In the question itself, we see that the annual mortgage constant is given as=0.0888
Suppose your lender agrees to an 80% LTV, the cost to borrow $1 at 8% for...
May I please have help with 21 c. d. $125,786 None of the above You borrow $100,000 at 6% for 30 years with monthly payments . You pay 2 discount points and your APR is 65% is the amount of your other financing fees besides the discount points a. $1,144.7 b. $2,144.7 c. $3,144.7 d. None of the above 22 You borrow $100,000 your total payment for year 11? a. 5,000 c. 8,000 Constant Amortization Mortgage (CAM) at 10% for...
1. Suppose that you are considering a conventional, fixed-rate 30-year mortgage loan for $100,000. The lender quotes an APR of 5.79%, compounded monthly; mortgage payments would be monthly, beginning one month after the closing on your home purchase. What would be your monthly mortgage payment? Do not round at intermediate steps in your calculation. Round your answer to the nearest penny. Do not type the $ symbol. 2. Suppose that you are just about to retire, and you just turned...
Solve each problem and show your work clearly 1. You plan to borrow $100,000 at 10%, compounded annually with payments at the end of each year. The length of the loan is 10 years. How big should your annual payments be? 2.A friend has asked for your help in determining whether she should invest in a property. She tells you that the property will have annual cash flows of $1,000 during the first two years and will increase by $200...
Total Loan amount: The total mortgage loan amount is the amount you borrow after paying your down payment. Here, we assumed that you would pay 20% of the home value (property value) as a down payment. 2. Months: The mortgage payment period is set to 30 years. In terms of months, this is equivalent to 30 years multiplied by 12 months. We put our primary basis of payments in terms of months, which is why we need to convert everything...