What is the outstanding balance

Assignment Help Business Economics
Reference no: EM131806989

For an $85,000 mortgage with a 30-year term and a 12% nominal interest rate, what is the monthly payment? After the first year of payments, what is the outstanding balance? After the first 10 years of payments, what is the outstanding balance?

Reference no: EM131806989

Questions Cloud

Generalize widely to a large group of physiotherapy : Physiotherapy Suppose a new medicine to help patients suffering from arthritis was developed and tested. Patients voluntarily entered the study.
What is the thesis of the critical article you have chosen : What is the thesis of the critical article you've chosen? What point does the author want to make about Frankenstein?
Equation using engineering economy factors : For a $85,000 mortgage with a 30-year term and a 12% nominal interest rate, write an equation using engineering economy factors for the outstanding balance afte
What is the present worth of maintenance costs : What is the present worth (at 12%) of maintenance costs that start in year 1 at $4500 per year and then climb by $225 per year when the warranty expires.
What is the outstanding balance : After the first year of payments, what is the outstanding balance? After the first 10 years of payments, what is the outstanding balance?
Solving the problem of the sam : Assume that Sam (of Problem) receives an annual raise of $1200. Compared with Problem 3.64, how much less is his salary in year 10? Year 20? Year 30? Year 40?
What is the monthly payment : A 30-year mortgage for $140,000 is issued at a 9% nominal interest rate. What is the monthly payment? How long does it take to pay off the mortgage
Compute the monthly break-even point : Compute the monthly break-even point for the new product in units and in total dollar sales
What will be the firm new annual payments : After the 13th payment, the firm refinances the balance at 6%, to be paid off in 35 equal annual payments. What will be the firm's new annual payments?

Reviews

Write a Review

Business Economics Questions & Answers

  What is the new equilibrium price of televisions

Suppose a Japanese company discovers a way to split its production process for televisions into two tasks: component production and assembly, and assembly can be offshored to Indonesia. Together, 0.8 units of production labor and 0.2 units of assembl..

  Rate of return company can get in this equipment proposal

An equipment costing $52,500 is being considered for a production process at Dew Chemicals. The expected benefits per year is $5,000 and estimated salvage value is $9,000. Determine the rate of return the company can get in this equipment proposal. E..

  Use the budget equation and donalds demand for doughnuts

Donald is a stamp collector. The only things other than stamps that Donald consumes are Harold’s doughnuts. It turns out that Donald’s preferences are quasilinear, represented by the utility function U(d, s) = ln d + s, where d is the number of dough..

  Major overhaul expenses in addition to annual maintenance

A proposed bridge will lust 40 years, Annual maintenance will be $16,000 Major overhaul expenses in addition to the annual maintenance will occur at the end of years 10 and 30. Each overhaul will cost $20,000. First cost is $120,000. If i = 10%, the ..

  Addition to the proceeds from the home sale

If homeowners purchased a $250,000 home with a zero-down, interest-only mortgage, and the value of the home subsequently fell to $200,000, in order to sell the house and move to another city, the homeowners would be required at closing to pay

  Describe the shape of these indierence curves

Linus has the utility function U(x; y) = x + 3y. Draw the indierence curve that goes through point (3,3), and the indierence representing combinations that gives Linus a utility of 6. a) Describe the shape of these indierence curves. If the price of ..

  The australian dollar

The Australian dollar has appreciated strongly over the past decade, leading to increased concerns over the impacts of the high exchange rate on trade-exposed sectors of the economy".

  Illustrate what can be done to alleviate-remedy any problem

xplains with aid of a diagram, effect that such legislation will have/has had on equilibrium price and quantity of labour employed. Also illustrate what can be done to alleviate/remedy any problem that may rise from above laws.

  Deadweight loss-the supply of lettuce in the short run

The supply of lettuce in the short run will be? ________ than the supply in the long run and? ________ than the supply today. Deadweight loss is

  Milk for the smallest additional quantity of beer

A student is first and foremost interested in beer and would be willing to forgo any quantity a milk for the smallest additional quantity of beer.

  Phenomenon is known as theinterest rate effect

As the price level rises, the purchasing power of households’ real wealth will , causing the quantity of output demanded to . This phenomenon is known as the effect. Net exports will thereforefall , causing the quantity of domestic output demanded to..

  What happens to average total cost curve for same drug

When patent protection expires for a pharmaceutical company, it forces changes within the company to adjust its business strategies from a monopolist position to a position that is much more competitive. What happens to the average total cost curve f..

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