Login

Create Account
Customer Service Chat
+14156709189
info@expertsmind.com
Submit Homework/Assignment
Get quote & make Payment
Get Solution
Loan amortisation problem, Mathematics
On 30 June 2012 Bill purchase a home by taking out a 30 year mortgage of $600,000 at 6% interest per annum, compounded months. Repayments are made at the end of each month.
(a) Calculate Bill’s monthly repayment assuming there are no other transaction costs.
(b) Calculate the unpaid balance on the loan as at 1 July 2022.
(c) If interest rate rises to 8% per annum, compounded monthly, from 1 July 2022, what will Bill’s new monthly repayment be if the life of the loan remains unchanged?
I have worked out my solution and was wanting the answer checked to see if I understand the working out.
Posted Date: 8/18/2012 6:51:16 PM  Location : United States
Ask an Expert
Related Discussions:
Loan amortisation problem, Assignment Help, Ask Question on Loan amortisation problem, Get Answer, Expert's Help, Loan amortisation problem Discussions
Write discussion on Loan amortisation problem
Your posts are moderated
Write your message here..
Related Questions
Properties of definite integrals, solution of properties of definite integr...
solution of properties of definite integral
Viscosity measure, get the viscosity of particle to apply the stoke''s law
get the viscosity of particle to apply the stoke''s law
Hypothesis test, Describe, in your own words, the following terms and give ...
Describe, in your own words, the following terms and give an example of each. Your examples are not to be those given in the lecture notes, or provided in the textbook. By the en
Forecasting by using least squares, Forecasting By Using Least Squares ...
Forecasting By Using Least Squares Data have been kept of sales over the last seven years Year 1 2 3 4 5 6
How many types of integer operatiions explain, How many types of Integer Op...
How many types of Integer Operatiions explain? Adding Integers The rules for adding integers are: 1. A positive number plus a positive number equals the sum of the two pos
Constantinople byzance adrienople nicosia, What was the name of Istanbul be...
What was the name of Istanbul before its capture by the Turks? Constantinople Byzance Adrienople Nicosia
Addition, 100 plus 2
100 plus 2
the volume of a pyramid, Write a script to determine the volume of a pyram...
Write a script to determine the volume of a pyramid, which is 1/3 * base * height, where the base is length * width. On time the user to enter values for the length, width, and th
Sciencetific notations, how would you answer a question like this on here ...
how would you answer a question like this on here (8x10^5)
Estimating sums, round to the nearest ten to estimate , 422+296
round to the nearest ten to estimate , 422+296
Assignment Help
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
ExpertsMind Services
Online Tutoring
Projects Assistance
Exam Preparation
Coursework Help
Programming Help
IT Services
Why Us ?
~Experienced Tutors
~24x7 hrs Support
~Plagiarism Free
~Quality of Work
~Time on Delivery
~Privacy of Work