QUESTION 4 John takes out a loan of $150,000 to buy a house. He is offered...
QUESTION 11 John takes out a loan of $150,000 to buy a house. He is offered a 15-year loan by the bank, at an interest rate of 5% per year. That is, John must pay for the house with 15 equal annual installments, with an interest rate of 5%. What is the annual loan payment John must make? A. $17,160 B. $17,812 C. $14,451 D. $13,526
Q3: Mike decide to take the mortgage loan to buy a house with total price of $200,000.He made 50,000 for down payment. He decided to pay back the money every quarter in the equal amount. What should be his equal quarterly payment be over the next 20 years if the annual interest rate is 7%? Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months),...
John is planning to buy a house in three years. He thinks he needs to put down $55,000 in three years as a down payment. Currently John has $15,000. He would like to start saving in a bank that offers 8% annual interest rate. How much should John save every month into that bank account so that he can accomplish his goal?
Dan buys a property for $220,000 . He is offered a 30-year loan by the bank, at an interest rate of 7% per year. What is the annual loan payment Dan must make? a. $17,729.01 b. $21,274.81 c. $24,820,61 d. $28,366.42
Dan buys a property for $ 260000. He is offered a 30-year loan by the bank, at an interest rate of 9% per year. What is the annual loan payment Dan must make? A. $ 25307.45 B. $ 30368.94 C. $ 40491.92 D. $ 35430.43
Dan buys a property for $240,000. He is offered a 30-year loan by the bank, at an interest rate of 6% per year. What is the annual loan payment Dan must make? O A. $24,410.04 O B. $27,897.18 OC. $20,922.89 OD. $17,435.74
Toby is borrowing $500,000 to buy a house, and he will repay
this loan with 25 equal yearly payments starting one year from
today. If the effective annual interest rate is 14%, what is the
dollar amount of each yearly payment?
I don't know how to do this, please help. I don't JUST want the
answer, I want an expalanation on how to do the problem and
eventually get the answer myself.
Thank you
Toby is borrowing $500,000 to buy...
Pregunta 11 1 pts John House has taken a $150,000 mortgage on his house at an interest rate of 6% per year. If the mortgage calls for thirty equal annual payments, what is the amount of each payment? O $14,158.94 0 $10,897.34 O $16,882.43 O $17,657.35
This morning, you borrowed $150,000 to buy a house. The mortgage rate is 7 percent. The amortized loan requires you to pay $10,000 in principal plus interest each year over 15 years. The first payment is due one year from today. How much is the second payment?
Q3: Mike decides to take the mortgage loan to buy a house with total price of $200,000.He made 50,000 for down payment. He decided to pay back the money every quarter in the equal amount. What should be his equal quarterly payment be over the next 20 years if the annual interest rate is 7%?