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.
When Gustavo and Serrana bought their home, they had a 5.1% loan
with monthly payments of $870.60 for 30 years. After making 78
monthly payments, they plan to refinance for an amount that
includes an additional $35,000 to remodel their kitchen. They can
refinance at 4.5% compounded monthly for 25 years with refinancing
costs of $625 included with the amount refinanced.
A) Find the amount refinanced. (Round your answer to the nearest
cent.)
(b) Find their new monthly payment. (Round...
You need a loan of $160,000 to buy a home. Calculate your
monthly payments and total closing costs for each choice below.
Choice 1: 30 year fixed rate at 5% with closing costs if $2300
and no points.
Choice 2: 30 year fixed rate at 4.5% with closing costs of $2300
and 5 points.
What is the monthly payment for choice one?
What is the monthly payment for choice two?
what is the total closing cost for choice one?
what...
You take out a 30-year $200,000 mortgage loan with an APR
(monthly) of 4.5% and monthly payments. In 12 years you decide to
sell your house and pay off the mortgage. What is the principal
balance on the loan?
You need a loan of $140 comma 000 to buy a home. Calculate your
monthly payments and total closing costs for each choice below.
Briefly discuss how you would decide between the two choices.
Choice 1: 15-year fixed rate at 7% with closing costs of $1400
and no points. Choice 2: 15-year fixed rate at 6.5% with closing
costs of $1400 and 3 points. What is the monthly payment for
choice 1? $ what (Do not round until the final...
You're offered a 5.200% rate (APR) on your mortgage loan. With
monthly payments, what is the Effective Annual Rate on the loan?
5.326% 5.314% 5.146% 5.402%
You obtain a $95.000 home loan for 15 years at 5.1% interest
compounded monthly. If you made the first payment was made on
August 15, 2009, how much interest will be paid in the year
2014?
You're offered a 5.200% rate (APR) on your mortgage
loan. With monthly payments, what is the Effective
Annual Rate on the loan?
5.402%
5.326%
5.314%
5.146%
on may 15 2006 you obtained an 82000, 15 year home loan at 5.1%
compounded monthly,with the first payment due on june 15th 2006.
The size of the monthly payment is $652.73
A. Find the balance due on the loan on December 15, 2011.
B. How much interest will be paid on the loan during 2012?
C. If you refinanced the loan on December 15, 2011 at 7.2%
interest what will the size of the new payment if the term...