What is my current payoff on my loan

Assignment Help Financial Management

Reference no: EM131322394

Assume that exactly five years ago I borrowed $417,000. My loan has an interest rate of 4.25% and the term of the loan is 30 years (with required payments to be made every month). If I made every required payment on time for the first 60 months of the loan, what is my current payoff on my loan (that is, immediately after making my 60th payment)

Reference no: EM131322394

Questions Cloud

Describe your system and use churchmans system : Describe your "System" and use Churchman's System's Approach as a guideline as well (see below). At this level, we are very general. Try to stay around 2-3 pages. You may or may not include IT dys-function?

Organizational visions statements of the two companies : 1. Compare and contrast the mission and/or organizational visions statements of the two companies. What are the similarities and differences? How do you think these statements impact the culture of each organization?

Decide what unit of text will be analyzed : Decide what unit of text will be analyzed, -operationally define what it means for something to be written in a "personal style,"

How many individuals can a manager direct efficiently : How many individuals can a manager direct efficiently and effectively? Where should decision-making authority lie - entirely with the manager or more as collaboration between manager and staff

What is my current payoff on my loan : Assume that exactly five years ago I borrowed $417,000. My loan has an interest rate of 4.25% and the term of the loan is 30 years (with required payments to be made every month). If I made every required payment on time for the first 60 months of th..

Find and simplify the derivative of the given function : Without a computer algebra system, use differentiation rules to calculate the derivative. Make sure that the answer simplifies to the same answer as in part (a).

What is the average processing time per ez tax form : An accounting firm is capable of processing 20 EZ tax forms per day and the average number of forms on-hand in the office is 64 forms. What is the average processing time per EZ tax form?

What are adjusting entries and why are they necessary : What are adjusting entries and why are they necessary? In your chosen company, which accounts might require adjusting entries? Why is it unethical not to record adjusting entries when required? What difference does it make?

Explain the concept of multi cause versus single cause : Explain the concept of multi cause versus single cause in regards to an accident. Explain in detail how this concept is relative to an aviation safety program.

User Account

All Pages