User Account

All Pages

What would the payment be for the thirty-year loan

Assignment Help Accounting Basics
Reference no: EM131796486

Problem

Suppose you wish to borrow $205,000 for a home with an APR of 4.25%. You know that a 15-year home loan is beyond your reach due to your budget restrictions, but you are weighing the pros and cons of a 30-year versus a 20-year mortgage. You would like to identify how much the payments would be and especially the difference in total interest charged. Round each of your answers to the nearest dollar and do not include commas.

What would the payment be for the 30-year loan?

What would the total interest be for the 30 year loan?

What would the payment be for the 20-year loan?

What would the total interest be for the 20 year loan?

What is the difference in total interest between the 30-year loan and the 20-year loan?

Reference no: EM131796486

Questions Cloud

Produces chips in lots of ten thousand : A factory which produces chips in lots of ten thousand use the following scheme to check the quality of its product. From each lot of chips produced
What will be the firms best after-tax cost of debt on bond : Temple is issuing a RM1,000 par value bond that pays 8% annual interest and matures in 15 year. What will be the firm's best after-tax cost of debt on the bond?
Probability that the die showed 4 : Suppose 1 roll a fair die, then toss as many coins as there are spots on the die.' a) What is the probability that exactly three heads appear among the coins?
Determine the re-measurement gain or loss : Determine the re-measurement gain or loss to be reported in Stephanie's 2011 consolidated net income, assuming that the U.S. dollar is the functional currency
What would the payment be for the thirty-year loan : What would the payment be for the 30-year loan? What would the total interest be for the 30 year loan? What would the payment be for the 20-year loan?
Investors required rate of return for particular security : An issue of common stock currently sells for $50.00 per share, has an expected dividend to be paid at the end of the year of $2.50 per share.
Probability that exactly 9 of the tosses : Given that at least 9 of the tosses resulted in tails, what is the probability that exactly 9 of the tosses resulted in tails?
Approaches to security-development nexus : Are there significant differences between Canada’s approaches to the security-development nexus in distinct fragile and conflict-affected states, since 2001?
Discuss the substantive audit work done by engagement team : You are concerned about the adequacy of the substantive audit work done by the engagement team

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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