How much of the original loan have you paid off

Assignment Help Financial Management
Reference no: EM131503054

This year (10 years after you first took out the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $84,954 left to pay on your loan. Your house is now valued at $150,000.

Your current situation

How much of the original loan have you paid off? (i.e, how much have you reduced the loan balance by? Keep in mind that interest is charged each month - it's not part of the loan balance.)

How much money have you paid to the loan company so far (over the last 10 years)?

How much interest have you paid so far (over the last 10 years)?

How much equity do you have in your home (equity is value minus remaining debt)

Reference no: EM131503054

Questions Cloud

Makes and distributes energy-efficient lighting products : Technical Consumer Products, Inc. (TCP) makes and distributes energy-efficient lighting products.
Annual report of any company : locate the notes to the financial statements located in the annual report of any company you choose.
Three major functions of the financial manager : What are the three major functions (DECISION AREAS) of the financial manager? How are they related?
Ethics in business and social responsibility : Give some examples in your life about what you have learned on Memory and then give me example how you can apply it to ethics in business-social responsibility.
How much of the original loan have you paid off : How much of the original loan have you paid off? How much money have you paid to the loan company so far (over the last 10 years)?
What is value of each bond at this moment : Bond A is a 12-year 7% annual coupon bond. What is value of each bond at this moment (t=0)?
Break-even ebit : Break-even EBIT?-Find the? break-even EBIT for Alpha Company using EPS if there are no corporate taxes.
Currency exchange rates : Currency exchange rates. How much do you have left in U.S. dollars after the? trip?
Breakeven price-considering change in its cash-only policy : The Seducer Corporation is considering change in its cash-only policy. what is the break-even price per unit that should be charged under the new credit policy.

Reviews

Write a Review

Financial Management Questions & Answers

  Break-even point in unit sales using the equation method

Mauro Products distributes a single product, a woven basket whose selling price is $13 and whose variable expense is $10.14 per unit. The company’s monthly fixed expense is $6,578. 1. Solve for the company’s break-even point in unit sales using the e..

  Which type of negotiable instrument

Is this a negotiable instrument? Explain. Which type of negotiable instrument is this? Explain

  Value preferred stock with a stated maturity

Explain how using the dividend discount model (DDM) to value a preferred stock with a stated maturity differs from valuing a preferred stock with no maturity, and discuss how the price of a share of preferred stock is calculated in both cases.

  Why do soft technologies open more opportunities for women

Why do the soft technologies open more opportunities for women? To what extent have these technologies impacted the perceptions of men’s and women’s roles in the economy, within marriage, and in society as a whole?

  Opened an incorporated dental practice

Jim Haught, D.D.S., opened an incorporated dental practice on January 1, 2014. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $780 of such se..

  Calculate cost of goods manufactured and cost of goods sold

Scott Investors, Inc., is considering the purchase of a $360,000 computer with an economic life of five years. The computer will be fully depreciated over five years using the straight-line method. The market value of the computer will be $60,000 in ..

  Compute zero-volatility spread over the treasury spot rate

The market price of a 4-year 6% coupon non-Treasury issue is $102.4083. Calculate the yield to maturity. Compute the zero-volatility spread over the Treasury spot rate.

  What is the large cap risk premium given the returns

What is the large cap risk premium given the following returns?

  Compute the bonds expected rate of returndetermine the

you own a 20-year 1000 par value bond paying 7 interest annually the market price of the bond is 875 and your required

  Treasury note maturing

A. Suppose that a U.S. Treasury note maturing June 15, 1995 is purchased with a settlement date of February 17, 1994. The coupon rate is 4.125% and the par value is $100,000. The next coupon date is June 15, 1994. What is the full (dirty) price of th..

  Target capital structure-what is the aftertax cost of debt

Mullineaux Corporation has a target capital structure of 60 percent common stock, 15 percent preferred stock, and 25 percent debt. Its cost of equity is 10 percent, the cost of preferred stock is 4 percent, and the pretax cost of debt is 6 percent. T..

  Evaluate the performance of business units

Select and apply investment appraisal techniques appropriately - Evaluate the performance of business units using both financial and non-financial measures.

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