Question
In: Finance
Please show all work in order to get credit on an excel file. If you provide...
Please show all work in order to get credit on an excel file. If you provide only the answers without showing your work, I will not be able to provide any credit if your answer is wrong.
Mr. X bought a house for $293,000. He put 20% down and obtained a fully amortized monthly loan for the balance at 5.75% interest for 30 years.
a. Find the amount of X’s monthly payment.
b. Find the total interest paid by X.
c. Complete an amortization table for this loan
Solutions
Expert Solution
Question a:
Purchase price of House = $293,000
Down Payment = $293,000 * 20% = $58,600
PV = Loan Amount = Purchase price of House - Down Payment = $293,000 - $58,600 = $234,400
Interest rate per month = 5.75%/12 = 0.4791667%
n = 30 *12 = 360 months
Monthly Payment = [r * PV] / [1 - (1+r)^-n]
= [0.4791667% * $234,400] / [1 - (1+ 0.4791667%)^-360]
= $1,123.167 / 0.821091
= $1367.895
Therefore, Monthly Payment for X is $1,367.895
Question b:
Total Interest paid by X = (Months * Monthly Installment) - Loan Amount
= (360 months * $1,367.895 ) - $234,400
= $492,442.20 - $234,400
= $258,042.2
Total Interest paid by X is $258,042.2
Question c:
jeff jeffy answered 2 years agoRelated Solutions
Please show all work in order to get credit on an excel file. If you provide...
Please show all work in order to get credit on an excel file. If
you provide only the answers without showing your work, I will not
be able to provide any credit if your answer is wrong.
Petrus has an opportunity to make two investments, but he can
only afford to make one of them. Each one costs $ 25,000,000. The
first investment can be sold in 14 years for $ 98,500,000 and has
no periodic cash flow. The second...
Problem 1 (In order to get credit, show your work and you can copy the tables...
Problem 1 (In order to get credit, show your work and you can
copy the tables below into the answer box to fill in.)
Sugar Land Company is considering adding a new line to its product
mix, and the capital budgeting analysis is being conducted by a MBA
student. The production line would be set up in unused space in
Sugar Land’ main plant. Total cost of the machine is $260,000. The
machinery has an economic life of 4 years,...
Please show all calculations in MS Excel. No credit will be earned unless you show your...
Please show all calculations in MS Excel. No credit will be
earned unless you show your calculations.
Problem 1: CAPM: 5-Points:
If the risk-free rate is 0.0200, the return of the market is
0.1350, and the beta is 1.18, what is the required rate of return
of the stock using the CAPM equation? Please note that the return
of the market is not the same as the market risk premium.
Problem 2: Growth Rate: (Equation 9.11, page 373): 5-Points:
If...
PLEASE SHOW ALL WORK IN EXCEL!!!!!!! SHOW CALCULATIONS / FORMULAS IN EXCEL!!!!!!!! Voters arrive at a...
PLEASE SHOW ALL WORK IN EXCEL!!!!!!!
SHOW CALCULATIONS / FORMULAS IN
EXCEL!!!!!!!!
Voters arrive at a polling station at an average of 4 per minute
(Poisson) where the service rate is 50 per hour (Poisson).
a. What is the average number of voters in the system with 5
voter booths? (10 pts)
b. What is the minimum number of voting booths needed to keep
the average time in the system under three minutes? (10 pts)
PLEASE SHOW ALL WORK IN...
Using the data provided in the excel file, show all of your work for the following...
Using the data provided in the excel file, show all of your work
for the following calculations:
a.) mean temperature of unmixed reagents (oC)
b.) δελταT from graph (oC)
c.) q absorbed by reaction mixture (J)
d.) q absorbed by calorimeter, stirrer, and thermometer (J)
e.) q total absorbed (J)
f.) q total released (J)
g.) calculation to show limiting reagent
h.) deltaH neutralization for the reaction (kJ/mole of acid)
A student reacted
100.0 mL of 0.9800 M HCl with...
Please show all your work if you use the Calculator. If done in Excel, please send...
Please show all your work if you use the Calculator. If done in
Excel, please send me the spreadsheet / workbook.
What is the market value of the following bond?
Coupon 8%
Maturity date 2038
Interest paid semiannually
Par Value $1000
Market interest rate 10%
What is the market value of the following bond?
Coupon 9%
Maturity date 2028
Interest paid semiannually
Par Value $1000
Market interest rate 8%
What is the yield to maturity of the following bond?
Coupon...
Please solve all answers on Excel and show step by step how you get the WACC...
Please solve all answers on Excel and show step by step how you
get the WACC answer.
Tornado Motors is a major producer of sport and
utility trucks. It is a family owned company,
started by Jane Biscayne in 1935, at the height of the Great
Depression. Today the firm produces 3 lines
of trucks. These include a standard, no-frills short bed pickup
truck (Model A), a mid-size version
(Model B
)
and a larger, heavy-duty work truck (Model C)....
Note: All work must be shown, all answers simplified, in order to get credit. 1. Determine...
Note: All work must be shown, all answers simplified, in order
to get credit.
1. Determine the area/probability under the normal distribution
curve if:
a. ? = −2.04 1a. b. ? = 1.78 1b.
2. Determine the z-value associated with a probability of:
a. 0.9292 2a. b. 0.2327 2b.
3. Determine the z-values associated with the middle 72% of the
3. normal distribution.
4. Scores on a history test have an average of 80 with a
standard deviation of...
Please Use Excel To Show All Work, I will like your asnwer if you do this...
Please Use Excel To Show All Work, I will like your asnwer if
you do this :)
15.35 Refer to the Johnson Filtration problem introduced in this
section. Suppose that in addition to information on the number of
months since the machine was serviced and whether a mechanical or
an electrical repair was necessary, the managers obtained a list
showing which repairperson performed the service. The revised data
follow.
Repair Time in Hours
Months Since Last Service
Type of Repair...
Show all of your work in the space provided. Show all of your work to get...
Show all of your work in the
space provided. Show all of your work to get full credit. All
answers have to be in SI units(20 pints for each
questions).
2.Following are the two sets of
position and time data collected using a motion sensor and
cart.
Table 1. table 2
Time
(s)
Position
(m)
V(instantaneous)
(m/s)
0
10.0
0.25
13.0
0.50
16.5
0.75
21.0
1.00
26.5
1.25
32.3
1.50
38.0
1.75
44.5
2.00
52.0
2.25
60.0
2.50
68.5...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Procter & Gamble Embraces Continuous Planning and Execution The Procter & Gamble Company (P&G) is an...
- Explain what a project is amd how priject management can contribute to an organization. Briefly outline...
- Instructions: Each of the following scenarios illustrates one of Freud’s defense mechanisms from the list below....
- What are the SHDN, LNA in opamp What are the TXCO coding algorithm for binary and...
- Need to program a maze traversal program using dynamic array and stacks. The problem is faced...
- what were some of Ida B Wells significant contributions to the civil rights movement?
- In 2007, there were many people in Sri Lanka who have an opinion that the government...
ADVERTISEMENT