Homework Answers
Loan amount = 400,000 - 57,000 = $ 343,000
Number of years,nper = 30 years
Rate of interest, rate = 9% per year
Annual payment(PMT) = ![=pmt(9%,30,343000 PMT(rate, nper, pv, [fv], [type])](http://img.homeworklib.com/questions/b6fb8d40-0e0d-11ea-99bb-8b28c7ab39ba.png?x-oss-process=image/resize,w_560)
= $
33,386.37
Add Answer to:
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:53:47 Submit Quiz This Quiz: 9 pts possible This Question: 1 pt 5 of...
Time Remaining: 01:56.19 Submit Quiz Quiz: Chapter 4 Quiz (Copy) This Question: 1 pt 5 of...
Time Remaining: 01:56.19 Submit Quiz Quiz: Chapter 4 Quiz (Copy) This Question: 1 pt 5 of 9 This Quiz: 9 pls possible You are thinking of purchasing a house. The house costs $250,000 You have $36.000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 10% per year....
quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:01:04 Submit Qu is Question: 1 pt 8 of...
quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:01:04 Submit Qu is Question: 1 pt 8 of 9 This Quiz: 9 pts possit When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 5.5% per year. The annual payment on the car is $4,800. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a....
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:55:01 Submit Quiz This Question: 1 pt This Quiz:...
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:55:01 Submit Quiz This Question: 1 pt This Quiz: 9 pts possible 3 of 9 Assume that your parents wanted to have $160,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and eamed 6.0% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they...
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 02:33:54 Submit Quiz This Question: 1 pt 1 of 9 This Quiz: 9 pts possib...
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 02:33:54 Submit Quiz This Question: 1 pt 1 of 9 This Quiz: 9 pts possible When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 6.1 % per year. The annual payment on the car is $5,000. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios?...
You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash...
You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 7% per year. What will your annual payment be if you sign this mortgage?
Quiz: 4.6 QUIZ Time Remaining: 01:47:19 Submit Quiz This Question: 1 pt 5 of 5 (4...
Quiz: 4.6 QUIZ Time Remaining: 01:47:19 Submit Quiz This Question: 1 pt 5 of 5 (4 complete) ID This Quiz: 5 pts possible Estabon poured himself a hot beverage that had a temperature of 200°F then set it on the kitchen table to cool. The temperature of the kitchen was a constant 71°F. If the drink cooled to 185 °F in 4 minutes, how long will it take for the drink to cool to 98°F? minutes (Do not round until...
You are thinking of purchasing a house. The house costs $ 350 comma 000. You have...
You are thinking of purchasing a house. The house costs $ 350 comma 000. You have $ 50 comma 000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 7 % per year. What will your annual payment be if you sign up for this mortgage?
You are thinking of purchasing a house. The house costs $ 200 comma 000$200,000. You have...
You are thinking of purchasing a house. The house costs $ 200 comma 000$200,000. You have $ 29 comma 000$29,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 3030-year mortgage that requires annual payments and has an interest rate of 6 %6% per year. What will be your annual payment if you sign this mortgage?
XP 4-35 (similar to) You are thinking of purchasing a house. The house costs $250,000. You...
XP 4-35 (similar to) You are thinking of purchasing a house. The house costs $250,000. You have $36,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 8% per year. What will be your annual payment if you sign this mortgage? The annual payment is $ . (Round...
You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash...
You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires monthly payments and has an APR of 6% per year. What will your monthly payment be if you take this mortgage?
Time Remaining: 01:56.19 Submit Quiz Quiz: Chapter 4 Quiz (Copy) This Question: 1 pt 5 of 9 This Quiz: 9 pls possible You are thinking of purchasing a house. The house costs $250,000 You have $36.000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 10% per year....
quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:01:04 Submit Qu is Question: 1 pt 8 of 9 This Quiz: 9 pts possit When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 5.5% per year. The annual payment on the car is $4,800. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios? a....
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 01:55:01 Submit Quiz This Question: 1 pt This Quiz: 9 pts possible 3 of 9 Assume that your parents wanted to have $160,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and eamed 6.0% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they...
Quiz: Chapter 4 Quiz (Copy) Time Remaining: 02:33:54 Submit Quiz This Question: 1 pt 1 of 9 This Quiz: 9 pts possible When you purchased your car, you took out a five-year annual-payment loan with an interest rate of 6.1 % per year. The annual payment on the car is $5,000. You have just made a payment and have now decided to pay off the loan by repaying the outstanding balance. What is the payoff amount for the following scenarios?...
Quiz: 4.6 QUIZ Time Remaining: 01:47:19 Submit Quiz This Question: 1 pt 5 of 5 (4 complete) ID This Quiz: 5 pts possible Estabon poured himself a hot beverage that had a temperature of 200°F then set it on the kitchen table to cool. The temperature of the kitchen was a constant 71°F. If the drink cooled to 185 °F in 4 minutes, how long will it take for the drink to cool to 98°F? minutes (Do not round until...
XP 4-35 (similar to) You are thinking of purchasing a house. The house costs $250,000. You have $36,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 8% per year. What will be your annual payment if you sign this mortgage? The annual payment is $ . (Round...
Most questions answered within 3 hours.
-
In the readings for this topic, the methods for gathering data are
provided. However, there is...
asked 10 minutes ago -
Select from the option list provided the most likely
classification(s) of net assets, if any, that...
asked 10 minutes ago -
Ivanhoe Corp. management is expecting a project to generate
after-tax income of $76,940 in each of...
asked 12 minutes ago -
An unknown compound contains only CC , HH , and OO . Combustion
of 5.30 g5.30...
asked 18 minutes ago -
List 3 viral classes based on their morphology.
What is the difference between lytic and lysogenic...
asked 20 minutes ago -
Myca Corp. has a project with the following cash flows. What is
the value of the...
asked 1 hour ago -
When an object moves through a fluid, the fluid exerts a viscous
force F on the...
asked 3 hours ago -
Why did the observed chemistry of thallium mislead Mendelev to
place the group 13 element (Tl)...
asked 4 hours ago -
A sine wave signal is displayed on the screen of an
oscilloscope. 6 peak-to-peak divisions are...
asked 7 hours ago -
a
1500 kg car accelerates from 0 to 25 m / s in 21.0s. How much...
asked 8 hours ago -
Calculate the molarity of each of the following solutions:
(a) 30.5 g of ethanol (C2H5OH) in...
asked 8 hours ago -
1 Refer to the build-borrow-or-buy framework as a decision tree
for the Adidas company. Identify a...
asked 8 hours ago