified Duration and explain what your answer means.
Maturity date is called the bond yield to maturity : The rate of return on a bond held to its maturity date is called the bond's yield to maturity.
Consist entirely of current assets and net plant-equipment : Balance Sheet The assets of Dallas & Associates consist entirely of current assets and net plant and equipment.

Reviews

Write a Review

Financial Management Questions & Answers

  Does not qualify for bonus depreciation

Janis bought a 2012 Mercedes Benz S550 on 1 July 2016 for 70,000. She uses it 100% in her business as a folksinger. She wishes to take the maximum amount of depreciation and 179 expense allowed on the vehicle. How much of her $70,000 cost can she rec..

  Connecticut state income tax return

Sam Colley is member of Financial Accounting Standards Board who earned salary of $323,000 in 2016. There is no need to do a Connecticut state income tax return

  Cofounded last year is growing rapidly

The company you cofounded last year is growing rapidly and has strong prospects for an IPO in the next year or two. The additional capital that an IPO could raise would let you hire the brightest people in the industry and continue to innovate with n..

  Calculate investment in net working capital for the years

Calculate investment in net working capital for the years 2017, 2018, 2019, 2020, 2021.

  What is the present value of this growing perpetuity

You are evaluating a growing perpetuity product from a large financial services firm. The product promises an initial payment of $24,000 at the end of this year and subsequent payments that will thereafter grow at a rate of 0.03 annually. If you use ..

  What rate can you earn on one-year risk-free security

The spot rate for the Japanese yen currently is ¥105 per $1. The one-year forward rate is ¥104 per $1. A risk-free asset in Japan is currently earning 5 percent. If interest rate parity holds, what rate can you earn on a one-year risk-free U.S. secur..

  Call option with the same exercise prices and maturity

You are observing the following prices. A put option that expires in six months has an exercise price of $45 and it sells for $5.80. The stock is currently priced at $40, and the risk-free rate is 3.6% per year, compounded continuously. What is the p..

  The premium on call option on the market index

The premium on a call option on the market index with an exercise price of $50 is $1.30 when originally purchased. After 3 months the position is closed and the index spot price is $52. If interest rates are 0.75 % per month, what is the Call Profit?

  Relationship between bond prices and interest rates

We learned that there is an indirect relationship between bond prices and interest rates.

  Two mutually exclusive design projects

The Sloan Corporation is trying to choose between the following two mutually exclusive design projects: Year Cash Flow (I) Cash Flow (II) If the required return is 12 percent, what is the profitability index for both projects?

  What is the dollar amount left in the account

The stock pays $ 2 per share. A year from now the price is $ 25. What is the dollar amount left in the account?

  The effect on the balance sheet would have been

What if last year the Andrews Corporation issued 238,700 shares at $58.00 per share. The effect on the balance sheet would have been:

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