How much is each monthly payment

Assignment Help Finance Basics
Reference no: EM132007006

How do you Calculate this question? You plan to buy a $240,000 house with a 30 year mortgage with a 4.8% nominal annual rate (=A.P.R.) Payments are monthly, interest is monthly compounded, and you did not make a down payment. Assume you make all payments on time, at the end of the month. Answer the following questions.

a) How much is each monthly payment? [2 decimal places]

b) How much interest will you pay with (=in) your 75th payment? [2 decimal places]

c) Now assume you have made payments such that you only owe $150,000 on the mortgage. You decide to increase your payments by $100 per month. How many payments will it take to pay off your mortgage?

Reference no: EM132007006

Questions Cloud

What would deferred revenue be as of the end of year : Assuming that the General Fund's deferred revenue at the beginning of Year 1 was $410,000, what would deferred revenue be as of the end of Year 3
Prepare the cash flows from operating activities : The 2014 accounting records of Blocker Transport reveal these transactions and events. Prepare cash flows from operating activities section using direct method
What is the component cost of debt : Mike Pub are trading at their par value of $,1000 and pay interest 1 times a year. If each interest payment is 11 what is the component cost of debt?
Write a reflection of your personal development plan : GRM4007 - Personal Development Planning - Gulf college - Devise and monitor an action plan for their personal development based on their awareness of the key
How much is each monthly payment : Assume you make all payments on time, at the end of the month. Answer the following questions.
Total market value of the equity : What is the book value per share? Show your answer to the nearest $.01. Do not use the $ symbol in your answer, thus if your answer is $2.80 enter 2.80.
What is the adjusting entry for supplies : At the end of the year, it was determined that $550 of supplies had been used. What is the adjusting entry for supplies
Percent and the market risk premium : A formula to calculate the question: The risk-free rate, kRF, is 6.6 percent and the market risk premium, (kM - kRF), is 5 percent.
How much money will you have in your account : And all accumulations earn 5.4% interest compounded annually, how much money will you have in your account by the end of year 26?

Reviews

Write a Review

Finance Basics Questions & Answers

  Find the present values of these ordinary annuities

Find the present values of these ordinary annuities. Discounting occurs once a year. a. $400 per year for 10 years at 10% b. $200 per year for 5 years at 5% c. $400 per year for 5 years at 0% d. Rework Parts a, b, and c assuming they are annuities du..

  What will be the rate of return on investment

She expects that you will receive $25,000 back at the end of three years. REQUIRED: If all goes according to plan, what will be the rate of return.

  Determine which items should be included in a statement of

presented below are selected financial statement items for rowe corporation for december 31 2012.inventory55000cash

  What is the stock expected price six years from today

The stock has a beta of 1.25, the risk-free rate is 4 percent, and the market risk premium is 5 percent. What is the stock's expected price six years from today?

  What is the new degree of operating leverage

what will be the increase in operating cash flow? What is the new degree of operating leverage?

  A specialized automatic machine costs 300000 and is

a specialized automatic machine costs 300000 and is expected to save 111837.50 per year while in operation.nbsp using

  Measuring the status of the labor market

What other indicators are important to consider when measuring the status of the labor market?

  What is alcatel-lucent wacc

Suppose Alcatel-Lucent has an equity cost of capital of 9.5 %, market capitalization of $ 10.22 billion, and an enterprise value of $14.0 billion with a debt cost of capital of 6.8% and its marginal tax rate is 34%. a. What is Alcatel-Lucent's WAC..

  Current national debt also fiscal deficit situation

Elucidate how we got here. Elucidate how do the two parties think we can get out of it also illustrate what you think can be done to remedy the situation.

  What is the size of the final? payment

A demand loan of ?$4000.00 is repaid by payments of ?$2000.00 after two ?years, ?$2000.00 after four ?years

  Why will it be hard to achieve stable interest rates

If the Fed fails to achieve low and steady inflation, why will it be hard to achieve stable interest rates?

  Whether the firm shut down in the short run

Whether the firm shut down in the short run under competitive and monopoly market? Why?

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