Please show me your work so I know how to solve the problem: A homeowner can...
Please show me your work so I know how to solve the problem:
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero points or at a rate of 5.4 percent with 2.35 points. How long must the owner stay in the house to make it worthwhile to pay the points if the payment saving is invested monthly?
Homework Answers
SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP
PLEASE
Add Answer to:
Please show me your work so I know how to solve the problem:
A homeowner can...
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with...
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero points or at a rate of 5.5 percent with 2.25 points. How long must the owner stay in the house to make it worthwhile to pay the points if the payment saving is not invested?
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with...
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero points or at a rate of 5.5 percent with 2.25 points. How long must the owner stay in the house to make it worthwhile to pay the points if the payment saving is invested monthly? Question 8 options: A) 6.04 years B) 7.15 years C) 3.33 years D) 5.90 years E) more than 30 years
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 3.0 percent with...
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 3.0 percent with zero points or at a rate of 2.85 percent with 1 point. What is the net present value of paying the points? Select one: O a. $4,526 O b. $3,792 O c. $2,500 O d. $0 O e. $2,362 The quoted ask yield on a 12 year $1000 par T-Bond with a 5% coupon and a price quote of 106-10 is (use semiannual compounding)...
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...
can someone please show me how this is done?? L010-4 EXERCISE 10.6 Use of an Amortization...
can someone please show me how this is done??
L010-4 EXERCISE 10.6 Use of an Amortization Table Glen Pool Club, Inc., has a $150,000 mortgage liability. The mortgage is payable in monthly installments of $1,543, which include interest computed at an annual rate of 12 percent (1 percent monthly). a. Prepare a partial amortization table showing (1) the original balance of this loan, and (2) the allocation of the first two monthly payments between interest expense and the reduction in...
I'm struggling with formulas on mortgages so please show the work, thank you You've decided to...
I'm struggling with formulas on mortgages so please
show the work, thank you
You've decided to buy a house that is valued at $1 million. You have $250,000 to use as a down payment on the house, and want to take out a mortgage for the remainder of the purchase price. Your bank has approved your $750,000 mortgage, and is offering a standard 30-year mortgage at a 12% fied nominal interest rate (caled the loan's annual percentage rate or APR)....
I also need to know total interest paid and monthly payment. Please help. You plan to...
I also need to know total interest paid and monthly payment.
Please help.
You plan to purchase a $250,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.00 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Construct the amortization schedule for the mortgage. How much total interest is paid on this mortgage? Answer is not complete. Complete...
Can I please get a how to for questions 29 and 30, using a BA11 Plus...
Can I please get a how to for questions 29 and 30, using a
BA11 Plus calculator.
c. An investrnent that has a l 0.2% nom d. A e. An investinent that las a 96% nominal rule and monthly compounding inal rate and annnal compounding n investment that has a 10%% nominal rate and semiannual compounding. You are buying a factory for $250,000 by paying 20% as a down payment, while the rest of the balance will be paid off...
Can someone Please help me solve this Some friends tell you that they paid $14,859 down...
Can someone Please help me solve this
Some friends tell you that they paid $14,859 down on a new house and are to pay $799 per month for 15 years. If interest is 5.4% compounded monthly, what was the selling price of the house? How much interest will they pay in 15 years? Selling price of the house: S(Round to two decimal places as needed.) Total interest paid: $ (Round to two decimal places as needed.)
(I understand how to get all the inputs and solve for the PMT, i just can't...
(I understand how to get all the inputs and solve for the PMT, i just can't seem to figure out where to plug the p1 or p2 numbers into my ti-84 calculator to get that $188,264.78. Is there an easier way to figure this number out? or if you know how to plug it in to a ti-84 like calculator that would help a ton. Thanks!) Question: A home buyer bought a house for $245,000. The buyer paid 20 percent...
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 3.0 percent with zero points or at a rate of 2.85 percent with 1 point. What is the net present value of paying the points? Select one: O a. $4,526 O b. $3,792 O c. $2,500 O d. $0 O e. $2,362 The quoted ask yield on a 12 year $1000 par T-Bond with a 5% coupon and a price quote of 106-10 is (use semiannual compounding)...
can someone please show me how this is done??
L010-4 EXERCISE 10.6 Use of an Amortization Table Glen Pool Club, Inc., has a $150,000 mortgage liability. The mortgage is payable in monthly installments of $1,543, which include interest computed at an annual rate of 12 percent (1 percent monthly). a. Prepare a partial amortization table showing (1) the original balance of this loan, and (2) the allocation of the first two monthly payments between interest expense and the reduction in...
I'm struggling with formulas on mortgages so please
show the work, thank you
You've decided to buy a house that is valued at $1 million. You have $250,000 to use as a down payment on the house, and want to take out a mortgage for the remainder of the purchase price. Your bank has approved your $750,000 mortgage, and is offering a standard 30-year mortgage at a 12% fied nominal interest rate (caled the loan's annual percentage rate or APR)....
I also need to know total interest paid and monthly payment.
Please help.
You plan to purchase a $250,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.00 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Construct the amortization schedule for the mortgage. How much total interest is paid on this mortgage? Answer is not complete. Complete...
Can I please get a how to for questions 29 and 30, using a
BA11 Plus calculator.
c. An investrnent that has a l 0.2% nom d. A e. An investinent that las a 96% nominal rule and monthly compounding inal rate and annnal compounding n investment that has a 10%% nominal rate and semiannual compounding. You are buying a factory for $250,000 by paying 20% as a down payment, while the rest of the balance will be paid off...
Can someone Please help me solve this
Some friends tell you that they paid $14,859 down on a new house and are to pay $799 per month for 15 years. If interest is 5.4% compounded monthly, what was the selling price of the house? How much interest will they pay in 15 years? Selling price of the house: S(Round to two decimal places as needed.) Total interest paid: $ (Round to two decimal places as needed.)
Most questions answered within 3 hours.
-
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 1 hour ago -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 1 hour ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 3 hours ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 4 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 4 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 4 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 5 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 5 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 5 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 5 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 5 hours ago -
Why are polymers not typically casted into products?
asked 5 hours ago