Question
In: Finance
You have a loan for $200,000 at 5% interest over 15 years. In the eighth year...
You have a loan for $200,000 at 5% interest over 15 years. In the eighth year you pay off $5000
a)If your payment doesn't change, how much longer until the loan is paid off?
b)if the loan re-amortized, or the maturity date stays the same, what would the new payment be?
Solutions
jeff jeffy answered 2 months agoRelated Solutions
Suppose you have an interest only loan for $30,000 over 5 years. Should the interest rate...
Suppose you have an interest only loan for $30,000 over 5 years.
Should the interest rate be an APR of 7%, compounded monthly, what
is the monthly payment in all but the final month?
Consider an annuity that pays equal monthly payments of $600 for
the next 30 years. Given this, and an APR of 5%, compounded
monthly, what would you pay for this today?
A $200,000 loan amortized over 11 years at an interest rate of 10% per year requires...
A $200,000 loan amortized over 11 years at an interest rate of
10% per year requires payments of $21,215.85 to completely remove
the loan when interest is charged on the unrecovered balance of the
principal. If interest is charged on the original principal instead
of the unrecovered balance, what is the loan balance after 11 years
provided the same $21,215.85 payments are made each year?
How much interest will you pay during the eighth year of a 25-year $350,000 loan with...
How much interest will you pay during the eighth year of a
25-year $350,000 loan with an APR of 5.5% if you only make the
minimum monthly payments?
A. $17,293
B. $15,941
C. $16,139
D. $28,989
3. A borrower has a 30-year mortgage loan for $200,000 with an interest rate of 5%...
3. A borrower has a 30-year mortgage loan for $200,000 with an
interest rate of 5% and monthly payments. If she wants to pay off
the loan after 8 years, what would be the outstanding balance on
the loan?
(A) $84,886
(B) $91,246
(C) $171,706
(D) $175,545
Project Assumptions: Equity: $200,000 $400,000, 11-year interest-only loan at 5% APR. (i.e. you pay 5% of...
Project Assumptions:
Equity: $200,000
$400,000, 11-year interest-only loan at 5% APR. (i.e. you pay
5% of the principle every year for ten years and repay the full
loan amount when you sell the property. Assume the first payment is
due when you sign the loan.)
Operating expenses (once development is complete): $10,000
Construction will take 2 full years, with the building opening
at the start of year 2.
You already have one lease signed for half the building
starting in...
Project Assumptions: Equity: $200,000 $400,000, 11-year interest-only loan at 5% APR. (i.e. you pay 5% of...
Project Assumptions:
Equity: $200,000
$400,000, 11-year interest-only loan at 5% APR. (i.e. you pay
5% of the principle every year for ten years and repay the full
loan amount when you sell the property. Assume the first payment is
due when you sign the loan.)
Operating expenses (once development is complete): $10,000
Construction will take 2 full years, with the building opening
at the start of year 2.
You already have one lease signed for half the building
starting in...
Find the monthly payment for a 25-year fixed-rate loan of $200,000 at 5% annual interest.
Find the monthly payment for a 25-year fixed-rate loan of
$200,000 at 5% annual interest.
5. (a) What are the monthly payments on a 20-year, $200,000 loan having 6% annual interest,...
5. (a) What are the monthly payments on a 20-year, $200,000 loan
having 6% annual interest, compounded monthly? Interest is computed
based on the balance at the beginning of each month, and payments
are made at the end of eachmonth.
(b) How much must be deposited each month to achieve a balance
of $200,000 at the end of 25 years, at 6% annual interest
compounded monthly? Deposits are made at the beginning of each
month, and interest is paid on...
How much interest will you pay during the last six years of a 15-year $300,000 loan...
How much interest will you pay during the last six years of a
15-year $300,000 loan with an APR of 3.15% assuming you only make
the minimum required monthly payments?
A. $13,915
B. $18,223
C. $18,641
D. $13,551
Suppose that you take out a 30-year mortgage loan of $200,000 at an interest rate of...
Suppose that you take out a 30-year mortgage loan of $200,000 at
an interest rate of 10%.
What is your total monthly payment?
How much of the first month’s payment goes to reduce the size of
the loan?
If you can afford to pay $2,000 per month, how long would it
take you to pay
for this loan (still at 10% interest)?
If you can only pay $1,700 per month, and still want to finish
paying in 30
years, what...
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