Homework Answers
Add Answer to:
What is the monthly payment size of a 21-year mortgage for $169 600 and an interest...
4. A $180 000.00 mortgage is to be amortized by making monthly payments for 22.5 years....
4. A $180 000.00 mortgage is to be amortized by making monthly payments for 22.5 years. Interest is 7.2% compounded semi-annually for a four-year term. a) Compute the size of the monthly payment. b) Determine the balance at the end of the four-year term. c) If the mortgage is renewed for a five-year term at 8.66% compounded semi- annually, what is the size of the monthly payment for the renewal term?
A $120,000 mortgage is amortized over 25 years. If interest on the mortgage is 5.5 percent...
A $120,000 mortgage is amortized over 25 years. If interest on the mortgage is 5.5 percent compounded semi-annually, calculate the size of monthly payments made at the end of each month. O A. $732.47 O B. $637.47 OC. $723.47 OD. $673.47
A $92,000 mortgage has an interest rate of 9% compounded semi-annually for a 5 year term....
A $92,000 mortgage has an interest rate of 9% compounded semi-annually for a 5 year term. The mortgage is amortized over 20 years. What is the monthly payment?
A $198,000 mortgage amortized by monthly payments over 20 years is renewable after five years. Interest...
A $198,000 mortgage amortized by monthly payments over 20 years is renewable after five years. Interest is 4.65% compounded semi-annually. Complete parts (a) though (e) below. (a) What is the size of the monthly payments? The size of a monthly payment is $ (Round to the nearest cent as needed.) (b) How much interest is paid during the first year? The interest paid in the first year is $ (Round to the nearest cent as needed.) (c) ow much of...
How much principal is repaid in the first payment interval on a $100,000 25-year mortgage? The...
How much principal is repaid in the first payment interval on a $100,000 25-year mortgage? The mortgage is amortized over 25 years and the payments are monthly. The interest rate is 6% compounded semi-annually.
Questions A $ 120,000 mortgage is amontized over monthly 25 years. If interest on the mortgage...
Questions A $ 120,000 mortgage is amontized over monthly 25 years. If interest on the mortgage is 8.5% compounded 20 2572 semi-annually, calculate the size of monthly payments 311.000 made at the end of each month.
Name: SID: nment 5 Barbara borrowed $12 000.00 from the bank at 9% compounded monthly. The...
Name: SID: nment 5 Barbara borrowed $12 000.00 from the bank at 9% compounded monthly. The loan is amortized with end-of-month payments over five years. a) Calculate the interest included in the 20th payment. b) Calculate the principal repaid in the 36th payment. c) Construct a partial amortization schedule showing the details of the first two payments, the 20th payment, the 36th payment, and the last two payments. d) Calculate the totals of amount paid, interest paid, and the principal...
A $92,000 mortgage is to be repaid over a ten-year period by monthly payments rounded up...
A $92,000 mortgage is to be repaid over a ten-year period by monthly payments rounded up to the next-higher $100. Interest is 4.6% compounded semi-annually. (a) Determine the number of rounded payments required to repay the mortgage. (b) Determine the size of the last payment. (c) Calculate the amount of interest saved by rounding the payment up to the next higher $100 versus rounding the payment to the nearest cent.
Please help thank you. A $87,000 mortgage is to be amortized by making monthly payments for...
Please help thank you.
A $87,000 mortgage is to be amortized by making monthly payments for 15 years. Interest is 8.1% compounded semi-annually for a seven-year term. (a) Compute the size of the monthly payment. (b) Determine the balance at the end of the seven-year term. (c) If the mortgage is renewed for a seven-year term at 7% compounded semi-annually, what is the size of the monthly payment for the renewal term? (a) The size of the monthly payment is...
Consider a 30-year mortgage with an interest rate of 10% compounded monthly and a monthly payment...
Consider a 30-year mortgage with an interest rate of 10% compounded monthly and a monthly payment of $850. (1) Calculate the principal. (2) How much of the principal is paid the first, 5th, 20th and last year? (3) How much interest is paid the first, 5th, 20th and last year year? (4) What is the total amount of money paid during the 30 years? (5) What is the total amount of interest paid during the 30 years? (6) What is...
4. A $180 000.00 mortgage is to be amortized by making monthly payments for 22.5 years. Interest is 7.2% compounded semi-annually for a four-year term. a) Compute the size of the monthly payment. b) Determine the balance at the end of the four-year term. c) If the mortgage is renewed for a five-year term at 8.66% compounded semi- annually, what is the size of the monthly payment for the renewal term?
A $120,000 mortgage is amortized over 25 years. If interest on the mortgage is 5.5 percent compounded semi-annually, calculate the size of monthly payments made at the end of each month. O A. $732.47 O B. $637.47 OC. $723.47 OD. $673.47
A $198,000 mortgage amortized by monthly payments over 20 years is renewable after five years. Interest is 4.65% compounded semi-annually. Complete parts (a) though (e) below. (a) What is the size of the monthly payments? The size of a monthly payment is $ (Round to the nearest cent as needed.) (b) How much interest is paid during the first year? The interest paid in the first year is $ (Round to the nearest cent as needed.) (c) ow much of...
Questions A $ 120,000 mortgage is amontized over monthly 25 years. If interest on the mortgage is 8.5% compounded 20 2572 semi-annually, calculate the size of monthly payments 311.000 made at the end of each month.
Name: SID: nment 5 Barbara borrowed $12 000.00 from the bank at 9% compounded monthly. The loan is amortized with end-of-month payments over five years. a) Calculate the interest included in the 20th payment. b) Calculate the principal repaid in the 36th payment. c) Construct a partial amortization schedule showing the details of the first two payments, the 20th payment, the 36th payment, and the last two payments. d) Calculate the totals of amount paid, interest paid, and the principal...
Please help thank you.
A $87,000 mortgage is to be amortized by making monthly payments for 15 years. Interest is 8.1% compounded semi-annually for a seven-year term. (a) Compute the size of the monthly payment. (b) Determine the balance at the end of the seven-year term. (c) If the mortgage is renewed for a seven-year term at 7% compounded semi-annually, what is the size of the monthly payment for the renewal term? (a) The size of the monthly payment is...
Most questions answered within 3 hours.
-
question
you were
asked to create a regression that will predict the amount of saving
for...
asked 2 minutes ago -
If tcalc = -2.78, tcrit = 1.96, H0: Mu > Mu0, and Xbar <
Mu0, what...
asked 24 minutes ago -
Circular distribution
•Suppose two birds are flying, one is flying from the north and
the other...
asked 23 minutes ago -
please answer all... it all counts as a discussion problem
1a qualitative data and proportions: Suppose...
asked 28 minutes ago -
Typing The Answer Is Mandatory
Temperature is a measure of heat. More heat means that more...
asked 18 minutes ago -
An ideal gas ( 2.00 mol) is the working substance in an engine
that operates on...
asked 15 minutes ago -
Assume you are working with a standard deck of 52 cards. There
are 13 cards (2,...
asked 21 minutes ago -
A cell phone company offers two plans to its subscribers. At the
time new subscribers sign...
asked 21 minutes ago -
Write a program that reads a floating point number and prints
“zero” if the number is...
asked 26 minutes ago -
Geoff has been running a restaurant in the city for many years.
He knows from experience...
asked 35 minutes ago -
NaOH is added to a buffer solution composed of C6H5COOH and
C6H5COO―. Which of the following...
asked 27 minutes ago -
Program: Write a complete C++ program that is
made of functions main() and rShift(). The rShift()...
asked 35 minutes ago