A person purchased a $165,731 home 10 years ago by paying 20% down and signing a...
A person purchased a $165,731 home 10 years ago by paying 20% down and signing a 30-year mortgage at 11.4% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid balance by signing a new 20-year mortgage at 5.4 % compounded monthly. How much interest will refinancing save? Money Saved: $ nothing (Round to the nearest cent as needed.)
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A person purchased a $165,731 home 10 years ago by paying 20%
down and signing a...
I!! Question Help A person purchased a $139,585 home 10 years ago by paying 15% down...
I!! Question Help A person purchased a $139,585 home 10 years ago by paying 15% down and signing a 30-year mortgage at 8.1% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid balance by signing a new 20-year mortgage at 4.8% compounded monthly. How much interest will refinancing save? Money Saved: $(Round to the nearest cent as needed.)
[2 points] Suppose that 15 years ago you bought a home for $500,000, paying 20% as...
[2 points] Suppose that 15 years ago you bought a home for $500,000, paying 20% as a down payment, and financing the rest at 5% interest for 30 years. How much money did you pay as your down payment? [2 points] How much money was your existing mortgage (loan) for? [2 points] What is your current monthly payment on your existing mortgage? Note: Carry at least 4 decimal places during calculations, but round your final answer to the nearest cent....
14. # -/7.18 points TanFin11 5.3.048. My Notes Five years ago, Diane secured a bank loan...
14. # -/7.18 points TanFin11 5.3.048. My Notes Five years ago, Diane secured a bank loan of $340,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 2.5%/year compounded monthly, Diane is thinking of refinancing her property. (Round your answers to...
Five years ago, Diane secured a bank loan of $380,000 to help finance the purchase of...
Five years ago, Diane secured a bank loan of $380,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 10% per year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 7% per year compounded monthly, Diane is thinking of refinancing her property. (Round your answers to the nearest cent.) (A)...
15. [-/0.1 Points] DETAILS TANAPMATHS 4.3.048. MY NOTES PRACTICE ANOTHER Five years ago, Diane secured a...
15. [-/0.1 Points] DETAILS TANAPMATHS 4.3.048. MY NOTES PRACTICE ANOTHER Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 yr, and the Interest rate was 10%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-yr home mortgage has now dropped to S%/year compounded monthly, Diane is thinking of refinancing her property. (Round your...
Help 14. + 3.58/7.18 points Previous Answers TanFin 11 5.3.048. My Notes Five years ago, Diane...
Help
14. + 3.58/7.18 points Previous Answers TanFin 11 5.3.048. My Notes Five years ago, Diane secured a bank loan of $340,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 2.5%/year compounded monthly, Diane is thinking of refinancing her property....
Five years ago, Diane secured a bank loan of $310,000 to help finance the purchase of...
Five years ago, Diane secured a bank loan of $310,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 25 yr, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 25-yr home mortgage has now dropped to 4%/year compounded monthly, Diane is thinking of refinancing her property. How much less would Diane's monthly mortgage payment be if she refinances?...
Suppose that 10 years ago you bought a home for $130,000, paying 10% as a down...
Suppose that 10 years ago you bought a home for $130,000, paying 10% as a down payment, and financing the rest at 7% interest for 30 years. Your existing mortgage (the one you got 10 years ago) How much money did you pay as your down payment?
Ten years ago you obtained a 30-year mortgage for $400,000 with a fixed interest rate of...
Ten years ago you obtained a 30-year mortgage for $400,000 with a fixed interest rate of 3% APR compounded monthly. The mortgage is a standard fixed rate mortgage with equal monthly payments over the life of the loan. What are the monthly fixed mortgage payments on this mortgage (i.e., the minimum required monthly payments to pay down the mortgage in 30 years)? What is the remaining loan balance immediately after making the 120th monthly payment (i.e., 10 years after initially...
I just need help with the last two answers. I am not sure why they were...
I just need help with the last two answers.
I am not sure why they were counted as incorrect? Thanks.
Five years ago, Diane secured a bank loan of $380,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 9% per year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to...
I!! Question Help A person purchased a $139,585 home 10 years ago by paying 15% down and signing a 30-year mortgage at 8.1% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid balance by signing a new 20-year mortgage at 4.8% compounded monthly. How much interest will refinancing save? Money Saved: $(Round to the nearest cent as needed.)
14. # -/7.18 points TanFin11 5.3.048. My Notes Five years ago, Diane secured a bank loan of $340,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 2.5%/year compounded monthly, Diane is thinking of refinancing her property. (Round your answers to...
15. [-/0.1 Points] DETAILS TANAPMATHS 4.3.048. MY NOTES PRACTICE ANOTHER Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 yr, and the Interest rate was 10%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-yr home mortgage has now dropped to S%/year compounded monthly, Diane is thinking of refinancing her property. (Round your...
Help
14. + 3.58/7.18 points Previous Answers TanFin 11 5.3.048. My Notes Five years ago, Diane secured a bank loan of $340,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 2.5%/year compounded monthly, Diane is thinking of refinancing her property....
Five years ago, Diane secured a bank loan of $310,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 25 yr, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 25-yr home mortgage has now dropped to 4%/year compounded monthly, Diane is thinking of refinancing her property. How much less would Diane's monthly mortgage payment be if she refinances?...
I just need help with the last two answers.
I am not sure why they were counted as incorrect? Thanks.
Five years ago, Diane secured a bank loan of $380,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 9% per year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to...
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