What is the remaining balance on your mortgage today

Reference no: EM13261992

Your family purchased a house three years ago. When you bought the house you financed it with a $160,000 mortgage with an 8.5 percent nominal interest rate(compounded monthly). The mortgage was for 15 years (180 months). What is the remaining balance on your mortgage today?

Could someone solve this problem by excle or a financial calculator? I rarely use formulas.

Reference no: EM13261992

Questions Cloud

What would be the pv of the loan : Assume a bank loan requires an interest payment of $85 per year and a principal payment of $1,000 at the end of the loan's eight-year life.

Major groups of controls on the oscilloscope : Name the four major groups of controls on the oscilloscope and briefly describe the purpose of each group?

What will be the expected cost of the rail cars : What will be the expected cost of the rail cars and how much would the money market hedge return in six months assuming Plains States reinvests the proceeds at the U.S. investment rate?

What is the interest tax shield : Fleury Co. has a 32 percent tax rate. Its total interest payment for the year just ended was $33.2 million.

What is the remaining balance on your mortgage today : Could someone solve this problem by excle or a financial calculator? I rarely use formulas.

Compare and contrast intrinsic and instrumental values : Compare and contrast intrinsic and instrumental values. Provide at least two examples how each is crucial to good ethical reasoning. Recommend ways to use intrinsic and extrinsic values to improve decision making.

Which is the best estimate nominal interest rate on new bond : I calculated the YTM=10.2% and YTC=8.86%, but which is the best estimate nominal interest rate on new bonds? I need word explanation.

Leaders pay careful attention to each stage : To successfully implement change, leaders pay careful attention to each stage in the eight-stage model for change.

What will happen to the vtc if size down the nmos : Assume that you have a CMOS inverter with a perfectly symmetric voltage transfer curve (VTC). What will happen to the VTC if you size down the NMOS transistor

User Account

All Pages