If a fully amortizing 30-year fixed rate mortgage was originally taken at $200,000, but now has...
Ann is looking for a fully amortizing 30-year Fixed-Rate Mortgage with monthly payments for $3,200,000. Mortgage A has a 4.38% interest rate and requires Ann to pay 1.5 points upfront. Mortgage B has a 6% interest rate and requires Ann to pay zero fees upfront. Assuming Ann makes payments for 30 years, what is Ann’s annualized IRR from mortgage B?
Ann got a 15 year Fully Amortizing FRM for $1,000,000 at an annual interest rate of 7% compounded monthly, with monthly payments. After 5 years of payments, Ann can refinance the balance into a 10 year Fully Amortizing FRM at an annual interest rate of 5.25% compounded monthly, with monthly payments. If Ann refinances into this 10 year loan, what will be her monthly savings on her mortgage payment? "
6. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $1,250,000 at 4.38%. What fraction of Ann's 40th payment goes to interest? Write your answer in percent, without the % sign.
You need to borrow $200,000. E-Click loans will make a 30 year, fully amortizing mortgage loan with monthly payments, with no points at an interest rate of 8%. (a) Construct a loan amortization schedule for the first 4 months of the loan. (b) What is the principal amount of your loan outstanding after 7 years (84 months) of making payments? Show that you can determine this by finding the FV of the loan after 7 years. Highlight your final answer
3. You have just taken a 30-year mortgage loan for $200,000. The annual percentage rate on the loan is 8%, and payments will be made monthly. Estimate your monthly payments.
Today is January 1, 2020 (T=0). You take out a 30 year fully amortizing mortgage of $400,000. Payments are made at the end of each calendar month. The loan has a fixed annual rate of 4.0% (or 4.0%/12 per month). How payments will you have to make until you have at least $300,000 of equity in your home? a. 32 b. 33 c. 109 d. 110 e. 111
Ann got a 30 year Fully Amortizing FRM for $1,000,000 at an annual interest rate of 8% compounded monthly, with monthly payments. After 5 years of payments, Ann can refinance the balance into a 25 year Fully Amortizing FRM at an annual interest rate of 5% compounded monthly, with monthly payments. Refinancing will cost Ann 2 points and $1,500 in closing costs. If Ann refinances into this loan after 5 years, what will be her total cost of refinancing?"
Today is January 1st, 2019 (T=0). You take out a 6 year fully amortizing auto loan of $24,000. Payments are made at the end of each calendar month. The loan has a fixed annual rate of 4.0% (or 4.0%/12 per month). Assume you decide to make monthly payments of $503.50 instead. Approximately how many months sooner would you pay off the auto loan? 1.) 18 2.) 20 3.) 22 4.) 24 5.) 48
A bank makes a 30 year Fully Amortizing FRM for $1,000,000 at an annual interest rate of 4.13% compounded monthly, with monthly payments. What is the market value of this loan after 7 years of payments if the annual interest rate for this loan is 10% compounded monthly?"
Assume that you have a 30 year fully-amortized fixed rate mortgage for your home. Your loan amount is $300,000 with a 3% annual interest rate. After 28 years, you would like to sell the property. What is your loan balance at the end of 28 years? Assume that you have a 30 year fully-amortized fixed rate mortgage for your home. Your loan amount is $300,000 with a 3% annual interest rate and your balloon payment is $50,000. What is your...