How much interest will you have paid on the loan

Assignment Help Financial Management

Reference no: EM131863128

Five years ago you took out a 10-year amortizing loan to purchase an apartment. The loan has 3.6% APR with monthly payments of $1600 . How much do you owe on the loan today?

The remaining loan balance is $. (round to the nearest dollar)

How much interest did you pay on the loan in the past year?

The interest paid in year five was $. (round to the nearest dollar)

Over the entire period of 10 years, how much interest will you have paid on the loan?

The total amount of interest paid on the loan will be $. (round to the nearest dollar)

Reference no: EM131863128

Questions Cloud

What is the probability of a stockout : Demand follows a Normal distribution with daily mean = 15 units and daily standard deviation = 3 units. However, the company places a re-order thru Amazon.

Statements is example of futures market transaction : Which of the following statements is an example of a futures market transaction?

Explain the definition of security : Definition of Security The Farmer's Cooperative of Arkansas and Oklahoma (CoOp) was an agricultural cooperative that had approximately 23,000 members.

Compute the projected annual net profit of the policy : Demand for disposable razors at Chevere Drugs Store (CDS) averages seven packages per day. The razors cost CDS $0.80 per package and sell for $1.49.

How much interest will you have paid on the loan : Five years ago you took out a 10-year amortizing loan to purchase an apartment. how much interest will you have paid on the loan?

Develop a linear model that relates demand to price : The demand for airline travel is quite sensitive to price Typically, there is an inverse relationship between demand and price; when price decreases, demand in.

Estimate the fair market value of equity per share : Estimate the fair Market value of ABC’s equity per share at the end of year 2016. Assume the value of debt is Kes 25 Million.

The public firms were regular dividend payers : Over the past three decades about half of the public firms were regular dividend payers, while the other half were not paying dividends at all.

What is the definiton of deficit need : What is the definiton of deficit need? What are two things that Herzburg considered to be "deficit needs" in the workplace?

User Account

All Pages