How much was your mortgage reduced in the first year

Reference no: EM13260192

You purchase a home for $100,000 with a 20 year mortgage at 12%. If you make annual mortgage payments, what is your annual payment?

PV =
FV =
PMT =
n =
i =

How much interest did you pay in the first year and how much was your mortgage reduced in the first year?

Reference no: EM13260192

Questions Cloud

What would the sofa cost to buy based on the foregoing : You lease a sofa for 4 years. APR is 11%. Annual payments starting up front at $180 (basically, $15 per month). There is a buyout option at the end of the lease for $600. What would the sofa cost to buy based on the foregoing?

Data warehouse and data mart technologies : How do data warehouse and data mart technologies support the decision-making process in an organization?

What is your annual payment : You buy a TV for $1,000 on credit. You pay no money down. No payments are required for 1 year. Interest is 11%. Only annual payments are allowed.

Determine the index of refraction of the syrup solution : laser beam is incident at an angle of 28.4° to the vertical onto a solution of corn syrup in water. If the beam is refracted to 19.04° to the vertical, what is the index of refraction of the syrup solution

How much was your mortgage reduced in the first year : How much interest did you pay in the first year and how much was your mortgage reduced in the first year?

How does poor health in homeless people impact society : Can health promotion be effective among homeless persons? Why or Why not? What are the greatest barriers? What can be done to overcome the barriers? How does poor health in homeless people impact society?

What is the benefit of the remodeling project : Heartland Insurance has agreed to pay an additional $81,943 a year in rent for the next 6 years. The discount rate is 0.1. What is the benefit of the remodeling project to Professional Properties?

What is the amplitude of motion for this mass : The maximum speed of a 2.5-kg mass attached to a spring is 0.55 m/s, and the maximum force exerted on the mass is 11 N. What is the amplitude of motion for this mass

What is the total amount of interest : Now, 1 year later, your aunt must inform the IRS and the person who bought the house about the interest that was included in the two payments made during the year.

User Account

All Pages