What is the amount of interest to be paid in the first month of a 15-year,...
What is the amount of interest to be paid in the first month of a 15-year, 5%, $243.6 thousand conventional fixed-rate mortgage? Round to the nearest penny ($.01).
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What is the amount of interest to be paid in the first month of
a 15-year,...
What is the payment amount in month 27 of a constant amortization mortgage loan for $260,000...
What is the payment amount in month 27 of a constant amortization mortgage loan for $260,000 with a 30-year term and an annual interest rate of 8%? Enter your answer rounded to the nearest penny with no punctuation other than a decimal point.
You are buying a house that costs $440000 and plan on taking out a 30-year fixed...
You are buying a house that costs $440000 and plan on taking out a 30-year fixed rate mortgage at an annual interest rate of 2.4%. 1)You make a 15% down payment of 66000, and take out a loan for the remaining $374000. How much would your mortgage payments be? (Ignore taxes, fees, and other charges, and round to the nearest penny.) . 2)You make this mortgage payment at the end of the first month. Your mortgage payment at the end of...
A new 15-year mortgage had an initial balance of $123.8 thousand and an interest rate of...
A new 15-year mortgage had an initial balance of $123.8 thousand and an interest rate of 5.9%. What is the balance of this mortgage after 57 months? Assume that the borrower has made only the required payments. Express your answer in $ thousands, round to the nearest $0.01 thousand. E.g., if your answer is $125,573.78, record it as 125.57.
franchise. AMOUNT OF AN ANNUIY Find the amount of an if $250/month is paid into it...
franchise. AMOUNT OF AN ANNUIY Find the amount of an if $250/month is paid into it for a period of 20 Vr. ity 1 con- ing interest at the rate of 8%/year compounded tinuously 12. THE AMOUNT OF AN ANNUITY Find the amount of an annu- ity if $400/month is paid into it for a period of 20 yr, ean- ing interest at the rate of 6%year compounded con- tinuously 13. THE AMOUNT OF AN ANNUITY Aiso deposits $150/month in...
Suppose that you are considering a conventional, fixed-rate 30-year mortgage loan for $100,000. The lender quotes...
Suppose that you are considering a conventional, fixed-rate 30-year mortgage loan for $100,000. The lender quotes an APR of 3.28%, compounded monthly; mortgage payments would be monthly, beginning one month after the closing on your home purchase. After 10 years of payments, what is the balance outstanding on your loan? Do not round at intermediate steps in your calculation. Round your answer to the nearest penny. Do not type the $ symbol.
Laura and Martin obtain a 30-year, $1 10,000 conventional mortgage at 10.5% on a house seling for S15 a) Determine the...
Laura and Martin obtain a 30-year, $1 10,000 conventional mortgage at 10.5% on a house seling for S15 a) Determine the total amount they will pay for their house. b) How much of the cost will be interest? c) How much of the first payment on the mortgage is applied to the principal? The r month 31, 65 mortgage payment including principal and inte est a) The total amount that Laura and Martin will pay for their house is s...
The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is...
The original loan amount on an FHA mortgage including the 1.75% up-front mortgage insurance premium is $210,000 and the average balance in the first year is $208,711. Given the following information on a 30-year fixed-payment, fully-amortizing loan, determine the total monthly loan payment: Interest rate: 6%; Annual premium for mortgage insurance (paid monthly): 0.85%. (Input your answer rounded to the nearest whole penny and without the $ sign, e.g., 1000.01)
Find the amount of an annuity if $460/month is paid into it for a period of...
Find the amount of an annuity if $460/month is paid into it for a period of 20 years, earning interest at the rate of 3%/year compounded continuously. (Round your answer to the nearest whole number.)
Olivia plans to secure a 5-year balloon mortgage of $260,000 toward the purchase of a condominium
Olivia plans to secure a 5-year balloon mortgage of $260,000 toward the purchase of a condominium. Her monthly payment for the 5 years is calculated on the basis of a 30-year conventional mortgage at the rate of 5%/year compounded monthly. At the end of the 5 years, Olivia is required to pay the balance owed (the "balloon" payment). What will be her monthly payment for the first 5 years, and what will be her balloon payment? (Round your answers to...
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid...
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 6.1%. n % PV PVA 10 | 6.00% - 0.55839 7.3601 10 | 6.10% 0.553157 .3253 20 3.00% 0.55368 14.8775 20 3.05% 0.54833 14.8089 ROUND ANSWERS TO NEAREST DOLLAR 1. What is the issue price of the bond? $. 2. Record the issuance of the bond: 3. What is the interest expense for the first interest payment?...
franchise. AMOUNT OF AN ANNUIY Find the amount of an if $250/month is paid into it for a period of 20 Vr. ity 1 con- ing interest at the rate of 8%/year compounded tinuously 12. THE AMOUNT OF AN ANNUITY Find the amount of an annu- ity if $400/month is paid into it for a period of 20 yr, ean- ing interest at the rate of 6%year compounded con- tinuously 13. THE AMOUNT OF AN ANNUITY Aiso deposits $150/month in...
Laura and Martin obtain a 30-year, $1 10,000 conventional mortgage at 10.5% on a house seling for S15 a) Determine the total amount they will pay for their house. b) How much of the cost will be interest? c) How much of the first payment on the mortgage is applied to the principal? The r month 31, 65 mortgage payment including principal and inte est a) The total amount that Laura and Martin will pay for their house is s...
Find the amount of an annuity if $460/month is paid into it for a period of 20 years, earning interest at the rate of 3%/year compounded continuously. (Round your answer to the nearest whole number.)
The company issues 6% 10-year bonds with a total face amount of $1,000,000 with interest paid semi-annually. The market rate of interest is 6.1%. n % PV PVA 10 | 6.00% - 0.55839 7.3601 10 | 6.10% 0.553157 .3253 20 3.00% 0.55368 14.8775 20 3.05% 0.54833 14.8089 ROUND ANSWERS TO NEAREST DOLLAR 1. What is the issue price of the bond? $. 2. Record the issuance of the bond: 3. What is the interest expense for the first interest payment?...
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