What is the principal balance in given time period

Assignment Help Finance Basics

Reference no: EM132060840

Question: You purchase a house that costs $850,000 with an 8%, 30 year mortgage. you are required to make a down payment of 20%.

a. What is your monthly payment ?

b. What is the principal balance after 8 years and 2 months ?

c. What is the total amount of interest you will end up paying over the life of the mortgage?

Reference no: EM132060840

Questions Cloud

Find the pseudo-american option value : The risk-free interest rate is 0.8% per month, and the stock's volatility (standard deviation) = 17% per month. Find the pseudo-American option value.

How much is the money worth today : Kristen's grandmother promises to give her $3,000 at the end of three years and $4,000 at the end of four years. How much is the money worth today

Compute the roe using the dupont analysis : XYZ Corporation has the following financial information for the previous year: Sales: $8M, PM = 8%, CA = $2M, FA = $6M, NWC = $1M, LTD = $3M .

How many customers will be in the bank : On average, how many customers will be in the bank, including those currently being served? (Note: This is a M/M/2 problem.)

What is the principal balance in given time period : You purchase a house that costs $850,000 with an 8%, 30 year mortgage. you are required to make a down payment of 20%.

Set of jobs waiting to run on a machine : Given the following set of jobs waiting to run on a machine, Using the CR (critical ratio) how would you sequence these jobs?

What would you have to sell the stock for at time period : You purchase a share of stock for $36.11 at the time period 0, and receive a dividend or $3.00 at the time period 1. If you want to receive a return.

What is the minimum total annual cost : a. What quantity should be ordered each time? (Assume that the EOQ assumptions apply.) b. What is the minimum total annual cost (ordering + holding + purchase)

Explain how changes in activity affect contribution margin : This model is used to predict the impact on profits of changes in those parameters. Explain how changes in activity affect contribution margin

User Account

All Pages