User Account

All Pages

How much is each monthly payment

Assignment Help Finance Basics
Reference no: EM132013416

How do you Calculate this question? You plan to buy a $240,000 house with a 30 year mortgage with a 4.8% nominal annual rate (=A.P.R.) Payments are monthly, interest is monthly compounded, and you did not make a down payment. Assume you make all payments on time, at the end of the month. Answer the following questions.

a) How much is each monthly payment? [2 decimal places]

b) How much interest will you pay with (=in) your 75th payment? [2 decimal places]

c) Now assume you have made payments such that you only owe $150,000 on the mortgage. You decide to increase your payments by $100 per month. How many payments will it take to pay off your mortgage?

Reference no: EM132013416

Questions Cloud

Discuss about the potential consequences of violations : You have worked for Beta Technology for six months. In that time, you conducted informal meetings with management and other hourly and salaried employees.
Investment account at the highland park mutual funds : How much money must Larry Dietz deposit into a 2.8% investment account at the Highland Park Mutual Funds, at the beginning of each year
What steps would you need to take in order to solve issue : Reaching out a Solution This assignment is designed to assist you in developing a thoughtful process for advocating about an issue as a nurse.
Calculate the fixed asset turnover ratio : The company reported total of $710,000 in fixed assets on January 1, 2011 & $890,000 in fixed assets on December 31, 2011. Calculate fixed asset turnover ratio
How much is each monthly payment : Payments are monthly, interest is monthly compounded, and you did not make a down payment. Assume you make all payments on time
What is the book value per share : What is the book value per share? Show your answer to the nearest $.01. Do not use the $ symbol in your answer, thus if your answer is $2.80 enter 2.80.
Prepare depreciation schedule under the straight-line method : The equipment has an estimated residual value of $2,000. Prepare a depreciation schedule under the straight-line method
What is the required return on portfolio : What is the required return on this portfolio? Enter your answer to the nearest .1%. Do not use the % sign in your answer, thus 12.1% is 12. 1 rather than 12.1
What other laws govern the use of protected information : Besides HIPAA, what other laws govern the use of protected information? Name at least three. When should an epidemiologist or public health professional obtain.

Reviews

Write a Review

 

Finance Basics Questions & Answers

  How much inventory does the firm have

Nugent, Inc, has a gross profit margin of 25.49 percent on sales of $7,42,976 and total assets of $6,872,416. The company has a current ratio of 2.69 times, accounts receivable of $1,438,163 cash and marketable securities of $197,562, and current ..

  Calculate the npv for the proposed investment

Charlie Company is attempting to evaluate the feasibility of investing $95,000 in a piece of equipment that has a 5-year life. The firm has estimated the cash inflows associated with the proposal as shown below. Assume the firm has a 12% cost of c..

  Estimate the cost of this acuisition to the share

The book value of interest-bearing liabilities on the balance sheet of Dow Jones was $1.46 billion. Estimate the cost of this acuisition to the share.

  Compute the best route for the graduates housing situation

Compute the best route for the graduate's housing situation, developing your understanding of time value of money (TVM) concepts and calculations.

  List and briefly describe the three general areas of

1. list and briefly describe the three general areas of responsibility for a chief financial officer cfo of a selected

  What would be the firm new receivables balance

If the electronic claims system costs $30,000 a year to lease and operate, should it be adopted? (Assume that the entire receivables balance has to be financed)

  Discussing northern trust bank

Write a two-page paper, APA format, one reference discussing Northern Trust bank. Discuss the retail banking services for individual customers. Discuss the credit risks of personal banking.

  How is the mpc related to the consumption function

If consumption increases by $12 billion when real disposable income increases by $15 billion, what is the value of the MPC? What is the relationship between the MPC and the MPS? If the MPC rises, what must happen to the MPS? How is the MPC related to..

  What effect does leasing have on the stability of a firm

What effect does leasing have on the stability of a firm’s reported earnings?

  Write the capm equation

Write the CAPM equation and Use the CAPM equation to value a stock with a beta of 1.5 if the expected market return on the market

  Determine profit for group booking

The booking price for motivational seminar (held every week) is charged at $650 per booking, with maximum seats = 100. The total cost for arranging such a seminar comes to $35,000 per week. The manager offers 10% discount on group bookings, allowi..

  Calculate two ebit-eps coordinates for each of the structure

Calculate two EBIT-EPS coordinates for each of the structures by selecting any two EBIT values and finding their associated EPS values. Plot the two capital structures on a set of EBIT-EPS axes. Indicate over what EBIT range, if any, each structure i..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd