User Account

All Pages

How much will they owe the bank after the payment

Assignment Help Mathematics
Reference no: EM131637721

Question: HOME MORTGAGES Suppose a home buyer secures a bank loan of A dollars to purchase a house. If the interest rate charged is r/year and the loan is to be amortized in t yr, then the principal repayment at the end of i mo is given by

B = f(A, r, t, i) = A[(1 + (r/12)i) - 1]/[(1 + (r/12)12t) - 1]      (0 ≤ i ≤ 12t)

Suppose the Blakelys borrow a sum of $280,000 from a bank to help finance the purchase of a house and the bank charges interest at a rate of 6%/year. If the Blakelys agree to repay the loan in equal installments over 30 yr, how much will they owe the bank after the 60th payment (5 yr)? The 240th payment (20 yr)?

Reference no: EM131637721

Questions Cloud

What is the marginal productivity of labor : What is the marginal productivity of labor and the marginal productivity of capital when the amounts expended on labor and capital are 125 units and 8 units.
Though common in both domestic and global supply chains : Several challenges, though common in both domestic and global supply chains, are more significant and critical in global operations.
Describe some of the ethical issues faced by supply chain : describe some of the ethical issues faced by supply chain managers in the global business environment providing specific examples based on your readings.
How each problem could impact a groups productivity : Introduction - clear explanation of the type of organization. Explanation of how each problem could impact a group's productivity.
How much will they owe the bank after the payment : If the Blakelys agree to repay the loan in equal installments over 30 yr, how much will they owe the bank after the 60th payment (5 yr)?
Most appropriate supply chain strategies for each category : What are the most appropriate supply chain strategies for each category? Why?
Describe the process of data validation : Describe the process of data validation. Under which conditions are respondents typically recontacted?
What laboratory tests would helpful in confirming diagnosis : What laboratory tests would be helpful in confirming this diagnosis? B.T.'s physician orders low-dose steroid therapy as part of the treatment plan.
Discuss infectious cardiac or venous diseases : Nursing care of patients with valvular, inflammatory, and infectious cardiac or venous diseases

Reviews

Write a Review

Mathematics Questions & Answers

  Questions on ferris wheel

Prepare a Flexible Budget Gator Divers is a company that provides diving services such as underwater ship repairs to clients in the Tampa Bay area.

  Logistic map

This assignment has two question related to maths. Questions are related to bifurcation cascade and logistic map.

  Finding the probability of cards

This assignment has questions related to probabiltiy.

  Systems of ode

Find all the xed points, and study their stability and Draw the phase portrait of the system, as well as the graphs of the solutions in all relevant cases.

  Derive the boolean expression

Derive the Boolean Expression and construct the switching circuit for the truth table stated

  System of equations

Evaluate which equations are under-identified, just-identified, and over-identified.

  Linear programming problem

Linear programming problem consisting of only two constraints with one objective function.

  Find the natural domain

Find the natural domain of the given functions.

  Introduction to numerical methods

Compute the coecients of the polynomials using the term recurrence relation.

  Chart of the topological manifold

De?nition of smoothness of functions on a smooth manifold is chart independent and hence geometric.

  Mathematics in computing

Questions related on mathematics in computing.

  Complex problems

Complex problems

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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