User Account

All Pages

What fraction of payments went to reducing the principal

Assignment Help Accounting Basics
Reference no: EM132723994

Mortgage Payoff:

Question 1: You take out a 30-year fixed rate mortgage or a house. The amount borrowed is $300,000. The interest rate is 4% per year compounded monthly. You decide to sell the house immediately after the 60th payment (five years). How much do you still owe on the loan?

Question 2: What is the total amount you have paid the lender by the time you sell the house?

Question 3: How much principal have you paid the lender by the time you sell the house?

Question 4: How much interest have you paid the lender by the time you sell the house?

Question 5: What fraction of your payments went to reducing the principal?

Reference no: EM132723994

Questions Cloud

Prepare the journal entry to close amount of underapplied : Prepare the journal entry to close the amount of underapplied or overapplied overhead to the appropriate account. (If no entry is required for a transaction)
Discuss the concept of globalization vs customization : Discuss the concept of globalization vs. customization and the measures taken by the global brand to recognize that offerings and communication should be adapt
Find what price will product retail : As a small appliance manufacturer, your cost to manufacture and package your coffee maker is $10, To the nearest cent, for what price will your product retail?
Find what is wholesaler selling price to the nearest cent : Find What is the wholesaler's selling price to the nearest cent, and how much to the nearest cent, can you sell the blenders to the wholesaler?
What fraction of payments went to reducing the principal : What fraction of your payments went to reducing the principal? What is the total amount you have paid the lender by the time you sell the house?
Determine what minimum taxable capital gain to be reported : Balance to be paid in equal annual instalments over the following five years. What is the minimum taxable capital gain to be reported in Year 2?
Prepare the journal entry to record the retirement of bonds : Prepare the journal entry to record the retirement of these bonds. Boston Company issued bonds a few years ago with a face amount of $2,000,000.
How creating responsibility centers would hold manager : Who should be held accountable for the breakdown and the additional cost that Paula has to pay. Discuss how creating responsibility centers would hold
Find the warranty liability and expense amounts : Find the warranty liability and expense amounts for 2020. Round all values to the nearest dollar. Payments for completed warranty repairs are paid in cash.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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