Constant payment mortgage

Assignment Help Financial Management
Reference no: EM131458711

You wish to purchase a property for $600,000 and need to acquire a mortgage to finance $500,000 of the purchase price. However, you wish to have a maximum monthly payment of $2,500 A bank offers you a $500,000 fixed rate partially amortizing 10 year constant payment mortgage with a 4% rate. If you accept this loan and hold it to maturity, what is the balloon payment that will be due at the end of 10 years? State your answer as a positive number rounded to the nearest cent.

Reference no: EM131458711

Questions Cloud

Massively multiplayers online games : Reloaded Games is an online games platform which powers leading massively multiplayers online games. The Reloaded platform serves more than 30 million users.
Identify the seven basic functions of a sales manager : Identify the seven basic functions of a sales manager. A sales manager links the sales force to other aspects of the internal and external environments.
Perform the audit in accordance with gaas : would you insist that the unpaid amount of $63,000 be included in the liabilities shown on the balance sheet as a condition necessary to your issuance of an unqualified audit report?
Business intelligence systems : How does the Internet and Web technologies help improve knowledge management systems?
Constant payment mortgage : A bank offers you a $500,000 fixed rate partially amortizing 10 year constant payment mortgage with a 4% rate.
Develop a question from the nursing practice problem : Following the PICOT format, write a PICOT statement in your selected practice problem area of interest, which is applicable to your proposed capstone project.
Explain differences between managers and leaders : Discussion Problem: Managers vs. Leaders- Discuss whether or not you were aware of the differences between managers and leaders.
Explain the role of ethical behavior in personal selling : Explain the role of ethical behavior in personal selling. Ethical behavior is vital to building positive, long-term relationships with customers.
Environmental compliance manager for a profitable : You are the environmental compliance manager for a profitable, small plastics manufacturing company here in Maryland. Previous reports indicate that the factory

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

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!

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