Form of a single balloon payment

Assignment Help Business Management
Reference no: EM131640514

You require a 25-year, fixed-rate mortgage to buy a new home for $240,000. Your mortgage bank will lend you the money at a 5.35 percent APR for this 300-month loan. However, you can only afford monthly payments of $800, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment.

How large will this balloon payment have to be for you to keep your monthly payments at $800? (Do not round intermediate calculations and round your final answer to 2 decimal places (e.g., 32.16).)

Reference no: EM131640514

Questions Cloud

Illustrate how one could develop a fear of a dentist : Differentiate between classical and operant conditioning. Use classical conditioning to illustrate how one could develop a fear of a dentist
Discuss a postoperative client vomited with anesthesia : A postoperative client vomited while recovering from anesthesia. After cleaning and comforting the client, which action by the nurse is most important
What are problems that monopolies can cause : What are problems that monopolies can cause, and why is it difficult for the government to control and regulate monopolistic enterprises?
Demonstrate organizational effectiveness : What are the four key questions that a dashboard should asks that would really demonstrate organizational effectiveness?
Form of a single balloon payment : However, you can only afford monthly payments of $800, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon
Discuss whether you think pest analysis would be useful tool : discuss whether you think PEST analysis and Porter's 5 Forces analysis would be useful tools for HD executives to help them make wise strategic choices.
Organizations to track financial performance : What would your level of comfort be in a discussion with a CFO regarding the key measurements used by organizations to track financial performance?
Discuss a nurse is preparing to hang a blood transfusion : A nurse is preparing to hang a blood transfusion. Which action is most important to do first. A nurse is already preparing to hang a blood transfusion
Accept one of three possible projects : Your company can accept one of three possible projects. Project A has a NPV OF $30,000, it will take 5 years to complete and the associated cost will be $10,000

Reviews

Write a Review

Business Management Questions & Answers

  Diversity training and training optionsdiversity training

diversity training and training optionsdiversity training can take many forms and discuss a variety of topics. describe

  Candidates for a ciso staff position

Hide Description More and more hiring actions start with a written essay from job candidates followed by a telephone "screening" interview.

  Direct catalyst for the challenger accident

If I recall correctly, the direct catalyst for the challenger accident was the O-Ring design coupled with the freezing temperatures prior to launch

  How do you think a reasonable resolution could be reached

How do you think a reasonable resolution could be reached that would satisfy both parties - Can anyone provide the answer for given question with example?

  Conflict of interest in the military can cause problems

BUS 323- Conflict of Interest in the military can cause problems. Using myself as an example, when I became an Equal Opportunity Advisor for my United States Army I was assigned to conduct my duty at the same Brigade that I was assigned to.

  Explain the cost object and key activities

Activity based costing is a system that gathers overhead expenses for organization activities, and then assigns those costs back to items, services, sections, sales territories or other cost objects.

  Dealing with limited resources amp providing servicehow

dealing with limited resources amp providing service.how does a person deal with limited resources when the person is

  Template method of documenting

Dr. Reynolds has been trying without success to use PrimeSUITE efficiently. Though he likes the template method of documenting

  Aligning staffing systems with an organizational strategy

First use the various orientation frameworks to examine and assess your firm's current orientation and to make recommendations for improvement. How will the firm retrain, hire staff, or outsource to meet future demand?

  How do you suppose that the increased at home viewing

Within the text of the consumer socialization of children, adult consumer socialization and intergenerational socialization explain how do you suppose that the increased at home viewing of movies on DVD will impact the typical American family.

  Illustrate what appears to be their present strategy

Explain how does the calculation of the after-tax WACC differ from which of the before-tax WACC? Which method is typically applied in the United States? Explain why.

  Flexible budgeting in healthcare organizations

Explain the need for and the process for flexible budgeting in healthcare organizations today. Your response must be at least 200 words in length. Your response must be at least 200 words in length.

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