How much of the first loan payment is interest

Assignment Help Finance Basics
Reference no: EM131222510

You just acquired a mortgage in the amount of $249,500 at 6.75 percent interest, compounded monthly. Equal payments are to be made at the end of each month for thirty years. How much of the first loan payment is interest? (Assume each month is equal to 1/12 of a year.)

Reference no: EM131222510

Questions Cloud

What is the bond current market price : 1. Madsen Motors's bonds have 21 years remaining to maturity. Interest is paid annually; they have a $1,000 par value; the coupon interest rate is 10.5%; and the yield to maturity is 9%. What is the bond's current market price? Round your answer t..
Did the source take counter argument into consideration : Who is the author of your article? Provide the author's credentials. Where was the article published? Does source provide a well-rounded argument, or is there and bias?  Did the source take counter argument into consideration?
Present value of investment : You have an investment with 10 semi-annual cash flows of $1000. The first payment is 6 months from today. If the EAR is 11%, what is the present value of this investment?
Can you find some manufacturing process : Can you find some manufacturing process examples to illustrate some of the axioms? For example, it might be useful to consider the precision and tolerance of the machines and mechanical parts when we talk about more restrictive or more relaxed pre..
How much of the first loan payment is interest : You just acquired a mortgage in the amount of $249,500 at 6.75 percent interest, compounded monthly. Equal payments are to be made at the end of each month for thirty years. How much of the first loan payment is interest?
Find the feedback transfer function : The closed-loop gain of a negative-feedback amplifier is Af = -80 and the open-loop gain is A = -105. - Find the feedback transfer function β.
Qtip election for the assets : The day after Kenny died, Melissa gave Kenny's children and grandchildren each $22,000 then left for France to stay with her mother. Would a QTIP election for the assets transferred to Melissa be available?
Two stocks and form a zero-risk portfolio : Consider two risky stocks (their variances are different from zero), which are perfectly negatively correlated, i.e., their correlation is equal to -1. Is it possible to combine these two stocks and form a zero-risk portfolio (variance of zero)? I..
How are the two types of friends similar : Dailey offers a couple of different definitions of a friend, a traditional definition and a social-networking site definition. How are these two types of friends similar, and how are they different?

Reviews

Write a Review

Finance Basics Questions & Answers

  Calculate the net cash provided by operating activities

King Company makes a short-term investment in 300 shares of Renfro Corporation's common stock. The stock is purchased for $30 a share plus brokerage fees of $400.

  What has caused the ranking conflict

What is each project's internal rate of return? What has caused the ranking conflict?

  Dandee lions inc has a cash balance of 97000 accounts

dandee lions inc. has a cash balance of 97000 accounts payable of 212000 inventory of 195000 accounts receivable of

  Gather three years worth of financial statements for your

gather three years worth of financial statements for your firm.nbsp include the balance sheet income statement and cash

  The risk-free rate on 10-year us treasury bills is 3 and

1.the corporate treasurer of gator electronics corporation expects the company to grow at 4 in the future and assumes

  The accompanying summary data

The accompanying summary data on CeO2 particle sizes (nm) under certain experimental conditions was read from a graph in the article

  The spot price of the market index is 900 after 3 months

the spot price of the market index is 900. after 3 months the market index is priced at 920. the annual rate of

  Calculation of monthly payment

If Bank One is provide a 30 year mortgage with and EAR of 5 3/8 percent. If you plan to borrow $150,000, Determine your monthly payment?

  The market gained 52 in the last week of february 2009

the stock market as measured by the sampp 500 index declined by 2.6 in the first week of february 2009. it declined

  What is the break-even level of earnings before interest

What is the break-even level of earnings before interest and taxes (EBIT) between these two options?

  What is the incremental free cash flow for year one

Working capital is expected to increase by $5,000 at the inception of the project, but this amount will be recaptured at the end of year five. What is the incremental free cash flow for year one?

  Shows a strong seasonal pattern

The sales forecast for your firm for 2014 is $9.1 million.  The cost of processing (production) is 50% of sales.  Sales and administrative expenses are $100,000 per month.  A close look at the sales forecast shows a strong seasonal pattern.  The s..

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