How much will you pay in interest

Assignment Help Financial Accounting
Reference no: EM133176128

Question - You have just purchased a home and taken out a $470,000 mortgage. The mortgage has a 30-year term with monthly payments and an APR of 6.72%.

a. How much will you pay in interest, and how much will you pay in principal, during the ?rst year?

b. How much will you pay in interest and how much will you pay in principal, during the 20th year (i.e., between 19 and 20 years from now)?

Reference no: EM133176128

Questions Cloud

Discuss the impact of the affordable care act : Discuss the impact of the Affordable Care Act (ACA) on the increase in SNAP benefits for low-income families in the United States.
Outline the consequences for the agency : 1) What are the requirements of the legal regulatory framework for the handling of real estate trust accounts in the state or territory of operation? (victoria)
Principal regarding trust accounts : 1) What are the personal obligations, responsibilities, and legislative requirements of the agency Principal regarding trust accounts in real estate in Victoria
What rate can they offer the freelancers : If the company will meet the 80,000 chargeable hours and would want to have P 300,000 profits, what rate can they offer the freelancers
How much will you pay in interest : How much will you pay in interest and how much will you pay in principal, during the 20th year (i.e., between 19 and 20 years from now)
What amount of impairment loss anlene company recognize : As of December 31, 2021, the market rate of interest for a similar instrument is 9%. What amount of impairment loss should Anlene Company recognize
Prepare the journal entries for both the lessee and lessor : The computer was carried on Humphrey's books at a value of €600,000. Prepare the journal entries for both the lessee and lessor
Compute the standard cost of the ingredients for one gallon : Bridgeport Corp. manufactures and sells a nutrition drink for children. Compute the standard cost of the ingredients for one gallon of the nutrition drink
How landbanks manages government bonds : 1. Who manages the government bonds of Landbank of the Philippines

Reviews

Write a Review

Financial Accounting Questions & Answers

  Allocations schedule and sampa consolidation journal

allocations schedule and sampa consolidation journal entry.on january 1 2009 pampas company acquired 80 of smith

  Calculate depreciation expense under methods

Calculate depreciation expense under each of the following methods. Tamarisk is on a calendar-year basis ending December 31. (Round rate per hour)

  What is the number of shares to be used in computing earning

On January 1, 2012, Blue Corporation, What is the number of shares to be used in computing earnings per share on December 31, 2012?

  What is the value of the bond

The bond has a coupon of 8.4% payable annually and mature after 4 years. What is the value of the bond if investors demand a yield of 9.5%

  What is the depreciation expense related to mine building

What is the depreciation expense related to mine building? What are the amortization rate and the amortisation expense for the year ended 30 June 2022.

  Find what is the percentage of the founders family votes

Find What is the percentage of the founder's family votes to Class B votes? (Do not round intermediate calculations. Input your answer as a percent rounded)

  What amount would need to invest to have one year

If you are able to earn an 8% rate of return, what amount would you need to invest to have $30,000 one year from now? (Round to the nearest dollar.)

  What is payback period of a project with average annal cash

What is the payback period of a project with average annal cash outflows of $8,000 average annual cash inflows of $10,000 and an initial investement

  Explain the securitization process

Contrast a collateralized mortgage obligation with a collateralized debt obligation. Why blame for the credit crisis is a challenge to assign

  How the projected benefit obligation was underfunded

Pension plan assets (fair value) January 1, $180,000, and December 31, $230,000. The projected benefit obligation was underfunded at the end of 2016 by

  What will be the cash flow for the next year to mary

What will be the cash flow for the next year to Mary if she issues stock to another individual, remains open 6 days a week, and distributes all residual cash

  Prepare stockholder equity section of company

Prepare the stockholders’ equity section of the company’s balance sheet at the end of the current year. Assume Resisto Systems’s common stock is trading at $ 24 per share and its preferred stock is trading at $ 107 per share at the end of the curre..

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