Suppose that 20 monthly payments of $100 each are followed by 30 monthly payments of $200...

Suppose that 20 monthly payments of $100 each are followed by 30 monthly payments of $200 each. If the interest is at an effective monthly rate of 0.5%, what is the accumulated value of the series at the time of the final payment?

Expert Solution

jeff jeffy answered 2 hours ago

3-year annuity immediate with monthly payments has an initial payment of 200. Subsequent monthly payments are...

3-year annuity immediate with monthly payments has an initial payment of 200. Subsequent monthly payments are x% more than each preceding payment. Given that the amount of the 14th payment is 481.969, determine the present value of the annuity using a 9%, compounded monthly, interest rate.

suppose you take a mortgage for $95,000 at 6.50% for 30 years, monthly payments. the loan...

suppose you take a mortgage for $95,000 at 6.50% for 30 years, monthly payments. the loan has a 5% prepayment penalty if the loan is repaid within the first 5 years of life. if you repay the loan at the end of year 4 what is the payoff of the loan? A- 0 B- 4,515 C- 90,307 D-156,250 You to refinance your current mortgage that has a current balance of $150,000 and does not have a prepayment penalty. Your lender...

Suppose you take a fixed-rate mortgage for $250,000 at 4.50% for 30 years, monthly payments. A....

Suppose you take a fixed-rate mortgage for $250,000 at 4.50% for 30 years, monthly payments. A. (1 pt) How much of the payment is interest for month 100? B. (1 pt) How much total interest do you pay in the first six years?

Suppose you bought a new home for $240,000 using a 30-year mortgage with monthly payments of...

Suppose you bought a new home for $240,000 using a 30-year mortgage with monthly payments of $1,548.667. The annual interest rate of the mortgage is 6.7%. After the first 3 years (36 monthly payments), approximately how much money have you paid in interest and how much in principal? Group of answer choices Interest: $55,752.02; Principal: $8,294.67 Interest: $47,457.35; Principal: $8,294.67 Interest: $1,548.67; Principal: $231,705.33 Interest: $47,457.35; Principal $1,548.67

Suppose that you are currently making monthly payments on a $350,000 30-year mortgage at 4.89% interest...

Suppose that you are currently making monthly payments on a $350,000 30-year mortgage at 4.89% interest compounded monthly. For the last 5 years, you have been paying the regular monthly payments. You now have the option to refinance your current mortgage with a new 30-year mortgage that has an interest rate of 4.26% compounded monthly. Note that the lender of the new loan has a closing cost fee of $2,000 (for title insurance, home appraisal costs, etc.) for the new...

What is the price of a monthly bond (makes payments monthly) that has 20 years to...

What is the price of a monthly bond (makes payments monthly) that has 20 years to maturity, a coupon rate of 12.00%, and a face value of $1,000 if your required rate of return is an APR of 18.00% with quarterly compounding?

Suppose you borrow $180,000 at 6% for 30 years, monthly payments with two discount points. Your...

Suppose you borrow $180,000 at 6% for 30 years, monthly payments with two discount points. Your mortgage contract includes a prepayment penalty of 4% over the entire loan term. A. (1 pt) What is the APR of this loan? B. (1 pt) What is the effective cost if you prepay the loan at the end of year five?

1.Suppose you take a 30 year fixed-rate mortgage for $175,000 at 5.50%, monthly payments with a...

1.Suppose you take a 30 year fixed-rate mortgage for $175,000 at 5.50%, monthly payments with a two discount point rebate (negative discount points) to the borrower. Assume that you have no other financing fees. A.(1 pt) What is the APR of the loan? B.(1 pt) What is the effective cost with a five-year holding period?

Suppose you take a fixed-rate mortgage for $200,000 at 5.00% for 30 years, monthly payments. 1)...

Suppose you take a fixed-rate mortgage for $200,000 at 5.00% for 30 years, monthly payments. 1) How much of the payment is interest for month 100? How much interest do you pay in the first six years?

1. Calculate the monthly payments on a home loan for $200, 000 at an APR of...

1. Calculate the monthly payments on a home loan for $200, 000 at an APR of 5.1% if the loan is for... a) 10 years b) 15 years c) 30 years Then recalculate the payments if you are able to put 20% down.

Question