What is the difference in total interest paid of mortgages

Assignment Help Econometrics
Reference no: EM13224437

A morgage banking company has been evaluating the merits of a 50 years morgage in (in addition to thier popular 30 years morgage). the basic idea is to reduce the monthly payment and make home owenership more affordable. the APR of either morgage is 6% and the compounding is monthly.

1. for a mortgage loan of $300,000, what is the difference in monthly payment for the 30 year mortgage and 50 years mortgage?

2. what is the difference in total interest paid between the two mortgages?

Reference no: EM13224437

Questions Cloud

Is there a different effect on the process if pay for pizza : While referring to the "EYE on YOUR LIFE" section on page 279 of the textbook, apply the Money Multiplier process. Discuss and describe the effect you have on this process when you visit the ATM to get some cash to pay for your late-night pizza.
Determine three sigma control limits for an x-bar chart : Determine three sigma control limits for an x-bar chart assuming a sample size of 10. If specifications are 5.98 to 6.02, what run size should be used for this job so that the expected number of good candy bars is 200, assuming the process is in c..
The president of a bank is attempting to arrange a meeting : The president of a bank is attempting to arrange a meeting with the three vice presidents for a friday
East asia rivers provide : East asia rivers provide ? a.little hydroelectric power because the are so small ? b.europeans needed more workers in the americas ? c africans took arabs across the sahara d.islamic traders replaced european traders in westren africa
What is the difference in total interest paid of mortgages : A morgage banking company has been evaluating the merits of a 50 years morgage in (in addition to thier popular 30 years morgage). the basic idea is to reduce the monthly payment and make home owenership more affordable.
Base stationcellular communication systems : A base stationcellular communication systems lossless antenna has a maximum gain of 16 dB (above isotropic) at 1,900 MHz. Assuming the input power to the antenna is 8 watts, what is the maximum radiated power density (in watts/cm2) at a distance of 1..
How many observations fall into various categories : Question 1 Which of the following indicates how many observations fall into various categories?
What are your thoughts on google handling of the situation : As of today, can Chinese people do google searches from within China? What are your thoughts on Google's handling of the situation?
How much will depositor have in the account 10 years : if you deposit $1000 now, $3000 four years from now follows by five quartely deposite decreasing by $500 per quarter at an interest rate of 12% per years compounded quartely. how much will you have in your account 10 years from now

Reviews

Write a Review

Econometrics Questions & Answers

  Design a simple econometric research project

Design a simple econometric research project

  Multiplicative decomposition method

Multiplicative decomposition method

  Market for cigarettes

The Australian government administers two programs that affect the market for cigarettes.

  Solve the forecast model

Solve the forecast model

  What are the marginal abatement cost functions

What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).

  Write the t statistic for testing the null hypothesis

Explain why this model violates the assumption of no perfect collinearity.  Write the t statistic for testing the null hypothesis

  What is economics system

What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type

  Multiple choice questions related to market concentration

Determine when a competitively produced product generates negative externalities in production, the industry will,

  Calculating number of units produced by firm

Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.

  Question about mobile commerce

M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.

  Calculating the average days past due and average flow time

Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:

  Mechanism of an english auction and second price auction

Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.

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