What is my current payoff on my loan

Assignment Help Finance Basics
Reference no: EM131710693

Assume that exactly four 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 48 months of the loan, what is my current payoff on my loan (that is, immediately after making my 48th payment)?

Reference no: EM131710693

Questions Cloud

Determining the cost-cutting proposal : Ruler Industry is considering a 4-year project with an initial cost for fixed assets of $618,000. The project will have to occupy a plant the company.
Current stock price of nomura : The risk free rate is 6% per annum. What should the current stock price of Nomura be in order to prevent arbitrage?
Explain the individual and institutional discrimination : Explain the difference between individual and institutional discrimination, giving examples of each type of discrimination.
The risk to the jobs in the us if energy supplies disrupted : Consider past disastrous oil spills as well as the threat of war in the Middle East and the risk to the jobs in the US if energy supplies are disrupted
What is my current payoff on my loan : If I made every required payment on time for the first 48 months of the loan, what is my current payoff on my loan.
Discuss how handelsbanken try to motivate their employees : Discuss how Handelsbanken try to motivate their employees in their branches through the organizational climate?
Acting in the shareholders best interests : Your company's management immediately begins fighting off this hostile bid. Is management acting in the shareholders' best interests? Why or why not.
Define the environment than poor countries : countries with prosperous economies take better care of the environment than poor countries
Make decisions regarding strategies to minimize the costs : Is it true that in a short-run production process, the marginal cost curve eventually slopes upward because firms have to pay workers a higher wage rate as they

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!

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