.Q. You purchase a home for $275,000 with a 10% down payment. You take out a...

.Q. You purchase a home for $275,000 with a 10% down payment. You take out a 30-year mortgage loan at 4.35% interest. What is the balance remaining on the loan after the first 4 years? Round to the nearest 0.01.

Expert Solution

Calculations-

Please upvote if the ans is helpful.In case of doubt,do comment.Thanks.

jeff jeffy answered 2 years ago

.Q. You purchase a home for $275,000 with a 10% down payment. You take out a...

.Q. You purchase a home for $275,000 with a 10% down payment. You take out a 30-year mortgage loan at 4.35% interest. What is the total amount of interest paid in the first 4 years? Round to the nearest 0.01.

You put 20% down on a home with a purchase price of $250,000. The down payment...

You put 20% down on a home with a purchase price of $250,000. The down payment is thus $50,000, leaving a balance owed of $200,000. A bank will loan you this remaining balance at 3.91% APR. You will make monthly end-of-the-period payments with a 30-year payment schedule. What is the monthly annuity payment under this schedule?

You purchase a $1,250,000 home by providing a down payment equal to 20% of the purchase price.

You purchase a $1,250,000 home by providing a down payment equal to 20% of the purchase price. You take out a loan for the remaining balance that requires equal end-of -month payments over the next 30 years with an EAR of 3.8%. How interest will be paid with the first two payments?

You want to buy a $249,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan

You want to buy a $249,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan for the rest.a) How much is the loan amount going to be? $b) What will your monthly payments be if the interest rate is 5%? $c) What will your monthly payments be if the interest rate is 6%?

Suppose that you want to purchase a home for $220,000 using a down payment as described...

Suppose that you want to purchase a home for $220,000 using a down payment as described below and you finance the rest of the purchase by taking out a 15-year mortgage at 4.5% interest compounded monthly. The amount of the down payment is $56,083. Construct an amortization table for the entire length of the loan making sure to include columns for the payment number, the amount of the payment, the amount of each payment that goes towards the principal, the amount...

You take out a mortgage to buy a house worth $300,000. If the down payment is...

You take out a mortgage to buy a house worth $300,000. If the down payment is 30%, the annual interest rate is 6% compounded monthly, and the term of the mortgage is 30 years, what are your monthly mortgage payments? a) $1,079 b) $1,259 c) $1,439 d) $1,505 e) $1,719

You are about to buy a home; the purchase price of the car is $200,000 and you are paying 10% of that amount as a down payment and financing the remainder.

You are about to buy a home; the purchase price of the car is $200,000 and you are paying 10% of that amount as a down payment and financing the remainder. Your mortgage loan terms are 30 years of monthly payments at an annual rate of 3.25%.How much are your monthly mortgage payments?Over the life of the loan, how much did you pay in interest?

You want to buy a home for $259,000. You plan to pay a 10% down payment,...

You want to buy a home for $259,000. You plan to pay a 10% down payment, and take out a 30 year loan for the rest. a. How much will the loan amount be? b. What will your monthly payments be if the interest rate is 5% C. what will your monthly payments be if the interest rate is 6%?

You want to buy a $252,000 home. You plan to pay 10% as a down payment,...

You want to buy a $252,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan for the rest. a) How much is the loan amount going to be? $ b) What will your monthly payments be if the interest rate is 6%? $ c) What will your monthly payments be if the interest rate is 7%? $

You decided to purchase a new home and need a $357,211 mortgage. You take out a...

You decided to purchase a new home and need a $357,211 mortgage. You take out a loan from the bank that has an interest rate of 1.4%. What is the yearly payment to the bank to pay off the loan in 20 years?

Question

.Q. You purchase a home for $275,000 with a 10% down payment. You take out a...

Solutions

Expert Solution

Related Solutions

.Q. You purchase a home for $275,000 with a 10% down payment. You take out a...

You put 20% down on a home with a purchase price of $250,000. The down payment...

You purchase a $1,250,000 home by providing a down payment equal to 20% of the purchase price.

You want to buy a $249,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan

Suppose that you want to purchase a home for $220,000 using a down payment as described...

You take out a mortgage to buy a house worth $300,000. If the down payment is...

You are about to buy a home; the purchase price of the car is $200,000 and you are paying 10% of that amount as a down payment and financing the remainder.

You want to buy a home for $259,000. You plan to pay a 10% down payment,...

You want to buy a $252,000 home. You plan to pay 10% as a down payment,...

You decided to purchase a new home and need a $357,211 mortgage. You take out a...