Question
In: Economics
WellsBargo offer a mortgage of $250,000 payable over 20 years with APR of 8%. What is...
WellsBargo offer a mortgage of $250,000 payable over 20 years
with APR of 8%. What is the annual mortgage payment?
SunBust offers a mortgage of $X also payable over 20 years with APR
of 7%. You now the yearly mortgage payment for this option is
$1,532 less than the WellsBargo option. What is the original amount
of the mortgage from SunBust?
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
A $250,000 mortgage was originally financed at 8% annual interest over 30 years with monthly payments...
A $250,000 mortgage was originally financed at 8% annual
interest over 30 years with monthly payments and compounding. After
making your final payment in year 5, interest rates have fallen to
4% and you are considering refinancing.
What is your monthly mortgage payment under the initial
loan?
What would be your new monthly mortgage payment after
refinancing?
If the refinancing cost is 2% of the remaining balance on your
loan, how much longer would you need to remain in your...
Consider a home mortgage of $175,000 at a fixed APR of 4.5% for 20 years. a....
Consider a home mortgage of $175,000 at a fixed APR of 4.5%
for 20 years.
a. Calculate the monthly payment.
b. Determine the total amount paid over the term of the
loan.
c. Of the total amount paid, what percentage is paid toward the
principal and what percentage is paid for interest.
If you borrow $250,000 for 15 years at an APR of 4.5%, what will be the...
If you borrow $250,000 for 15 years at an APR of 4.5%, what will
be the remaining loan balance after ten years of making the
required minimum monthly payments?
A. $102,584
B. $102,192
C. $391,748
D. $49,192,043
A $ 120 000.00 mortgage is amortized over 20 years. If interest on the mortgage is...
A $ 120 000.00 mortgage is amortized over 20 years. If interest
on the mortgage is 6.5% compounded semi-annually, calculate the
size of monthly payments made at the end of each month.
you have two mortgage options the first is a 180000 mortgage payable over 30 years with...
you have two mortgage options the first is a 180000
mortgage payable over 30 years with apr of 11 the other mortgage is
of x also payable over 30 years with apr 13% the yearly mortgage
payment of this option is 7312more than the first
what's the mortgage offered by the second
A $150,000 mortgage at an APR of 5.5% amortized over 25 years can be paid off...
A $150,000 mortgage at an APR of 5.5% amortized over 25 years
can be paid off by making monthly payments of $915.59. If instead
you make payments of $457.80 every 2 weeks, how much sooner would
you be able to repay your mortgage?
You will be paying off a mortgage of $250,000 over the next 25 years. You have...
You will be paying off a mortgage of $250,000 over the next 25
years. You have signed a loan agreement with Me-Bank to
secure a fixed rate of 5.00%. The mortgage loan is compounded
annually.
a) What are the
monthly payments? [4 points]
b) How much will
your payments be over the first five years? [2
points]
c) What is the
amount of principal that you pay off with the first payment?
[2 points]
d) How much principal
remains...
You will be paying off a mortgage of $250,000 over the next 25 years. You have...
You will be paying off a mortgage of $250,000 over the next 25
years. You have signed a loan agreement with Me-Bank to secure a
fixed rate of 5.00%. The mortgage loan is compounded
semi-annually.
a) What are the monthly payments?
b) How much will your payments be over the first five years?
c) What is the amount of principal that you pay off with the
first payment?
d) How much principal remains to be paid after the first five...
You bought a house 8 years ago with a $250,000 mortgage. It was a 15 year loan with
You bought a house 8 years ago with a $250,000 mortgage. It was a 15 year loan with monthly payments which will pay off the loan when you make the last payment. The interest rate was 6%. What are your monthly payment and your current loan balance? How much interest will you pay in the upcoming year?
Question: What is a mortgage payable?
Question: What is a mortgage payable? How mortgage payable is calculated?
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