Question
In: Accounting
You have just sold your house for $900,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $900,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $750,000.
The mortgage is currently exactly 18½ years old, and you have just made a payment. If the interest rate on the mortgage is 7.75% (APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.)
Cash that remains after payoff of mortgage is $___.
(Round to the nearest dollar.)
Solutions
ekkarill92 answered 2 years agoRelated Solutions
You have just sold your house for $900,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $900,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and an initial balance of $700,000. The mortgage is currently
exactly 18½ years old, and you have just made a payment. If the
interest rate on the mortgage is 7.75% (APR), how much cash will
you have from the sale once you pay off the mortgage? (Note: Be
careful not to round any intermediate steps less than six decimal
places.)
You have just sold your house for $900,000 in cash. Your mortgage was originally a? 30-year...
You have just sold your house for $900,000 in cash. Your
mortgage was originally a? 30-year mortgage with monthly payments
and an initial balance of $800,000.
The mortgage is currently exactly? 18½ years? old, and you have
just made a payment. If the interest rate on the mortgage is
5.25%
?(APR), how much cash will you have from the sale once you pay
off the? mortgage? ?
You have just sold your house for $ 900,000 in cash. Your mortgage was originally a...
You have just sold your house for $ 900,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and an initial balance of
$ 700 comma 000The mortgage is currently exactly 18½ years
old, and you have just made a payment. If the interest rate on the
mortgage is 5.25 %
(APR), how much cash will you have from the sale once you pay
off the mortgage? (Note: Be careful not to round any intermediate
steps less...
You have just sold your house for$1,000,000 in cash. Your mortgage was originally a 30-year mortgage...
You have just sold your house for$1,000,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and an initial balance of$800,000.The mortgage is currently
exactly 18½ years old, and you have just made a payment. If the
interest rate on the mortgage is 5.25%
(APR), how much cash will you have from the sale once you pay
off the mortgage? (Note: Be careful not to round any intermediate
steps less than six decimal places.)
Cash that remains...
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $1,000,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and had an initial balance of $800,000. The mortgage is currently
exactly 18.5 years old, and you have just made a payment. If the
interest rate on the mortgage is 5.25% p.a. (with monthly
compounding), how much cash will you have from the sale once you
pay off the mortgage? (Round to the nearest dollar).
a.
$540.661
b.
$459,340
c....
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $1,000,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and an initial balance of $800,000. The mortgage is currently
exactly 18½ years old, and you have just made a payment. If the
interest rate on the mortgage is 6.25% (APR), how much cash will
you have from the sale once you pay off the mortgage? (Note: Be
careful not to round any intermediate steps less than six decimal
places.)
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $1,000,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and had an initial balance of $800,000. The mortgage is currently
exactly 18.5 years old, and you have just made a payment. If the
interest rate on the mortgage is 5.25% p.a. (with monthly
compounding), how much cash will you have from the sale once you
pay off the mortgage? (Round to the nearest dollar).
a. $456,931 b. $626,635 c....
You have just sold your house for $1,050,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $1,050,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and an initial balance of $700,000. The mortgage is currently
exactly 18.5 years old, and you have just made a payment. If the
interest rate on the mortgage is 5.25% (APR with semi-annual
compounding), how much cash will you have from the sale once you
pay off the mortgage? (Note: Be careful not to round any
intermediate steps less than...
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $1,000,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and an initial balance of $800,000. The mortgage is currently
exactly 18½ years old, and you have just made a payment. If the
interest rate on the mortgage is 5.25% (APR), how much cash will
you have from the sale once you pay off the mortgage?
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year...
You have just sold your house for $1,000,000 in cash. Your
mortgage was originally a 30-year mortgage with monthly payments
and an initial balance of $800,000. The mortgage is currently
exactly 18½ years old, and you have just made a payment. If the
interest rate on the mortgage is 5.25% (APR), how much cash will
you have from the sale once you pay off the mortgage?
Complete the steps below using cell references to given data or
previous calculations. In...
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