Solution-How much would my payments be per month

How much would my payments be per month

Assignment Help Mathematics

Reference no: EM131034033

The loan $124,000 with a 30 year agreement and 4% interest. The down payment is 3.5% so I paid $4,430 giving me a balance of $119,660. If I were to pay my monthly payments of $571.28 on time (with no extra payments) for 30 years my TOTAL (with interest) would be $205,659.05. In INTEREST ONLY I will pay $85,999.05.say 10 years into the 30 year agreement my youngest child grows up and does not need a nanny anymore, giving me $200 extra a month.

A. How much would my payments be per month?

B. What would be my FINAL TOTAL COST?

C. How much money in total interest would I save with this plan instead of the original?

Reference no: EM131034033

Questions Cloud

What the best way to solve for a derivative : What's the best way to solve for a derivative? And the second derivative

What is the value of 3c4? : What is the value of 3C4? How you got the answer? Explain with steps.

Create two scenarios that focus on political debates : From the weekly readings and first e-Activity, analyze three (3) challenges public leaders face when the business of private leaders takes precedence over the business of the government. Recommend two (2) sound strategies that public leaders could..

Explain the risks of the interest rate swap position : Explain the risks of the interest rate swap position and how could it be could be hedged - calculate a one year EiS forward rate and explain how it could be used the hedge the currency risk.

How much would my payments be per month : The loan $124,000 with a 30 year agreement and 4% interest. The down payment is 3.5% so I paid $4,430 giving me a balance of $119,660. If I were to pay my monthly payments of $571.28 on time (with no extra payments) for 30 years my TOTAL (with intere..

Calculate the rate of heat transfer per m 2 of surface area : The inner surface of a plane brick wall is at 40°C and the outer surface is at 20°C. Calculate the rate of heat transfer per m 2 of surface area of the wall, which is 250 mm thick. The thermal conductivity of the brick is 0.52 W/mK.

Discuss any significant disadvantages that you would expect : Discuss any significant disadvantages that you would expect in issuing a high coupon bond - If Tangential wishes to pay US dollars and not Japanese Yen, what can the company do? Illustrate and analyse your answer with diagrams showing the cash flo..

Show that the beam-warming method : A)Show that the Beam-Warming method is second order accurate on the advection equation. B)Derive the modified equation on which Beam-Warming is third order accurate.

Appropriate for performing a fast and inexpensive study : Which of the following studies are not appropriate for performing a fast and inexpensive study? (choose all that apply) Select one or more: a. Case Control b. Cohort c. Ecological d. Cross Sectional e. Case Series f. Experimental

User Account

All Pages

How much would my payments be per month

Reference no: EM131034033

Reference no: EM131034033

Questions Cloud

Reviews

Write a Review

Mathematics Questions & Answers

Questions on ferris wheel

Logistic map

Finding the probability of cards

Systems of ode

Derive the boolean expression

System of equations

Linear programming problem

Find the natural domain

Introduction to numerical methods

Chart of the topological manifold

Mathematics in computing

Complex problems

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT