What is the interest component of the 25th repayment

Assignment Help Finance Basics
Reference no: EM132544461

You are considering the purchase of a home for 700000$. You have available a deposit of 100000$. The bank will lend you money at 7 percent per annum compounded monthly over a period of up to 20 years. If you borrow the required fund over 20 years, what are the monthly repayments? After 2 years, how much do you still owe the bank? What is the interest component of the 25th repayment?

Reference no: EM132544461

Questions Cloud

Calculate the amount XYZ Company supplies balance : Calculate the amount XYZ Company's supplies balance at December 31, 2022 must be equal to in order for them to achieve their goal.
Compute the cost of capital of the company : You work for TFNZ Hydrotech, a large manufacturer of high-pressure industrial water pumps. The Company specializes in natural disaster services
Calculate the amount of unearned revenue shown in ABC : ABC Company is a magazine publisher. Calculate the amount of unearned revenue shown in ABC Company's balance sheet at December 31, 2023.
What is the interest component of the 25th repayment : You are considering the purchase of a home for 700000$. You have available a deposit of 100000$. The bank will lend you money at 7 percent per annum compounded
What is the interest component of the 25th repayment : If you borrow the required fund over 20 years, what are the monthly repayments? After 2 years, how much do you still owe the bank?
What the adjusting journal entry collins equipment rentals : Collins Equipment Rentals, What The adjusting journal entry Collins Equipment Rentals needs to record at December 31 of the current year is
Why companies would want to have leases : Explain why companies would want to have leases classified as Operating leases. What would the indicators be for this determination?
How much is the interest expense for the year ended December : On January 1, 2017, ENTITY A issued P7,000,000 12% 5-year convertible bonds at 110. How much is the interest expense for the year ended December
What is the initial cost of the right of use asset : The entity has the option to purchase the equipment on the expiration of the lease term by paying P500,000. What is the initial cost of the right of use asset

Reviews

Write a Review

Finance Basics Questions & Answers

  How much should robert pay per month if he wants to pay off

If Robert pays $180.80 (the minimum required payment) per month, how long will it take to pay off the credit card bill?

  Computation of present value of cash flow stream

Computation of present value of cash flow stream and what is the present value of the following cash flow stream

  Ipo advantages and disadvantages

Discuss some of the advantages and disadvantages of going public. Have you been with an organization during the time it went public? If so, describe your experience.

  How does the quest for quality affect logistical operations

How does the "quest for quality" affect logistical operations? Does the concept of total quality have relevancy when applied to logistics?

  How much will the teacher have in principal and interest

A teacher won $100,000 and invests this money for 5 years at an interest rate of 4% (compounded annually).

  Find the payback period

During Year 3 the firm will receive $3,510 which is greater than $1850. Assuming that cash flows will be received gradually during year 3, it takes $1850/$3510

  The widget industry in the springfield is competitive with

the widget industry in springfield is competitive with numerous buyers and sellers. consumers dont differentiate among

  Variety of information technology

Yagan Systems provides a variety of information technology related services including Web hosting, data backup, and Web security consulting.

  Hampton corp is considering two mutually exclusive projects

hampton corp. is considering two mutually exclusive projects. both require an initial investment of 10000 at t0.

  At what rate have sales been growing

At what rate have sales been growing? Round your answer to the nearest hundredth.

  Ratios equal to the industry averages

1. If a company strives hard, any gets all of its ratios equal to the industry averages, what type of company would it be? 2. Other than industry averages, what else can we use?

  What is the value of lin annuity

Lin Lowe plans to deposit $1,800 at the end of every 6 months for the next 15 years at 8% interest compounded semiannually. What is the value of Lin's annuity at the end of 15 years?

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