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?
A mortgage of $100,000 is amortized over 25 years using level
payments at the end of each quarter and the first interest payment
at the end of the first quarter is $2411.37. Calculate the 62nd
principal payment amount.
a. 1074.21
b. 1048.92
c. 1100.11
d. 1024.22
e. None of these answers
A mortgage is set up for $115000 and is amortized over 25 years
at 7.95% interest. Approximate the following payments:) a) monthly
b) semi-monthly c) weekly d) biweekly e) accelerated weekly
An $600,000 Mortgage is amortized by monthly payments over 25
years. The interest rate charged is 4% compounded
semi-annually.
1.What is the size of the monthly payment to the nearest
dollars?
2.How much interest paid in the first payment?
3.What is the outstanding balance after the first
payment?
A $425,000 mortgage with a 3-year term is amortized over 25
years at an interest rate of 8.2% compounded semi-annually. If
payments are made at the end of each month, determine the mortgage
balance at the end of the 3-year term.
The Grewals agreed to monthly payments on a mortgage of
$363,000.00 amortized over 25 years. Interest for the first five
years was 4.3% compounded semi-annually.
a. Determine the Grewals’ monthly payments.
b. Determine the balance owing after the 5-year term.
c. Before renewing for another term of 5 years at 4.5%
compounded semiannually, the Grewals make an additional payment of
$21,000. If they keep the same monthly payments, by how much will
the amortization period be shortened?
note; sir i...
You have just negotiated a 5 year mortgage on $100,000 amortized
over 25 years at a rate of 5%. After 5 years of payments, assume
that the mortgage rate remains the same, but you change your
monthly payment to $1500.
If you change your payment, how many more periods will it take
you to pay off the remaining loan balance?
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 just negotiated a 5-year mortgage on $400,000 amortized
over 25 years at a rate of 3.5%. After 5 years assume that the
mortgage rate remains the same, but you increase the payments by
500 dollars per month, in how many periods (months) will you be
able to pay the whole amount.
please show all steps for answer.
You have just negotiated a 5-year mortgage on $400,000 amortized
over 25 years at a rate of 3.5%. After 5 years assume that the
mortgage rate remains the same, but you increase the payments by
500 dollars per month, in how many periods (months) will you be
able to pay the whole amount. (Hint: Canadian banks quote mortgage
rates as a rate per year compounded semi-annually)
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...