A $180,000 mortgage is to be amortized by making monthly payments for 25 years. Interest is...
A $180,000 mortgage is to be amortized by making monthly payments for 25 years. Interest is 5.62% compounded semiannually for a 4-year term.
a. Compute the size of the monthly payments. __________
b. Determine the balance at the end of the 4-year term. _____________
c. If the mortgage is renewed for a 5-year term at 5.30% compounded semiannually, what is the size of the monthly payment for the renewal period? ____________
I have had an inaccurate answer on this question once I need the true one please.
Homework Answers
Add Answer to:
A $180,000 mortgage is to be amortized by making monthly
payments for 25 years. Interest is...
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?
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...
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a)...
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a) If interest is 5.22% compounded annually, what is the size of each monthly payment? (b) Find the total interest paid during the first year. (c) Compute the interest included in the 26th payment. (d) If the mortgage is renewed after five years at 4.10% compounded annually, what is the size of the monthly payment for the renewal period? (0) Construct a partial amortization schedule...
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...
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...
The interest rate for the first five years of an $100,000 mortgage loan is 9.4% compounded...
The interest rate for the first five years of an $100,000 mortgage loan is 9.4% compounded semiannually. Monthly payments are calculated using a 20-year amortization. a. What will be the principal balance at the end of the five-year term? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Principal balance $ b. What will be the monthly payments if the loan is renewed at 6.8% compounded semiannually (and the original amortization period is continued)?...
A $150,000 mortgage is amortized over 25 years. If interest on the mortgage is 3.5 percent...
A $150,000 mortgage is amortized over 25 years. If interest on the mortgage is 3.5 percent compounded semi-annually, calculate the size of monthly payments made at the end of each month. A. $784.91 B. $748.91 C. $734.91 D. $743.91
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 $120,000.00 mortgage is amortized over 25 years. If interest on the mortgage is 8.5% compounded...
A $120,000.00 mortgage is amortized over 25 years. If interest on the mortgage is 8.5% compounded semi-annually, calculate the size of monthly payments made at the end of each month. Select one: O a. $1,908.88 b. $477.22 c. $747.44 d. $954.44 e. $594.22
A $240 000 mortgage is amortized over 20 years. If interest on the mortgage is 3.39%...
A $240 000 mortgage is amortized over 20 years. If interest on the mortgage is 3.39% compounded semi-annually, calculate the size of monthly payments made at the end of each month. A. $1,378.38 B. $1,375.47 C. $1,700.00 D. $1,184.36
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?
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...
A $130,000 mortgage amortized by monthly payments over 20 years is renewable after five years (a) If interest is 5.22% compounded annually, what is the size of each monthly payment? (b) Find the total interest paid during the first year. (c) Compute the interest included in the 26th payment. (d) If the mortgage is renewed after five years at 4.10% compounded annually, what is the size of the monthly payment for the renewal period? (0) Construct a partial amortization schedule...
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...
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 $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 $120,000.00 mortgage is amortized over 25 years. If interest on the mortgage is 8.5% compounded semi-annually, calculate the size of monthly payments made at the end of each month. Select one: O a. $1,908.88 b. $477.22 c. $747.44 d. $954.44 e. $594.22
Most questions answered within 3 hours.
-
3) What are the typical social structures in a global city?
asked 18 minutes ago -
Luther Corporation
Consolidated Balance Sheet
December 31, 2019 and 2018 (in $ millions)
Assets
2019
2018...
asked 20 minutes ago -
(Expected rate of return and risk) Carter Inc. is evaluating a
security. Calculate the investment’s expected...
asked 3 hours ago -
What specific indicators can point to lack of progress for
African Americans in American society?
asked 4 hours ago -
1-The Electrons in a beam are moving at 2.7×108 m/s in an
electric field of 15000...
asked 4 hours ago -
A gas tank is a vertical cylinder. It has a radius of 1m, a
height of...
asked 4 hours ago -
Accent Software faces the following conditions. All of these
support Accent’s use of a market-penetration pricing...
asked 5 hours ago -
A mathematically inclined friend emails you the following
instructions: "Meet me in the cafeteria the first...
asked 5 hours ago -
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 6 hours ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 7 hours ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 7 hours ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 8 hours ago