1.) Consider a home mortgage of $150,000 at a fixed APR of 6% for 15 years....
1.) Consider a home mortgage of $150,000 at a fixed APR of 6% for 15 years.
-. Calculate the monthly payment.
-. Determine the total amount paid over the term of the loan.
- Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
a. The monthly payment is what?
(Do not round until the final answer. Then round to the nearest cent as needed.)
b. The total amount paid over the term of the loan is what?
(Round to the nearest cent as needed.)
c. Of the total amount paid, what % is paid toward the principal, and what % is paid for interest.
(Round to one decimal place as needed.)
Homework Answers
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1.) Consider a home mortgage of $150,000 at a fixed APR of 6%
for 15 years....
Consider a home mortgage of $250,000 at a fixed APR of 3% for 25 years. a....
Consider a home mortgage of $250,000 at a fixed APR of 3% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ 1,185.53 (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total amount paid over...
consider a home mortgage of 225000 at a fixed apr 4.5% for 25 years... I need...
consider a home mortgage of 225000 at a fixed apr 4.5% for 25
years... I need all
ai2 Me·4.D-S Calculate loan payments, tota This Question: 1 pt 1 of Consider a home mortgage of $225,000 at a fixed APR of 4 5% for 25 years. a. Calculate the monthly payment b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid...
Consider a home mortgage of $150,000 at a fixed APR of 6% for 30 years. a....
Consider a home mortgage of $150,000 at a fixed APR of 6% for 30 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
Consider a student loan of $17,500 at a fixed APR of 9% for 5 years. a....
Consider a student loan of $17,500 at a fixed APR of 9% for 5 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. . (Do not round until the final answer. Then round to the nearest cent as needed.)
Consider a student loan of $17,500 at a fixed APR of 12% for 25 years. a....
Consider a student loan of $17,500 at a fixed APR of 12% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. (Do not round until the final answer. Then round to the nearest cent as needed.)
Consider the following loan. Complete parts (a)-(c) below An individual borrowed $73,000 at an APR of 7 % , which w...
Consider the following loan. Complete parts (a)-(c) below An individual borrowed $73,000 at an APR of 7 % , which will be paid off with monthly payments of $595 for 18 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ the annual interest rate is the number of payments per year is the loan term is years, and the payment amount...
answer a through c do not round until final answer to the nearest cent Math 120...
answer a through c
do not round until final answer to the nearest cent
Math 120 - Quantitative Reasoning Homework: 4D Homework Score: 0 of 1 pt 2 of 5 (4 complete) HW SE 4.D.21 E Consider a student loan of $12,500 at a fixed APR of 6% for 2 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the...
Consider a 15-year home mortgage loan with a fixed APR of 4.8%. Which of the following...
Consider a 15-year home mortgage loan with a fixed APR of 4.8%. Which of the following statements is NOT correct? Select one: O a. If you want to entirely pay off the loan at the end of year 10, the required lump sum payment is equal to the present value of 60 monthly payments O b. The monthly interest amount is calculated by 4.8% times the loan balance at the beginning of the month O c. The scheduled monthly loan...
For the following loan, make a table showing the amount of each monthly payment that goes...
For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $145,000 with a fixed APR of 6% for 30 years. Fill out the table. New Principal End of... Payment Toward Interest Principal Month 1 (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) $ $ Fill out...
Complete the first two months of an amortization schedule for the fixed-rate mortgage Mortgage: Interest rate:...
Complete the first two months of an amortization schedule for the fixed-rate mortgage Mortgage: Interest rate: Term of loan: $117.950 6.25% 13 years Complete the first two payments of the amortization schedule below. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Total Interest Principal Balance of Principal Number Payment Payment Payment
Consider a home mortgage of $250,000 at a fixed APR of 3% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ 1,185.53 (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total amount paid over...
consider a home mortgage of 225000 at a fixed apr 4.5% for 25
years... I need all
ai2 Me·4.D-S Calculate loan payments, tota This Question: 1 pt 1 of Consider a home mortgage of $225,000 at a fixed APR of 4 5% for 25 years. a. Calculate the monthly payment b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid...
Consider the following loan. Complete parts (a)-(c) below An individual borrowed $73,000 at an APR of 7 % , which will be paid off with monthly payments of $595 for 18 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ the annual interest rate is the number of payments per year is the loan term is years, and the payment amount...
answer a through c
do not round until final answer to the nearest cent
Math 120 - Quantitative Reasoning Homework: 4D Homework Score: 0 of 1 pt 2 of 5 (4 complete) HW SE 4.D.21 E Consider a student loan of $12,500 at a fixed APR of 6% for 2 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the...
Consider a 15-year home mortgage loan with a fixed APR of 4.8%. Which of the following statements is NOT correct? Select one: O a. If you want to entirely pay off the loan at the end of year 10, the required lump sum payment is equal to the present value of 60 monthly payments O b. The monthly interest amount is calculated by 4.8% times the loan balance at the beginning of the month O c. The scheduled monthly loan...
For the following loan, make a table showing the amount of each monthly payment that goes toward principal and interest for the first three months of the loan. A home mortgage of $145,000 with a fixed APR of 6% for 30 years. Fill out the table. New Principal End of... Payment Toward Interest Principal Month 1 (Round the final answers to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) $ $ Fill out...
Complete the first two months of an amortization schedule for the fixed-rate mortgage Mortgage: Interest rate: Term of loan: $117.950 6.25% 13 years Complete the first two payments of the amortization schedule below. (Do not round until the final answer. Then round to the nearest cent as needed.) Payment Total Interest Principal Balance of Principal Number Payment Payment Payment
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