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A: Given:
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A: The question is based on the concept of Financial Management.
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A: Loan amount = $ 1000 Monthly payment = $ 5.37 Period = 30 Years Number of payments = 30*12 = 360
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A:
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A: Present value of annuity = P * {1-[1/(1+r)^n]/r} Where, Present value of annuity =150000 n= 6 r =10%…
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A: The calculation is:
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A: 1) Loan Amount = 80% of 415,000 = $332,000.
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A: Amount of Loan =$ 132000 Years = 40 Interest Rate = 15.7% Monthly Payment = $1742.80 Interest Rate…
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A: given, p = $100,000 r = 5% m = 12 n = 30
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A: using excel Pmt function PMT(rate,nper,pv,fv) rate =10% nper =30 pv =-100000 fv =0 compute pmt
Q: Suppose you take a 30-year fixed-rate mortgage loan for $600,000 with a mortgage rate of 6%.
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A: The correct option is option “c”.
Q: maximum loan
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A: "Hi, Thanks for the Question. Since you asked multiple questions, we will answer the first question…
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A: Loan amount = $ 300,000 APR = 4.5% Monthly interest rate = 4.5%/12 = 0.375% Monthly payment = $ 1800
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A: Using excel PMT function
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A: Given:
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A: “Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the…
Oppenheimer Bank is offering a 30-year mortgage with an EAR of 5 3/8%. If you plan to borrow $150,000, what will your monthly payment be?
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- I. M. Greedy Mortgage Bank offers you a $60,000, eleven-year term loan at a 5% annual interest rate to help you buy a home. What will your annual loan payment be?The bank will loan you $175,000 to buy a house. The loan terms are as follows; 30 year mortgage with monthly payments and a 6.9% annual interest rate (monthly compounding). What will your monthly payments be to the bank? If you will pay $1500 each year in taxes, $1200 in insurance, and $400 in HOA fees, how much will your total mortgage payments be each month? How much interest will you pay over the 30 year life of the loan?Suppose you take out a $117,000, 20-year mortgage loan to buy a condo. The interest rate on the loan is 5%. To keep things simple, we will assume you make payments on the loan annually at the end of each year. a. What is your annual payment on the loan? b. Construct a mortgage amortization. c. What fraction of your initial loan payment is interest? d. What fraction of your initial loan payment is amortization? e. What is the total of the loan amount paid off after 10 years (halfway through the life of the loan)? f. If the inflation rate is 3%, what is the real value of the first (year-end) payment? g. If the inflation rate is 3%, what is the real value of the last (year-end) payment? h. Now assume the inflation rate is 6% and the real interest rate on the loan is unchanged. What must be the new nominal interest rate? i-1. Recompute the amortization table. i-2. What is the real value of the first (year-end) payment in this high-inflation scenario? j. What is the real value of the last…
- You want to buy a $120,000 house, and you apply for a mortgage loan. The bank requires a 20% down payment. It will give you a 25-year loan at 8.75% annual interest rate, payable in monthly installments. How much is your monthly payment?You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 15-year mortgage at 3.25% annual interest rate for the cost of the house after they receive a 20% down payment. Determine the loan amount? How much their monthly payment will be?Suppose you are buying your first condo for $180,000, and you will make a $15,000 down payment. You have arranged to finance the remainder with a 30-year, monthly payment, amortized mortgage at a 6.5% nominal interest rate, with the first payment due in one month. What will your monthly payments be?
- Your bank offers the Bradys a 30 year mortgage with a rate of 5%. At that rate, the monthly payments for principal and interest on the loan will be $5.37 for every $1,000 financed. What is the amount (in $) of the principal and interest portion of the Bradys' monthly payment?You can afford an $800 per month mortgage payment. You found a 30-year loan at 6% interest. How big of a loan can you afford? How much will you pay the loan company? How much of that money is interest?You bought a house for $175,000. The bank requires a 25% down payment; it will provide a 30 year mortgage loan to you for the remainder. Assume an annual interest rate of 5% and monthly payments. What is your monthly payment? Use the $ sign and round to the nearest dollar.
- Your bank is offering you a mortgage loan for $100,000. It is a fixed rate loan at 4% per annum (APR). It has a 30 year tenor and requires monthly payments. What is your monthly payment? Round to the nearest $ and use the $ symbol.Suppose you have good credit and can get a 30 year mortgage for $100,000 at 5%. What is your monthly payment?You need a loan of 250000 to buy your first home. The bank offers a 30 year fixed-rate mortgage with an APR of 4.16% or a 15 year fixed-rate mortgage with an APR of 3.22%.What will your monthly payments be for the 30-year mortgage? How much will the total interest be for the 30-year mortgage? What will your monthly payments be for the 15-year mortgage? How much will the total interest be for the 15-year mortgage?