What monthly payment should you make after you? refinance

Assignment Help Business Management
Reference no: EM132634991

The mortgage on your house is five years old. It required monthly payments of $1,402?, had an original term of 30? years, and had an interest rate of 10% ?(APR). In the intervening five? years, interest rates have fallen and so you have decided to refinance-that ?is, you will roll over the outstanding balance into a new mortgage. The new mortgage has a? 30-year term, requires monthly? payments, and has an interest rate of 6.125% ?(APR).

a. What monthly repayments will be required with the new? loan?

b. If you still want to pay off the mortgage in 25? years, what monthly payment should you make after you? refinance?

c. Suppose you are willing to continue making monthly payments of $1,402. How long will it take you to pay off the mortgage after? refinancing?

d. Suppose you are willing to continue making monthly payments of $1,402 and want to pay off the mortgage in 25 years. How much additional cash can you borrow today as part of the? refinancing?

Reference no: EM132634991

Questions Cloud

What amount of gain or loss should the company recognize : What amount of gain or loss should the company recognize and report to profit or loss as a result of the transfer
Compute the initial price of a swaption : Compute the initial price of a swaption that matures at time t = 5t=5 and has a strike of 0. The underlying swap is the same swap
Calculate the return-on-assets ratio : Perform an Internet search, From the company's balance sheet and income statement, calculate the return-on-assets ratio and the return-on-equity ratio.
How saudi moh communicated with population during covid-19 : Health communication is very important during pandemics e.g. COVID-19. Discuss how Saudi MOH communicated with the population during COVID-19 and give examples.
What monthly payment should you make after you? refinance : What monthly repayments will be required with the new? loan?
What is alpha initial investment and npv : What is Alpha's initial investment and NPV? On Monday, Eagle Manufacturing lost a portion of its planning and financial data when both its main
Applying managerial accounting in the healthcare sector : What are some of the challenges with applying managerial accounting in the healthcare sector?
Combat bad foreign currency value : What would be the most affective way to combat bad foreign currency value?
What amount of unrealized gain woulInstrument Corp report : What amount of unrealized gain or loss would Instrument Corp. report in its profit or loss for the year ended December 31, 2018 related to its investments

Reviews

Write a Review

Business Management Questions & Answers

  Caselet on michael porter’s value chain management

The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..

  Mountain man brewing company

Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.

  Analysis of the case using the doing ethics technique

Analysis of the case using the Doing Ethics Technique (DET). Analysis of the ethical issue(s) from the perspective of an ICT professional, using the ACS Code of  Conduct and properly relating clauses from the ACS Code of Conduct to the ethical issue.

  Affiliations and partnerships

Affiliations and partnerships are frequently used to reach a larger local audience? Which options stand to avail for the Hotel manager and what problems do these pose.

  Innovation-friendly regulations

What influence (if any) can organizations exercise to encourage ‘innovation-friendly' regulations?

  Effect of regional and corporate cultural issues

Present your findings as a group powerpoint with an audio file. In addition individually write up your own conclusions as to the effects of regional cultural issues on the corporate organisational culture of this multinational company as it conducts ..

  Structure of business plan

This assignment shows a structure of business plan. The task is to write a business plane about a Diet Shop.

  Identify the purposes of different types of organisations

Identify the purposes of different types of organisations.

  Entrepreneur case study for analysis

Entrepreneur Case Study for Analysis. Analyze Robin Wolaner's suitability to be an entrepreneur

  Forecasting and business analysis

This problem requires you to apply your cross-sectional analysis skills to a real cross-sectional data set with the goal of answering a specific research question.

  Educational instructional leadership

Prepare a major handout on the key principles of instructional leadership

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