After 8 years, (8*12) 96 months have passed, the balance of principal after 96th payment is:
What is the balance on a $99000 loan monthly payment 30-year loan at 55% after paying...
27. Facts: $100,000 loan, 30 years, fixed rate of 8%, monthly payment of $733.76. What is the loan balance after the first month? A. $100,000 B. $99,933 C. $99,267 D. $92,000 E. $67 Please show work, THanks!
A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find thea) Monthly payment,b) The total principal and interest that would be paid on the loan over 30 years c) The balance in 5 years andd) The principal and interest paid over the first 5 years.
Compute the new balance of a loan after one monthly payment. Assume that the balance at the beginning of the period was $69,535. The monthly payment is $1000. The annual interest rate is 4%.
10. What is the payment in month 234 on a 30-year loan for $725,000 at 4.85% that requires payments of $0 for the first five years and fully amortizing payments for the remaining years of the loan? (On Excel) Loan Amount: Years: Periods Per Year: Interest Rate: Balance at EOM 60: Total Amortization Years: What is the balloon payment due at maturity for a 10-year loan for $225,000 at 5.85% if the negotiated payment amount each month is $100 less...
A thirty year monthly payment mortgage loan for 500,000 is offered at a nominal rate of 8.4% convertible monthly. Find the a) monthly payment, b) the total principal and interest that would be paid on the loan over 30 years c) the balance in 5 years and d) the principal and interest paid over the first 5 years.
What is the monthly payment on a 30-year mortgage of $150,000 at 11% interest per year, compounded monthly? (Round your answer to the nearest cent.) $ What is the total amount paid on this loan over the 30-year period? (Round your answer to the nearest cent.) $
I need to know the monthly payment, and balance
Find the monthly payment and estimate the remaining balance. Assume interest is on the unpaid balance. 4-year computer loan for $2270 at 7.4%; remaining balance after 2 years. The monthly payment is $ (Round to the nearest cent as needed.)
Consider a 30-year mortgage with an interest rate of 10% compounded monthly and a monthly payment of $850. (1) Calculate the principal. (2) How much of the principal is paid the first, 5th, 20th and last year? (3) How much interest is paid the first, 5th, 20th and last year year? (4) What is the total amount of money paid during the 30 years? (5) What is the total amount of interest paid during the 30 years? (6) What is...
1. What monthly payment is required to amortize a loan of $50,000 over 14 years if interest at the rate of 6%/year is charged on the unpaid balance and interest calculations are made at the end of each month? (Round your answer to the nearest cent.) $ 2. The Flemings secured a bank loan of $368,000 to help finance the purchase of a house. The bank charges interest at a rate of 3%/year on the unpaid balance, and interest computations...
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...