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Suppose you take out a 30-year mortgage for $241119 at an annual interest rate of 6.1%....
Ten years ago you obtained a 30-year mortgage for $400,000 with a fixed interest rate of 3% APR compounded monthly. The mortgage is a standard fixed rate mortgage with equal monthly payments over the life of the loan. What are the monthly fixed mortgage payments on this mortgage (i.e., the minimum required monthly payments to pay down the mortgage in 30 years)? What is the remaining loan balance immediately after making the 120th monthly payment (i.e., 10 years after initially...
You want to take out a $243,000 mortgage (home loan). The interest rate on the loan is 5.6%, and the loan is for 30 years. Your monthly payments are $1,395.01. How much will still be owed after making payments for 5 years? Round your answer to the nearest dollar.
Suppose you take a 30-year mortgage of $300000. the annual interest rate is 4%, and the annual ... Question: Suppose you take a 30-year mortgage of $300000. The annual interest rate is 4%, and the annual AP... (2 bookmarks) Suppose you take a 30-year mortgage of $300000. The annual interest rate is 4%, and the annual APR is 5.00%. Loan payments are made annually. Calculate the amortized fees and expenses for this loan (in dollars, provide your answer with $1...
Suppose you take out a 30-year mortgage for a house that costs $292710. Assume the following: The annual interest rate on the mortgage is 3.2%. . The bank requires a minimum down payment of 10% at the time of the loan The annual property tax is 2.2% of the cost of the house. The annual homeowner's insurance is 1.1% of the cost of the house. There is no PMI · If you make the minimum down payment, what will your...
Suppose you take out a 30 year mortgage for $100000 with annual payments. The interest rate on the mortgage is 8%. when you have paid off half the mortgage, so that the value if the remaining payments is reduced to $50,000, how many more payments need to be made? a- approx 12 b- approx 8 c- approx 20 d- approx 15
You want to buy a house and take out a mortgage for $250,000. The only mortgage that you can afford is a 30 year ARM that has a fixed rate of 3% annual compounded monthly for the first 3 years and then can adjust every year after that. Against the advice of a wise EMIS professor that you once had, you decided to take the mortgage. a) What is the monthly payment for his home mortgage for the first 3...
Suppose you take out a 20-year mortgage for a house that costs $368851. Assume the following: · The annual interest rate on the mortgage is 4%. . The bank requires a minimum down payment of 14% at the time of the loan. The annual property tax is 2.2% of the cost of the house. The annual homeowner's insurance is 0.6% of the cost of the house. . · The monthly PMI is $78 Your other long-term debts require payments of...
Suppose you take out a 20-year mortgage for a house that costs $472858. Assume the following: The annual interest rate on the mortgage is 4%. The bank requires a minimum down payment of 20% at the time of the loan. The annual property tax is 2.1% of the cost of the house. The annual homeowner's insurance is 1.5% of the cost of the house. The monthly PMI is $70 Your other long-term debts require payments of $899 per month. If...
Maria takes out a 30-year mortgage for $181184 at an annual interest rate of 3.8%. How much does she still owe when there is 1 year left on the loan? Round your answer to the nearest dollar.
Suppose you are two years into a 30-year mortgage at 4.125%. Your minimal monthly payment is $710.79 and your remaining balance on the loan is $141,500. You've been offered a deal to refinance to a 15 year mortgage at 3.125% with no closing costs. To determine if you should refinance, answer the following. (A) What is the monthly payment on a 15 year mortgage for $141,500 at 3.125% interest? (B) If you were to make the minimum monthly payments on...