What is the monthly payment on the loan

Assignment Help Financial Management

Reference no: EM131952791

A couple has just purchased a home for $421,500.00. They will pay 20% down in cash, and finance the remaining balance. The mortgage broker has gotten them a mortgage rate of 3.96% APR with monthly compounding. The mortgage has a term of 30 years. What is the monthly payment on the loan?

Reference no: EM131952791

Questions Cloud

The graduate plans-how expensive of dream car : Given the graduate’s plans, how expensive of a “dream car” will he expect to be able to purchase in four years?

Married couple has carefully looked at their budget : A young married couple has carefully looked at their budget. What is the mortgage that the couple can apply for based on their budget and the offered terms?

Young graduate is saving for house : A young graduate is saving for house on Lake Hartwell. Given the graduate’s plans, how expensive of a lake house will he expect to be able to purchase?

Under the terms of the agreement all payments : Under the terms of the agreement all payments are made at the end of each year. what would be the player's annual salary (in millions of dollars)?

What is the monthly payment on the loan : The mortgage has a term of 30 years. What is the monthly payment on the loan?

What is the debit balance of this transaction : What is the debit balance of this transaction? How much equity funds must the investor provide to make this margin transaction?

Compute book value per share : Compute book value per share. Compute the earnings per share. (EPS), Compute market value per share.

What will be yearly withdrawal for son from trust : A wealthy parent is trying to fund a trust fund for his oldest son. What will be the yearly withdrawal for the son from the trust?

What priced house can couple afford : A young married couple has carefully looked at their budget. what priced house can the couple afford?

User Account

All Pages