What amount of principal would be due

Reference no: EM13258169

On January 1, 2004 XYZ Companypurchased a building for $200,000 by executing a $200,000 fullyamortizing bank mortgage with a 10-year term bearing interest at an annual rate of8% compounded monthly. Monthly payments of principal and interest amounting to $2,426.55 are to be made at theend of each month with the first payment due January 31, 2004. If XYZ decides to pay off the entire mortgage inMarch, 2004 after just two monthly payments of $2,426.55 have been made, what amount of principalwould be due?

A) $195,146.90

B) $197,342.23

C) $197,806.28

D) $198,906.78

E) $200,000.00

Reference no: EM13258169

Questions Cloud

Explain a solution is prepared by mixing of naocl : A solution is prepared by mixing 500. mL of 0.10 M NaOCl and 500. mL of 0.20 M HOCl. What is the pH of this solution? [Ka(HOCl) = 3.2 ? 10-8]

What amount must you deposit each year : You want to have $82,000 in your savings account 13 years from now, and you're prepared to make equal annual deposits into the account at the end of each year. If the account pays 7.30 percent interest, what amount must you deposit each year?

Calculate snr given a noise specification of 680nv : For a Wien-bridge oscillator (a) Given R = 50Kohm and C = 100nF what is the frequency of oscillation (b) Given a required frequency of oscillation of f = 10kHz and R = 8kohm, what should the value of C be

Approximate total ordering cost : Her purchase price is $6 for each box of discs and she has determined that storage costs for one year are 25 percent of thepurchase price. What is her approximate total ordering cost?

What amount of principal would be due : If XYZ decides to pay off the entire mortgage in March, 2004 after just two monthly payments of $2,426.55 have been made, what amount of principal would be due?

Determine the incident and transmitted angles : Light is incident from air to glass at Brewster's angle. Determine the incident and transmitted angles. Glass has refractive index n2=1.45.

Calculate the sample size needed given these factors : Calculate the sample size needed given these factors: one-tailed t-test with two independent groups of equal size small effect size (see Piasta, S.B., & Justice, L.M., 2010) alpha =.05 beta = .2 Indicate the resulting alpha and beta.

Find the intensity of the beam transmitted into the water : A He-Ne laser beam with an intensity of 1.00 x 103 W/m2 is incident from air to water, Find the intensity of the beam transmitted into the water

Describe the rise time-the overshoot and the settling time : Discuss the sequence of actions that occur in the operation of the control system for a traffic light that includes sensors in the roadbed. Indicate which actions are time-driven and which actions are event-driven.

User Account

All Pages