How much interest will refinancing save

Assignment Help Financial Management

Reference no: EM131316196

A person purchased a $207,038 home 10 years ago by paying 10% down and signing a 30-year mortgage at 8.7% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid balance by signing a new 30-year mortgage at 4.% compounded monthly. How much interest will refinancing save (round to the nearest cent as needed)?

Reference no: EM131316196

Questions Cloud

Find the unit vector normal to the plane : Write the expression for the differential length vector dl at the point (1, 2, 8) on the straight line and having the projection dx on the x-axis.

Why you have decided to write about it : English 101 Reyes Essay : write a short proposal that states: the topic of your choice, why you have decided to write about it, a working thesis statement, and why this issue is important to explore.

How much will you have at the end of the years : You have $16,750 you want to invest for the next 26 years. You are offered an investment plan that will pay you 9 percent per year for the next 13 years and 13 percent per year for the last 13 years. How much will you have at the end of the 26 years?..

Perform the test using the p-value approach : Perform the test using the P-value approach. P-value = ______ (Round to four decimal places as needed.). Compare the P-value with the level of significance alphaα.

How much interest will refinancing save : A person purchased a $207,038 home 10 years ago by paying 10% down and signing a 30-year mortgage at 8.7% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid balance by signing a new 30-year mortgage at 4.% com..

What would be your choice of nursing care delivery models : As the manager for your unit, what would be your choice of nursing care delivery models? Give at least three (3) advantages and three (3) disadvantages of the nursing care delivery model you have chosen

Compare that stock value with the current stock market price : Assume the company chosen above has a 4% dividend growth rate and the required rate of return is 9%. Compare that stock value with the current stock market price. Are there any differences?

Example in which the current in a wire enclosed : Why is it necessary to have the displacement current term on the right side of Ampere's circuital law?2.28. When can you say that the current in a wire enclosed by a closed path is uniquely defined? Give two examples.

What wasted resourses you seen or heard about in health care : What wasted resourses or wasted efforts have you seen/heard about in health care today

User Account

All Pages