Find the amount of each monthly payment

Assignment Help Financial Management

Reference no: EM132017673

Suppose that the house of your dreams costs $1,200,000. You manage to scrap a 20 percent down payment. You borrow the rest from a bank. The terms of the loan are:

-30 years

-4.5 percent

-Monthly payments

A) Find the amount of each monthly payment.

B) Suppose you decide to sell the house after 12 years:

-What is the loan balance at the end of 12 years?

-What is the amount of your total payments over the 12 years?

-What is the amount of your total principal payments over the 12 years?

-What is the amount of your total interest payments over the 12 years?

C) Use Excel to set up an amortization table.

Reference no: EM132017673

Questions Cloud

Difference between packet-filter firewalls and proxy filters : Explain at least two (2) differences between packet-filter firewalls and proxy filters. Provide one (1) example of a situation where you might.

What percentage of income is paid in taxes at each level : What percentage of income is paid in taxes at each level? Is the tax rate progressive, proportional, or regressive?

Discuss client-side scripting and server-side programming : Both PHP and ASP are server-side technologies and HTML, CSS and JavaScript are client-side technologies. Based on the lesson and your readings discuss.

What is its net present value : Suppose you can purchase this investment for $150,000. What is its net present value? Should you purchase this investment?

Find the amount of each monthly payment : Find the amount of each monthly payment. What is the loan balance at the end of 12 years? What is the amount of your total payments over the 12 years?

Market current perception of the likelihood of the merger : What is the market’s current perception of the likelihood of the merger? How should she set her bid price?

How to use agile methods to scale the release plan : Explain how to use Agile methods to scale the release plan you developed for retiring the legacy applications.

How much money did sammy receive from selling bonds : Sammy's Incorporated issued 12 year bonds on January 1, 2015. How much money did Sammy receive from selling the bonds

Current breakeven point in terms of quantity-sales dollars : What is Martin Corporation’s current breakeven point in terms of Quantity, Sales Dollars

User Account

All Pages