1.
=PMT(4.6%/12,12*25,-280000)=1572.26641637383
2.
=PMT(7.6%/12,12*23,-FV(4.6%/12,12*2,PMT(4.6%/12,12*25,-280000),-280000))=2053.61146560848
Problem 5-56 Teaser Rate Mortgage (LG5-9) A mortgage broker is offering a 25-year $280,000 mortgage with a teaser r...
20 Problem 5-55 Teaser Rate Mortgage (LG5-9) A mortgage broker is offering a 30-year $178,900 mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 3.5 percent APR interest rate. After the second year, the mortgage interest rate charged increases to 6.5 percent APR. 5 oints What are the monthly payments in the first two years? (Do not round intermediate calculations and round your final answer to 2 decimal...
A mortgage broker is offering a 25-year $270,000 mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 3.6 percent APR interest rate. After the second year, the mortgage interest rate charged increases to 6.6 percent APR. What are the monthly payments in the first two years? What are the monthly payments after the second year?
A mortgage broker is offering a 20-year $185,900 mortgage. The borrower makes monthly payments on a 4.2 percent APR interest rate. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Monthly payment
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9.200 dining room set. The furniture store offers you a 3 year loan with an APR of 72 percent. What are the monthly payments? (Do not round Intermediate calculations and round your final answer to 2 decimal places) Payment How would the payment differ if you paid interest only? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Payment per month
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $9,700 dining room set. The furniture store offers you a 2-year loan with an APR of 9 percent. What are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Paymentſ per month
14 Problem 5-39 Loan Payments (LG5-9) You wish to buy a $23,500 car. The dealer offers you a 5-year loan with a 9 percent APR. What are the monthly payments (Do not round intermediate calculations and round your final answer to 2 decimal places.) -Book Payment per month Hint erences How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month
Problem 5-1 Future Value (LG5-1) Compute the future value in year 7 of a $2,200 deposit in year 1, and another $1700 deposit at the end of year 4 using a 8 percent interest rate (Do not round intermediate calculations and round your final answer to 2 decimal places.) Problem 4 and 5-6 Present Value and Annuity Payments A local furniture store is advertising a deal in which you buy a $4,200 living room set with three years before you need to make...
Problem 5-27 Present Value of a Perpetuity (LG5-5) A perpetuity pays $220 per year and interest rates are 7.3 percent. How much would its value change if Interest rates increased to 8.8 percent? (Round your answer to 2 decimal places.) Change in value Did the value increase or decrease? increase O decrease Problem 4 and 5-7 House Appreciation and Mortgage Payments Say that you purchase a house for $272,000 by getting a mortgage for $240,000 and paying a $32,000 down...
Problem 5-40 Loan Payments (LG5-9) You wish to buy a $10,800 dining room set. The furniture store offers you a 3-year loan with an APR of 10.8 percent. What are the monthly payments? (Do not round Intermediate calculations and round your final answer to 2 decimal places Payment per month How would the payment differ if you paid interest only? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment per month
Problem 5-25 Present Value (LG5-4) You are looking to buy a car. You can afford $390 in monthly payments for four years. In addition to the loan, you can make a $1,600 down payment. If interest rates are 8.50 percent APR, what price of car can you afford (loan plus down payment)? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value