Mortgage with simple annual interest rate

Assignment Help Financial Management

Reference no: EM131314369

You have a 10-year mortgage with a simple annual interest rate of 8.5 percent. The monthly payment is $1,000. What percentage of your total payments over the first three years goes toward the repayment of principal?

Reference no: EM131314369

Questions Cloud

What is the average flow time : If you order these jobs by Shortest Process Time rule, the order will be: [ Select ] If you order these jobs by Earliest Due Date rule, the order will be: [ Select ] What is the Average Flow Time if the jobs are scheduled using the Shortest Processin..

Discuss the relative merits of using quotas or tariffs : Your country has decided to protect temporarily a major industry that is declining in the face of international competition. The options are to use quotas or tariffs on imports Discuss the relative merits of using quotas or tariffs.

Use the continuity and momentum relations : The pressure at sections 1 and 2 is approximately hydrostatic, and wall friction is negligible. Use the continuity and momentum relations to find h2 and v2 in terms of (h1, v1).

What is the reliability of the system : An operation consists of 3 steps. The first step has a reliability of 0.81. The step has a reliability of 0.96. The third step has a reliability of 0.92. What is the reliability of the system?

Mortgage with simple annual interest rate : You have a 10-year mortgage with a simple annual interest rate of 8.5 percent. The monthly payment is $1,000. What percentage of your total payments over the first three years goes toward the repayment of principal?

Reliability of the system with redundancy : A system consists of 2 steps. The first has a reliability of 0.94. The second has a reliability of 0.95. You consider the system reliability too low. You decide to add in a backup to step one. You add in a cheaper part with a reliability of 0.76. ..

What will be your ending balance when you close the account : You plan to invest $1,250 in a money market account which will pay an annual stated (simple) interest rate of 8.75 percent, but which compounds interest on a weekly basis. If you leave this money on deposit for two years, what will be your ending bal..

District manager for newspaper home delivery : You are the district manager for newspaper home delivery. The total number of papers delivered is each day is 934. The number of complaints over the past 7 days can be found in the table below:

Do you think this is a good method to help fix our roads : Based on what you know about economic incentives, what are some of the pros and cons of this idea and how will it change/or not change behavior in your opinion - Do you think this is a good method to help fix our roads?

User Account

All Pages