Homework Answers
SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE
![01:53 @ vo a 1x ENG 17-03-202021 ... o X x fix A470 ДА 453 В 454 100000 3.75% 25 300 0.312500% 514.13 (=PMT(C461,C460,-C457)]](http://img.homeworklib.com/questions/0a41c570-7a81-11ea-8bcd-3d389216020b.png?x-oss-process=image/resize,w_560)
Add Answer to:
Cof It Up LLC borrowed $100,000 at 3.75% APR for 25 years to purchase a building...
Q1 Mr. Smith borrowed $189,500 at 3.75% per year compounded monthly. Loan is for 20 years....
Q1 Mr. Smith borrowed $189,500 at 3.75% per year compounded monthly. Loan is for 20 years. Compute the monthly payment. Q2 For the same loan in Q1, compute how many months it will take to pay the loan off, if Mr. Smith pays $100 extra to the monthly amount you computed earlier Q3. For the same loan and payment you computed in Q1, compute the amount Mr. Smith owes to the bank immediately after the 89th monthly payment. Q4. Follow...
Problem 4 Today is July 1, 2000. You've just borrowed $100,000 to purchase a house. The...
Problem 4 Today is July 1, 2000. You've just borrowed $100,000 to purchase a house. The terms of the loan are 6% APR with monthly compounding. It's a standard 30 year loan, with 360 payments, which occur at the end of each month. Part (A) owe? Immediately after you make your 57th payment, how much money do you still Part (B) Immediately after you make your 359th payment, how much do you stll owe? Part (C) What proportion of the...
(25 Points) 2. You have decided to purchase a new car and trade-in your old car....
(25 Points) 2. You have decided to purchase a new car and trade-in your old car. The car dealer has offered you a trade-in value of $25,000 on your old car. The car dealer will finance the remaining cost of the new car; however, you have decided that the maximum monthly car payment that you can afford is $500.00. Your loan rate will be 6 percent APR and you will be financing for 5 years (60 monthly payments). What is...
A few years back, Dave and Jana bought a new home. They borrowed $230,415 at an...
A few years back, Dave and Jana bought a new home. They borrowed $230,415 at an annual fixed rate of 5.49% (15-year term) with monthly payments of $1,881.46. They just made their twenty-fifth payment and the current balance on the loan is $208,555.87. Interest rates are at an all-time low, and Dave and Jana are thinking of refinancing to a new 15-year fixed loan. Their bank has made the following offer: 15-year term, 3.0%, plus out-of-pocket costs of $2,937. The...
Calculate a 30 year amortization schedule in excel for the purchase of an office building. Here are the details: The bui...
Calculate a 30 year amortization schedule in excel for the purchase of an office building. Here are the details: The building costs $250,000. You are able to obtain a mortgage loan for 90% of the value. You must come up with cash for the remaining 10% The mortgage loan is a fixed rate loan at 6% interest per year using simple interest with a 30/360 formula. Problem 1 - Calculate the monthly payment of the loan. Problem 2 - Prepare...
You are planning to purchase a new house or condominium to use as your primary residence....
You are planning to purchase a new house or condominium to use as your primary residence. This assignment will analyze some of the financial aspects of doing so. The final purchase price is $420,000 and, if you need a mortgage from the bank, your down payment will have to be 20% of the purchase price. The mortgage is a 30-year fixed rate loan with an Annual Percentage Rate (APR) of 6.00%. You will incur a one-time closing cost of $6,500...
Please, I need someone to help me to solve this problem! Your success in business thus...
Please, I need someone to help me to solve this problem! Your success in business thus far has put you in a position to purchase a home for $500,000 located close to the university you attend. You plan to pay a 20% down payment of $100,000 and borrow the remaining $400,000. You need to decide on a mortgage, and realize you can apply the skills you have acquired in the last several chapters to evaluate your choices. To find the...
You will compare 2 different amortization schedules when buying a car. The purchase price is $17,500....
You will compare 2 different amortization schedules
when buying a car. The purchase price is $17,500.
Bank A requires a 20% down payment and has an annual interest rate
of 3.6%. Bank B wants only 10%
down payment but the annual interest rate is 4.8%. In both banks,
the loan will be paid off in 3 years.
Formulas: A.First you need to set up the formula to find the
monthly payment. Use the PMT function under
FINANCIAL FORMULAS.
B. After...
Apr. 8 Issued a $8,800, 75-day, 8% note payable in payment of an account with Bennett Company May 15 Borrowed $...
Apr. 8 Issued a $8,800, 75-day, 8% note payable in payment of an account with Bennett Company May 15 Borrowed $40,000, 60-day, 9% note from Lincoln Bank. Jun. 22 Paid Bennett Company the principal and interest due on the April 8 note payable. Jul. 6 Purchased $16,000 of merchandise from Bolton Company, signed an Jul 14 Paid the May 15 note due Lincoln Bank Oct. 2 Borrowed $28,000, 120-day, 12% note from Lincoln Bank. Oct. 4 Defaulted on the note...
may I please have help with number 21 and 22 20. You borrow S 100,000 mortgage...
may I please have help with number 21 and 22
20. You borrow S 100,000 mortgage with monthly payments. You can either choose 15-year term with interest rate 7%, or choose 30-year term with interest nte 8% 1f both loans are held to maturity, what is the difference of total interest payment between these two mortgages? a. $84,854 b. $102.366 $125.786 d. None of the above 21 You borrow si 10,000 at 6% for 30 years with monthly payments. You...
Q1 Mr. Smith borrowed $189,500 at 3.75% per year compounded monthly. Loan is for 20 years. Compute the monthly payment. Q2 For the same loan in Q1, compute how many months it will take to pay the loan off, if Mr. Smith pays $100 extra to the monthly amount you computed earlier Q3. For the same loan and payment you computed in Q1, compute the amount Mr. Smith owes to the bank immediately after the 89th monthly payment. Q4. Follow...
Problem 4 Today is July 1, 2000. You've just borrowed $100,000 to purchase a house. The terms of the loan are 6% APR with monthly compounding. It's a standard 30 year loan, with 360 payments, which occur at the end of each month. Part (A) owe? Immediately after you make your 57th payment, how much money do you still Part (B) Immediately after you make your 359th payment, how much do you stll owe? Part (C) What proportion of the...
(25 Points) 2. You have decided to purchase a new car and trade-in your old car. The car dealer has offered you a trade-in value of $25,000 on your old car. The car dealer will finance the remaining cost of the new car; however, you have decided that the maximum monthly car payment that you can afford is $500.00. Your loan rate will be 6 percent APR and you will be financing for 5 years (60 monthly payments). What is...
You are planning to purchase a new house or condominium to use as your primary residence. This assignment will analyze some of the financial aspects of doing so. The final purchase price is $420,000 and, if you need a mortgage from the bank, your down payment will have to be 20% of the purchase price. The mortgage is a 30-year fixed rate loan with an Annual Percentage Rate (APR) of 6.00%. You will incur a one-time closing cost of $6,500...
You will compare 2 different amortization schedules
when buying a car. The purchase price is $17,500.
Bank A requires a 20% down payment and has an annual interest rate
of 3.6%. Bank B wants only 10%
down payment but the annual interest rate is 4.8%. In both banks,
the loan will be paid off in 3 years.
Formulas: A.First you need to set up the formula to find the
monthly payment. Use the PMT function under
FINANCIAL FORMULAS.
B. After...
Apr. 8 Issued a $8,800, 75-day, 8% note payable in payment of an account with Bennett Company May 15 Borrowed $40,000, 60-day, 9% note from Lincoln Bank. Jun. 22 Paid Bennett Company the principal and interest due on the April 8 note payable. Jul. 6 Purchased $16,000 of merchandise from Bolton Company, signed an Jul 14 Paid the May 15 note due Lincoln Bank Oct. 2 Borrowed $28,000, 120-day, 12% note from Lincoln Bank. Oct. 4 Defaulted on the note...
may I please have help with number 21 and 22
20. You borrow S 100,000 mortgage with monthly payments. You can either choose 15-year term with interest rate 7%, or choose 30-year term with interest nte 8% 1f both loans are held to maturity, what is the difference of total interest payment between these two mortgages? a. $84,854 b. $102.366 $125.786 d. None of the above 21 You borrow si 10,000 at 6% for 30 years with monthly payments. You...
Most questions answered within 3 hours.
-
Consider testing the
hypotheses:
H0: p = 0.56
H1: p > 0.56
where p is
the...
asked 1 minute ago -
In a two-factor analysis of variance a main effect is defined as
____.
a. the unique...
asked 8 minutes ago -
A bank's loan officer rates applicants for credit. The ratings
are normally distributed with a mean...
asked 9 minutes ago -
Fill in the following information for Adipic Acid: molecular
weight, g or ml, mole, melting point,...
asked 14 minutes ago -
how
to use a for loop to iterate over the string below and print each
character...
asked 16 minutes ago -
Please type answer, Thanks.
Respond to the following in a minimum of 175
words:
Research industry...
asked 16 minutes ago -
Assume that all interest rates in the economy increase from 9
percent to 10 percent. Which...
asked 25 minutes ago -
Describe the function of a Change Control Board.
When calculating Planned Value (PV), what is the...
asked 31 minutes ago -
The customer help center in your company receives calls from
customers who need help with some...
asked 42 minutes ago -
A manufacturer wished to compare the wearing qualities of two
different types of automobile tires, A...
asked 41 minutes ago -
Write a MATLAB script file that will sum all the positive
entries in V and stop...
asked 49 minutes ago -
The objective of this assignment is to demonstrate an
understanding of key course concepts and reflect...
asked 51 minutes ago