How much interest will you pay over the lifetime of mortgage

Assignment Help Financial Management
Reference no: EM131942800

You decided to take a fixed rate mortgage for $250,000. The loan is fully amortizing, 30 year term, and has a 4% rate. If you hold this loan until maturity, how much interest will you pay over the lifetime of this mortgage? Round your answer to the nearest cent.

Reference no: EM131942800

Questions Cloud

Return on equity you are interested in selling : You receive an offer to sell the house for $5,150,000. If you can earn at least a 25% return on equity you are interested in selling.
Describes fully amortizing loan : Which of the following describes a fully amortizing loan? Which of the following describes what kind of mortgage this borrower has?
What will be your annual rate of house price appreciation : You receive an offer to sell the house for $550,000. If you decide to take the offer, what will be your annual rate of house price appreciation?
Difficulty of selling mortgage in secondary market : Which of the following terms describes the risk associated with the difficulty of selling a mortgage in the secondary market?
How much interest will you pay over the lifetime of mortgage : If you hold this loan until maturity, how much interest will you pay over the lifetime of this mortgage?
Mortgage with discount points and without discount points : If a borrower is choosing between a mortgage with discount points and one without discount points,
Origination fees to get loan : You currently have a $300,000 15 year fully amortizing fixed rate mortgage with a 4.5% rate (Loan A). You had to pay $3,000 in origination fees to get Loan A.
How much will the project IRR change : how much will the project IRR change? For a increase, enter a positive value, for a decrease enter a negative value.
Derive the stock price : We have the following information for Clough, Garcia and associates. Derive the stock price of (C&G).

Reviews

Write a Review

Financial Management Questions & Answers

  What is the issue maturity date

Wal-Mart has $2.0B of 6.2% bonds outstanding. What is the issue's maturity date? What is the current price of this bond?

  Annualize it to determine the effective cost of borrowing

The payoff is based on the exact number of days and a 360-day year. If you have a financial calculator or a spreadsheet with an IRR function, solve for the internal rate of return and annualize it to determine the effective cost of borrowing.

  Interest had compounded annually

Beatrice invests $1,410 in an account that pays 3 percent simple interest. How much more could she have earned over a 4-year period if the interest had compounded annually?

  Best guess as to the value of the bond

What is your one best guess as to the value of the bond?

  Arbitration to resolve the legal dispute

Daniel believes that a chemical company is responsible for contaminating some land that he owns. He files suit against the chemical company. Rather than have the case go to court, the chemical company's attorney suggests arbitration to resolve th..

  Compute allowance and net accounts receivable

In 2015, Variman, Incorporated had Gross Accounts receivable of $36,200 and management estimated the Allowance for Doubtful accounts to be $2,500. Compute the ratio of Allowance of Doubtful accounts to Net Accounts receivable for Variman, Inc. for 20..

  Compromising or contradiction its brand ethic credentials

How should a Western Multinational Enterprise develop its business in Myanmar? To more precisely, How should a business corporation achieve its market objectives in Myanmar without compromising or contradiction its brand ethic credentials?

  Differences between the gulf and the industry average ratios

INTERMEDIATE 9. Gulf Controls, Inc., has a net profit margin of 10 percent and earnings after taxes of $600,000. Its current balance sheet follows: Compare Gulf Controls with the average firm in the industry. What is the source of the major differenc..

  Operating costs including depreciation-cost of goods sold

A firm has revenue of $60,000, its total operating costs including depreciation and cost of goods sold are $50,620, depreciation is $4,620 and its interest expense on outstanding loans is $2,000. What is the firm’s EBIT? Suppose you could borrow usin..

  What the investor actual dollar-weighted average return

Determine what the investor’s actual dollar-weighted average return was for this five-year period.

  How would this affect forecast of volume

How would this affect forecast of volume. Why do countries trade with each other? What would happen if countries curtailed or did not trade with each other?

  In an efficient capital market

In an efficient capital market:

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