ZuoTi.Pro
Question

Suppose you want a $100000 mortgage to buy a house. If your mortgage annual rate is 3.548% and youre financing your payments
math   Advanced-Math   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

# Criven, Principal valusp= $ louoou Rate of Interest & = 3.548 % r= 0.03548 t = 30 years. n=12 (monthly monthly Payment PV.

0 0
Add a comment
Know the answer?
Add Answer to:
Suppose you want a $100000 mortgage to buy a house. If your mortgage annual rate is...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 17. You borrow $196,000 to buy a house. The annual mortgage rate is 5% and the...

    17. You borrow $196,000 to buy a house. The annual mortgage rate is 5% and the loan period is 25 years. Payments are made monthly. If you pay the mortgage according to the loan agreement, how much payment will you pay each month?

  • You want to buy a house and take out a mortgage for $250,000. The only mortgage...

    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...

  • 10 Years ago you took out a 30-year mortgage to buy a house. Your annual payment...

    10 Years ago you took out a 30-year mortgage to buy a house. Your annual payment is $18,162 and your current interest rate is 6%. Suppose you now want to refinance and still pay off the house in 20 years, how much principal do you still owe on the mortgage? I keep getting the wrong answer using my BA II Plus Calculator. The correct Answer is $208,316.71

  • You want to buy a house that costs $200,000 and have saved up enough for the...

    You want to buy a house that costs $200,000 and have saved up enough for the 10% down payment. You will be borrowing the rest from the bank at an annual rate of 9% compounded s.a. through a 25 year mortgage. How much will your monthly payments be? How much of the first monthly payment will go towards principal? What will be the total cost of your house? How much remains owing at the end of the 3 years, and...

  • QUESTION 5 Suppose you want to buy a house that costs $750,000. You are required to...

    QUESTION 5 Suppose you want to buy a house that costs $750,000. You are required to put 10% down, which means the amount to be borrowed is 90% of the price of the house. If you want a 30 year mortgage, and the borrowing rate is 5.6% APR compounded monthly, what would be your monthly payment? (Answer to the nearest penny) 5 points    QUESTION 6 Suppose you want to buy a car that costs $17,000. If the dealer is...

  • You want to buy a house that costs $200,000 and have saved up enough for the 10% down payment.  You will be bo...

    You want to buy a house that costs $200,000 and have saved up enough for the 10% down payment.  You will be borrowing the rest from the bank at an annual rate of 9% compounded s.a. through a 25 year mortgage. How much will your monthly payments be? How much of the first monthly payment will go towards principal? What will be the total cost of your house? How much remains owing at the end of the 3 years, and what...

  • You want to buy a house that costs $200,000 and have saved up enough for the 10% down payment. You will be borrowing the...

    You want to buy a house that costs $200,000 and have saved up enough for the 10% down payment. You will be borrowing the rest from the bank at an annual rate of 9% compounded s.a. through a 25 year mortgage. How much will your monthly payments be? How much of the first monthly payment will go towards principal? What will be the total cost of your house? How much remains owing at the end of the 3 years, and...

  • a. You want to buy a $170,000 house. The loan requires 10% down, has a 7.75%...

    a. You want to buy a $170,000 house. The loan requires 10% down, has a 7.75% fixed APR, and a term of 30 years. You will make monthly mortgage payments. How much will your monthly payments be? b. You want to buy a $170,000 house. The loan requires 10% down, has a 7.75% fixed APR, and a term of 30 years. You will make monthly mortgage payments. What is the total interest you will pay over the life of the...

  • Suppose you want to buy a house that costs $790,000. You are required to put 10%...

    Suppose you want to buy a house that costs $790,000. You are required to put 10% down, which means the amount to be borrowed is 90% of the price of the house. If you want a 30 year mortgage, and the borrowing rate is 6.6% APR compounded monthly, what would be your monthly payment? (Answer to the nearest penny)

  • Suppose you want to buy a house that costs $150,000. You are required to put 10%...

    Suppose you want to buy a house that costs $150,000. You are required to put 10% down, which means the amount to be borrowed is 90% of the price of the house. If you want a 30 year mortgage, and the borrowing rate is 4.39 APR compounded monthly, what would be your monthly payment? (Answer to the nearest penny)

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT