User Account

All Pages

What would the payments be on the loan at the 6% rate

Assignment Help Algebra
Reference no: EM131029318

1. The book value of a machine is $21,000 at the end of its fourth year of life and $14,000 at the end of its sixth year of life. What was the purchase value of the machine, assuming that "straight line depreciation" is being used.

("Straight line depreciation" means the decline in value is a straight line, so find the equation of the straight line connecting the two points. The "purchase price" would then be the "y-intercept.")

2. You are offered a home mortgage of $200,000, 30 year term at 6% but for the first five years your payment would be $800 per month. After five years payments will be recomputed at the 6% rate on the remaining balance to pay off the loan in the remaining 25 years.

a. What would the payments be on the loan at the 6% rate?

b. What will the mortgage amount be at the end of five years at the $800 per month payment?

c. After the five year teaser payment years what will the payments be to pay off the new mortgage in the remaining 25 years?

Reference no: EM131029318

Questions Cloud

Explain the importance of brainstorming : Explain the importance of brainstorming. What are the three most important approaches to brainstorming? Explain a situation in which brainstorming could achieve innovative results
Risk management : Write a report on Risk Management, your report  should be 2800-3000 words count length including minimum 10 references.
Which program would be best for managing a typical project : Provide a detailed comparative analysis of the software programs and identify which program would be best for managing a typical project in your organization and explain why.
The health insurance portability and accountability act : Which law made significant changes to provisions in the Health Insurance Portability and Accountability Act
What would the payments be on the loan at the 6% rate : . You are offered a home mortgage of $200,000, 30 year term at 6% but for the first five years your payment would be $800 per month. After five years payments will be recomputed at the 6% rate on the remaining balance to pay off the loan in the re..
Merchant under the uniform commercial code : Johnny, a neighbor who is not a merchant under the Uniform Commercial Code, offers to buy a car from Mark for $30,000.   Mark asks Johnny for some time to think about it. Johnny says sure. He writes on a piece of paper that he will keep the offer ope..
Analyze how the company uses advertising or other messages : Analyze how the company uses advertising or other messages, such as email marketing, to appeal to your interests and senses
Among the five basic levels of scale measurements : Among the five basic levels of scale measurements, which one provides the researcher with the most data and information? Why is that particular scale the least used in research practice? Explain the main differences between interval and ratio scale m..
What can be said about the attained significance level : Test the hypothesis that the variance of the population of weight measurements is σ2 = .01 against the alternative that σ2 > .01. Use an α = .05 level of significance. What assumptions are required for this test?

Reviews

Write a Review

Algebra Questions & Answers

  Find the heights of the window

The combined areas of the shutters total the same as the area of the window. Find the heights of the window.

  Show that i is an ideal in r

Let S be a subset of a set X. Let R be the ring of real-valued functions on X, and let I be the set of real-valued functions on X whose restriction to S is zero. Show that I is an ideal in R.

  Describes the behavior of the system

Use the MATLAB command conv to calculate the response of the system

  Quadratic equations and completing square

A record for free-fall to the ground without a parachute is 175 ft. How long did the fall take, using the formula s=16t^2

  What pattern you notice in taylor polynomials

f has a so-called "removeable singularity" at x=0, where it is (so far) undefined. What value should we assign to f(0) to make f continuous at x=0?

  Pete smith found in his attic a woody woodpecker watch in

pete smith found in his attic a woody woodpecker watch in its original box. it had a price tag on it for 4.40. the

  Linear formula and money problems

In 2000, the average cost of tuition and fees at public four- year colleges was $3500, and in 2005 it was $5100. The supporting information is listed below. Note that the known value for 2001 is $3700.

  What is gauss elimination explain it in detail

What computer applications can be used to graph systems of equations? In what circumstances does it make more sense to graph a system than to use the substitution, elimination, or matrix methods?

  The student chooses one of each of the selections

A cafeteria offers 4 main menu selections, 5 salad selections, 3 fruit selections and 8 drink selections. How many ways can a student choose a lunch if

  Write an equation in slope-intercept form

Find the slope of the line that goes through (-0.1, 0.2) and (0.5, 0.8). Write an equation in slope-intercept form, if possible for the line through (0, -1) that is perpendicular to the line y = x.

  Computing minimum monthly payment of credit card

Hamlet has a credit card balance of $4172.26 with an annual percentage rate of 23.2%. His card requires a minimum payment of 2% of the balance. What is his minimum payment?

  Perform computations & write answer in scientific notation

Perform the computations and write your answer in scientific notation.

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