What would franklins monthly mortgage payment be

Assignment Help Finance Basics
Reference no: EM13269651

Franklin is buying his first house he is putting a $20000 down payment on the house but has to take out a mortgage for the remaining $170,000 of the purchase price. Franklins bank has offered him a standard 30 year old mortgage with a 5.7% nominal interest rate. what would Franklins monthly mortgage payment be?

A)944.02
B)923.01
C)986.68
D)1,008.33
E)997.48

 

Reference no: EM13269651

Questions Cloud

Find the after-tax rates of return on all three securities : Shrieves's corporate tax rate is 40%, and 70% of the dividends received are tax exempt. Find the after-tax rates of return on all three securities. Round your answers to two decimal places.
Find what is the energy per bit for the bpsk pulse : Consider a BPSK signal where each bit is represented by a triangular pulse with width T and height A. What is the "energy per bit" for this BPSK pulse with A=7V and T=0.008s
What is the amount of the endowment required : What is the amount of the endowment required to establish the center and supply the funds to maintain this center forever?
What is the change in the wires resistance : A copper wire has a 25-m ohm resistance at 20 degrees C. When the wire is carrying a current, What is the change in the wire's resistance
What would franklins monthly mortgage payment be : Franklins bank has offered him a standard 30 year old mortgage with a 5.7% nominal interest rate. what would Franklins monthly mortgage payment be?
Determine the average force on the ball : A 4.0 kg ball is traveling at 3.0 m/s and strkes a wall. The 4.0 kg ball bounces off the wall with a velocity of 4.0 m/s. determine the average force on the ball
What is the amount of the net new borrowing : The financial statements for the current year reflect an interest paid amount of $18,700 and dividends of $22,000. What is the amount of the net new borrowing?
Linear programming model to be formulated and used : What are the assumptions for a linear programming model to be formulated and used?
Why would it be challenging to properly compare performance : Why would it be challenging to properly compare the performance of an equity fund to a fixed-income market?

Reviews

Write a Review

Finance Basics Questions & Answers

  Define the cash conversion cycle

Why is working capital management important to a company? Are there particular industries where managing working capital is more important?

  What is the current market value of one of these bonds

Maryland Department of Transportation has issued 25-year bonds that make semiannual coupon payments at a rate of 9.93 percent. The current market rate for similar securities is 10.79 percent.

  What is the irr on a perpetuity that originally cost

What is the IRR on a perpetuity that originally cost $1094.41 has an annual payment of $141.09? Carry your answer to two decimal places. For example enter 15.25 for 15.25%

  Determine the amount of interest expense

S. Strigel Chemical Corporation issued $5,000,000 face value, 10%, 10-year bonds at $5,679,533. This price resulted in an 8 percent effective-interest rate on the bonds.

  What was the delta ray brands net income after-tax

Assuming a federal income tax rate of 34%, what was the Delta Ray Brands net income after-tax?

  What is the payback period

The company anticipates cash flows of $430,386, $512,178, $562,255, $764,997, $816,500, and $825,375 over the next six years. What is the payback period?

  What is the projects discounted payback period

A project has an initial cost of $51,725, expected net cash inflows of $13,000 per year for 8 years, and a cost of capital of 13%. What is the project's payback period? Round your answer to two decimal places.

  What is the bond coupon rate

A 25-year Treasury bond is issued with face value of $1,000, paying interest of $62 per year. If market yields increase shortly after the T-bond is issued, what is the bond's coupon rate?

  How much would semiannual payments be

if a 2% charge is added to the annual premium of $1213.00 when payments are made semiannually, how much would semiannual payments be?

  Three theories of dividends

You determine the capital structure of your company; therefore you should compare the two theories of capital structure and determine what mix of capital structure your company.

  Compute the most economically rational value

Suppose IBM is expected to pay a total cash dividend of $3.60 next year and dividends are expected to increase indefinitely by 3% a year. Suppose the required rate of return is 9 percent.

  The coupon rate for a particular quality of bond

When the market interest rate rises above the coupon rate for a particular quality of bond and the bond price declines, the new expected yield is called

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