User Account

All Pages

What is the payoff amount

Assignment Help Accounting Basics
Reference no: EM133114369

Question - When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 8% per year. The annual payment on the mortgage is $8,994. You have just made a payment and have now decided to pay the mortgage off by repaying the outstanding balance.

a. What is the payoff amount if you have lived in the house for 10 years (so there are 20 years left on the mortgage)?

b. What is the payoff amount if you have lived in the house for 22 years (so there are 8 years left on the mortgage)?

c. What is the payoff amount if you have lived in the house for 10 years (so there are 20 years left on the mortgage) and you decide to pay off the mortgage immediately before the 10 th payment is due?

Reference no: EM133114369

Questions Cloud

What arbitrage opportunity is available : Suppose a security with cash flows of $100 in one year and $200 in two years is trading for a price of $260. What arbitrage opportunity is available
Three-year interest rate cap : Woland National Bank purchases a three-year interest rate cap for a fee of 1 percent of notional principal valued at $50 million, with an interest rate ceiling
What is heavy rain cost of retained earnings : What is Heavy Rain's cost of retained earnings using the Gordon Model (DDM) approach?
Define the term divestiture : Explain what a leveraged buyout (LBO) is. Define the term divestiture and briefly discuss the major types of divestitures.
What is the payoff amount : The annual payment on the mortgage is $8,994. What is the payoff amount if you have lived in the house for 10 years
What is the shareholder equity at the end of the year : During the year, assets increased by P520,000 and liabilities decreased by P820,000. What is the shareholder's equity at the end of the year
CMP1042 Information Systems Assignment : CMP1042 Information Systems Assignment Help and Solution, Academy of Information Technology - Assessment Writing Service
Promoting international trade : Promoting international trade is not a zero-sum game. It is a win-win proposition; both parties gain from trade.
Determining the quarterly holding period return : A real estate fund has a beginning equity value of $400 and an ending value of $475 during one quarter. The fund distributed $40 per month to owners at the end

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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