Login

Create Account
+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
Find the coordinates of c , Plot the points A(2,0) and B (6,0) on a graph p...
Plot the points A(2,0) and B (6,0) on a graph paper. Complete an equilateral triangle ABC such that the ordinate of C be a positive real number .Find the coordinates of C (Ans: (
Composition of functions, functions f&g on R to R such that f=\g but fog=go...
functions f&g on R to R such that f=\g but fog=gof
Square and square root., the value of square root of 200multiplied by squar...
the value of square root of 200multiplied by square root of 5+
Algebra, (a+b+c)2=
(a+b+c)2=
Repeated eigenvalues, It is the last case that we require to take a look at...
It is the last case that we require to take a look at. During this section we are going to look at solutions to the system, x?' = A x? Here the eigenvalues are repeated eigen
Find out the interval of validity, Without solving, find out the interval o...
Without solving, find out the interval of validity for the subsequent initial value problem. (t 2  9) y' + 2y = In 20  4t, y(4) = 3 Solution First, in order to u
Differential equatoin, how to solve questions based on higher differential ...
how to solve questions based on higher differential equations
Systems of linear equation, a man can row a bangka at a rate of 5 km/h in s...
a man can row a bangka at a rate of 5 km/h in still water. It takes 10 minutes longer to row upstream a distance of 2km than he takes to row downstream. What is the rate of the cur
Last year a math textbook cost $54 what is this years cost, Last year, a ma...
Last year, a math textbook cost $54. This year the cost is 107 percent of what it was last year. What is this year's cost? a. $59.78 b. $57.78 c. $61.00 d. $50.22 To ?nd out
Partial Differentiation, If the sides angles of a triangle ABC vary in such...
If the sides angles of a triangle ABC vary in such a way that it''s circum  radius remain constant. Prove that, da/cos A +db/cos B+dc/cos C=0
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
IT Courses and Help
ExpertsMind Services
Online Tutoring
Projects Assistance
Exam Preparation
Coursework Help
Programming Courses
Engineering Courses
Why Us ?
~Experienced Tutors
~24x7 hrs Support
~Plagiarism Free
~Quality of Work
~Time on Delivery
~Privacy of Work