How much do you need to settle your loan

Assignment Help Financial Accounting
Reference no: EM132956906

Questions - Answer the following with solution:

Q1. You have just found the perfect home. However, in order to buy it, you will need to take out a 2 million pesos, 30- years mortgage at an annual rate of 9 percent. What will your monthly mortgage payment be?

Q2. (using problem #1) assuming you would like to pay off your debt after making 3 yearly payments, how much do you need to settle your loan?

Q3. ( using problem #2) Let's say that exactly ten years ago you took out a 2 million pesos, 30-year mortgage with an annual interest rate of 9 % and monthly payment of ( regarding answer in # 1). But since you took out that loan, housing interest rates have dropped. You now have the opportunity to refinance your loan at an annual rate of 7 % over 20 years. You need to know what the outstanding balance on your current loan is so you can take out a lower interest rate loan and pay it off. If you just made the 120th payment and have 240 payment remaining, what's the current loan balance? What will be your new monthly payment if you can do the refinancing?

Q4. A generator is purchased on installment by your school. The school makes a 25 thousand pesos down payment and owes a balance of 50 thousand pesos to be paid quarterly in 3 years. Find the difference in the cash value and installment value of the equipment if money is worth 8% compounded quarterly?

Reference no: EM132956906

Questions Cloud

Estimate the prospective price-earnings ratio : Estimate the prospective price-earnings ratio of the company and comment on its anticipated change in value after the first three years
How much is the rent expense : A lessee leased an office space for 5 years. The useful life of the asset is 10 years. How much is the rent expense
Indicate the profit or loss : Assuming that the Whine Company has excess operating capacity, indicate the profit (or loss) it would realise by accepting the special order
How much commission will be paid for darren : Darren Terry is a commission agent. The gross sales of the Company for the month are $60,000.00. How much commission will be paid for Darren
How much do you need to settle your loan : Assuming you would like to pay off your debt after making 3 yearly payments, how much do you need to settle your loan
What is the correct depreciation expense : Rent of P6,500 for 2021 was received from a lessee on December 23, 2020; What is the correct 2020 depreciation expense
Calculate the depreciation tax shield each year : Rather than straight-line depreciation, suppose Markov will use the bonus depreciation method. Calculate the depreciation tax shield each year
How much are her monthly payments : She is financing $185,500 and obtained a 30-year, fixed-rate mortgage with a 5.125% interest rate. How much are her monthly payments
What liability related to this purchase obligation : On December 31st 2021, the price per barrel is $25. What liability related to this purchase obligation, if any, does Spaceman record on December 31st 2021

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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