Loan amount = Present value of future monthly payments = monthly payment * [1-(1+i)^-n]/i
i = interest rate per period
n = number of periods
=>
monthly payment * [1-(1+0.14/12)^-300]/(0.14/12) = 53898.75
=>
monthly payment = 648.81
Find the monthly payment amount for a 25-year mortgage loan of $53,898.75, with an interest rate...
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Question Het payme tand financed the balance with a 25-year home mortgage loan with an annual interest rate of 4 5% compounded monthly His monthly mortgage payment is $847 What was the selling price of the house? The selling price of the house is (Do not round until the final answer. Then round to two decimal places as needed ) Question Het payme tand financed the balance with a 25-year home mortgage loan with an annual interest rate of 4...
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A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find thea) Monthly payment,b) The total principal and interest that would be paid on the loan over 30 years c) The balance in 5 years andd) The principal and interest paid over the first 5 years.
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