User Account

All Pages

Interest on the loan is compounded monthly

Assignment Help Finance Basics
Reference no: EM131190301

The following two loan questions are giving me difficulty. Can someone please help me? Thanks

1. The Holder family bought a house for $175,000. They paid 20% down and amortized the rest with a 30-year fixed mortgage loan at 4.5% compounded monthly. Find their monthly loan payment.

2. Calculate the total interest paid on a 30-year, 3.9% fixed-rate $200,000 mortgage loan.

Remember that number of compounding periods in a year n = number of payments expected to be made in a year. If you make monthly mortgage payments, then interest on the loan is compounded monthly.

Reference no: EM131190301

Questions Cloud

Various systems of accounting : Give relevant Explannation as well as examples to: Question 1: What are the various systems of Accounting? Explain them.
How long does it take until the can is filled : During production, the light bulbs are tested one by one, and the defective ones are put in a special can that holds up to a maximum of 25 light bulbs. On average, how long does it take until the can is filled?
Normal economy expected to occur : In a recessionary economy, which is expected to occur with a 30% probability, the expected returns would be -5%. In an expanding economy with an expected probability of occurrence of 20%, the expected return would be 10%. In a normal economy expected..
Assess how the chain of custody will be maintained : Explain how the evidence should be processed, including the basic scientific analysis to be performed on each piece of evidence and the laboratory equipment that will be utilized.
Interest on the loan is compounded monthly : 1. The Holder family bought a house for $175,000. They paid 20% down and amortized the rest with a 30-year fixed mortgage loan at 4.5% compounded monthly. Find their monthly loan payment. 2. Calculate the total interest paid on a 30-year, 3.9% fi..
Find the equation for the set of points : Find the equation for the set of points whose distance from the x-axis equals the distance from the yz-plane.
Discuss the pros and cons of removing the fema : Is the grant requirement wise within the context of the new types of terrorist hazards domestically, or is it simply a waste of taxpayers' money, especially when there are so many other hazards, particularly natural disaster relief, that could use..
Calculate the reconciled balance for linda : Deposits in transit amounted to $353.26 and there was a service charge of $9.00. Outstanding checks were Fi$390.10, $42.68, and $149.10, and the interest earned was $128.84. Find the reconciled balance.
Calculate the sample size mean and standard deviation : Calculate the sample size, mean, median, and standard deviation for ounces in the bottles. Construct a 95% Confidence Interval for the ounces in the bottles.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd