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September 22, 2014

Search: 12. You have a loan for $150,000 at 5% on a 30-year mortgage. You plan to pay off your loan in 10 years. Do you want your loan to be figured using the Rule of 78 or the Unpaid Principle Balance Rule?

Number of results: 81,830

math
You have a loan for $150,000 at 5% on a 30-year mortgage. You plan to pay off your loan in 10 years. Do you want your loan to be figured using the Rule of 78 or the Unpaid Principle Balance Rule?
November 15, 2010 by Anonymous

Math
you have a loan for $150,000 @ 5% on a 30 yr mortgage. You plan to pay off your loan in 10 yrs, Do you want your loan to be figured using the "Rule of 78" or the "Unpaid Principal Balance Rule" please help if possible Thanks in advanced
May 27, 2012 by lost!!!! any other answer

Math
You have aloan for 150,000 at 5% on a 30 yr mortgage. You plan to pay off your loan in 10 yrs. Do you want your loan to be figured using the Rule of 78 or the Unpaid Principle Balance Rule or something else.
May 27, 2012 by John

finance
You take out a 25-year $210,000 mortgage loan with an APR of 12% and monthly payments. In 16 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?
November 20, 2012 by Anonymous

Finance
You take out a 30-year $100,000 mortgage loan with an APR of 6 percent 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?
May 10, 2008 by Anonymous

math
A borrower received a 30-year ARM mortgage loan for $120,000. Rate caps are 3/2/6 (first adjustment/subsequent adjustments/total over the life of the loan). The start rate was 3.50% and the loan adjusts every 12 months for the life of the mortgage. The index used for this ...
October 3, 2012 by mahagoni

Finance
You take out a 30 year $100000 mortgage loan with an apr of 6% and monthly payments. In 12 years you decide to sell your house and pay off the mortgage. What is the principle balance on the loan?
September 28, 2013 by Jessica

Finance
1. Mr. Kane recently borrowed $15,000 from his Aunt Jemima, and he has promised to pay his aunt $5,000 per year at 15%. How long will it take Mr. Kane to pay off the entire loan from his aunt? 2. You just borrowed $1,000 from Mr. Loan Shark. Mr. Shark requires you to pay $150 ...
July 3, 2009 by David

Finance
. Mr. Kane recently borrowed $15,000 from his Aunt Jemima, and he has promised to pay his aunt $5,000 per year at 15%. How long will it take Mr. Kane to pay off the entire loan from his aunt? 2. You just borrowed $1,000 from Mr. Loan Shark. Mr. Shark requires you to pay $150 ...
July 6, 2009 by David

Business Math
If Wilma borrows $5,000 from her brother (at 5% interest per year) and the loan matures in 10 years, how much will she have to pay annually to pay the loan off in 10 years? How much will she have to pay annually to pay the loan off in four years?
February 17, 2013 by Jordan

Mortgage Class
A borrower received a 30-year ARM mortgage loan for $120,000. The start rate was 3.50% and the loan adjusts every 12 months for the life of the mortgage. Rate caps are 3/2/6. The index used for this mortgage is the LIBOR. For this exercise, let’s say it was 3.00% at the start ...
May 3, 2012 by Pauline Holcomb

finance
You borrow $185,000 to buy a house. The mortgage rate is 6.5 percent and the loan period is 32 years. Payments are made monthly. If you pay the mortgage according to the loan agreement, how much total interest will you pay?
September 20, 2011 by chris

public finance
Your annual income is $50,000. You want to take out a mortgage loan to buy a house. The rule on mortgage loan requires that your annual mortgage payment cannot exceed 30% of your annual income. If the current interest rate is 5% for a 30-year mortgage loan, what is the maximum...
September 26, 2012 by Jamie

Loans
A borrower received a 30-year ARM mortgage loan for $120,000. Rate caps are 3/2/6 (first adjustment/subsequent adjustments/total over the life of the loan). The start rate was 3.50% and the loan adjusts every 12 months for the life of the mortgage. The index used for this ...
November 5, 2013 by Donna

Finance
You just borrowed $15,000 from a bank. If you pay $4,000 at the end of each year over the next 5 years, you will pay off the loan. What is the interest rate on the loan?
June 11, 2012 by Brian

SMU
You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80 percent of the $2,300,000 purchase price. The monthly payment on this loan will be $15,000. Therefore, the APR on this loan is
June 23, 2011 by MAX

Finance
You borrow $150,000 to purchase a new house. The bank offers you a special 20 year loan with a 7% interest rate and you will make annual payments. How large will each payment be? If you want to sell your house after 7 years, how much will you owe and need to pay to pay off the...
March 29, 2014 by Donald

Math
Suppose you wnat to purchase a house for 650,000. Hoe much of the loan would be left after 10 years if the interest rate was 3.8 % and it was a thirty year mortgage? And if you made the montly payments for ten years, and then increase your payment to 4000 per year, how many ...
November 2, 2013 by Kassie

Finance
You have just purchased a new warehouse. To finance the purchase, you have arranged for a 30-year mortgage loan for 80 percent of the $2,800,000 purchase price. The monthly payment on the loan will be $22,000. a. What is the effective annual rate (EAR) on this loan?
November 17, 2013 by lp

business math
you take out a loan for $20,000 simple interest loan at 4% on August 21 and in 45 days you pay off $8,000 of the loan. What is your new principal?
August 23, 2013 by Joyce

Finance
Consider the following scenario: John buys a house for $150,000 and takes out a five year adjustable rate mortgage with a beginning rate of 6%. He makes annual payments rather than monthly payments. Unfortunately for John, interest rates go up by 1% for each of the five years ...
October 22, 2010 by sweet

Finance
Consider the following scenario: John buys a house for $150,000 and takes out a five year adjustable rate mortgage with a beginning rate of 6%. He makes annual payments rather than monthly payments. Unfortunately for John, interest rates go up by 1% for each of the five years ...
October 23, 2010 by sweet

Maths
Mortgage company lets you pay a point (1% of total amount of loan)to reduce APR from 6.5% to 6.25% on a $400,000 30-yr mortgage with monthly payments. Plan to be in house for at least five years. Should you pay the point?
February 13, 2014 by Sejul

math
A flower shop owner wants to pay off the loan on a used delivery van that was purchased 11 months ago. The 2-year installment plan used to purchase the van included a $280 finance charge and called for payments of $230 monthly. What amount is needed to pay off the loan?
May 6, 2012 by Anonymous

math - interest rates
Car loan: 5-yr annual-payment loan with interest rate of 6% per year. Annual payment = $5,000. You have just made a payment and decided to pay the loan off by repaying the outstanding balance. a) what is payoff amount if you have owned the car for one year (so there are 4 ...
February 5, 2014 by Nabil - please help

Fiancial Management
You decide to purchase a building for $30,000, you put $5,000 down payment. The banks offers you a 15 yr mortgage requiring annual end of year payments of $3,188. The bank also requires you to pay a 3% loan originatio fee. Compare the annual % rate of interest on this loan.
August 3, 2008 by Tuty

Math
1.--Cody and Carolyn have a 20/7 balloon mortgage for $216,000 with a rate of 4.55%. How much will they pay in interest over the life of the loan? 2.--Sarah finances $549,000 with a 30/6 balloon mortgage at 5.35%. How much will she pay for principal and interest over the life ...
February 4, 2014 by Jamison

Finance
Sauerfood company has decided to buy a new computer system with an expected life of 3 yrs. the cost is 150,000.the comapny can borrow $150,000 for 3yrs at 10% annual interest or for one yr at 8% annual interest. How much wld sauer save in interest over the 3 yr life of the ...
November 8, 2010 by Nancy

math
what formula would i use to solve for this: Loan Interest A developer needs $80,000 to buy land. He is able to borrow the money at 10% per year compunded quarterly. How much will the interest amount to if he pays off the loan in 5yrs? You need a loan amortization table to ...
June 19, 2007 by student

math
Andy needs to pay off a loan of $18,000 in 5 years. Find the amortization payment he would need to make each bi-monthly pay period (twice a month) at 6% compounded bi-monthly, in order to pay off the loan.
December 3, 2013 by Lynda

Finance
You have arranged for a loan on your new car that will require the first payment today. The loan is for $32,000, and the monthly payments are $620. Required: If the loan will be paid off over the next 60 months, what is the APR of the loan?
February 19, 2014 by Alec

help please math
Andy needs to pay off a loan of $18,000 in 5 years. Find the amortization payment he would need to make each bi-monthly pay period (twice a month) at 6% compounded bi-monthly, in order to pay off the loan.
December 4, 2013 by dreamkatcher76

Math
Andy needs to pay off a loan of $18,000 in 5 years. Find the amortization payment he would need to make each semi-monthly pay period (twice a month)at 6% compounded bi-monthly, in order to pay off the loan.
April 17, 2014 by Maria

Math
Andy needs to pay off a loan of $18,000 in 5 years. Find the amortization payment he would need to take each semi-monthly pay period (twice a month) at 6% compounded bi-monthly, in order to pay off the loan.
April 22, 2014 by Mai

finance
You borrow $149,000 to buy a house. The mortgage rate is 7.5 percent and the loan period is 30 years. Payments are made monthly. If you pay for the house according to the loan agreement, how much total interest will you pay?
August 28, 2014 by solooloo

Economics
Engineering Economics Essay 1: You wish to purchase a home for $150,000 and you can put down 10% of this price as down payment. You can get a 20 year fixed rate mortgage loan for 6.0% with no points. You can optionally decide to pay 2 points to bring the mortgage rate down to ...
July 9, 2011 by Rashed Alhajri

business
Engineering Economics Essay Question: You wish to purchase a home for $150,000 and you can put down 10% of this price as down payment. You can get a 20 year fixed rate mortgage loan for 6.0% with no points. You can optionally decide to pay 2 points to bring the mortgage rate ...
July 9, 2011 by Rashed Alhajri

business finance
You have saved $15,000 for down payment on a car costing $55,000, and plan to finance the rest with a 5-year loan. The dealer is offering you a loan with a monthly payment of $1,050. What effective annual rate of interest is the dealer charging on the loan
February 23, 2014 by sakiss

engr. economics.
last year 92005-2006) you took out a a student loan for $12,000. this year (2006-2007), you got one for $11,000. Next year (2007-2008) you plan on borrowing $10,000. You won't take a long out the following year (2008-2009), and you graduate in 209, if you want to pay the loan ...
April 22, 2009 by Anonymous

Finance
You are considering borrowing $150,000 to purchase a new home. a. Calculate the monthly payment needed to amortize an 8 percent fixed-rate 30-year mortgage loan. b. Calculate the monthly amortization payment if the loan in (a) was for 15 years.
September 2, 2014 by YaYa

Finance
You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80 percent of the $2,800,000 purchase price. The monthly payment on this loan will be $17,000. What is the APR and ERA?
September 23, 2012 by Anonymous

math
Susan Borrowed $5000. The term of the loan is 12% compouned monthly for 3 years. what is the monthly payments? How much must she pay at the end of of 1 year to pay the balance off? How much did she save in interest by paying the loan off in one year??
April 1, 2013 by Rose

math
Five years ago, you bought a house for $151,000, with a downpayment of $30,000 which meant you took out a $121,000 loan. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. Escrow ...
May 18, 2012 by TAMMY

Economics
Calculate the total dollar amount paid for a house purchased for $200,000. The buyer paid $50,000 as down payment and the remaining $150,000 was obtained with a closed mortgage having a 25 year loan at 10% interest compounded semi-annually and a monthly payment period. Assume ...
June 24, 2013 by John

Fianance
Jake is looking at refinancing his mortgages and paying off his credit cards at the same time. Currently, his debt situation is as follows: First mortgage: 6%, 30 years due 20xx (15 years left) $269,238 Second mortgage: 8%, interest only due in 15 years $80,000 Credit cards: ...
May 5, 2014 by Stephanie

MATH
Five years ago, you bought a house for $151,000, with a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following information: Escrow ...
August 12, 2012 by TRAY

Math
Shantle and Kwamie are planning to buy their first home. Although they are excited about the prospect of being homeowners, they are also a little frightened. A mortgage payment for the next 30 years sounds like a huge commitment. They visited a few developments and scanned the...
July 9, 2014 by Chol

Business finance
In a discount interest loan, you pay the interest payment up front. For example, if a 1-year loan is stated as $10,000 and the interest rate is 10 percent, the borrower “pays” 0.10 x $10,000 = $1,000 immediately, thereby receiving net funds of $9,000 and repaying $10,000 in a...
January 10, 2011 by Bryan

finance
You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 25-year mortgage for 75 percent of the $3,600,000 purchase price. The monthly payment on this loan will be $17,700. What is the APR on this loan?
January 19, 2014 by Anonymous

math
Belle had the choice of taking out a four year car loan at 8.5% simple interest or a Five year loan at 7.75% simple interest. If she borrows $15,000, how much interest would she pay for each loan? Which option requires less interest?
September 8, 2014 by Ali

finance
You take out a 30- yr mortgage loan, purchase price is $120,000 put $20,000 down and finances the balance of $100,000 at fixed annual loan rate of 12%, what will be your monthly payment? How much total interest will you have paid at the end of 30 years?
May 4, 2012 by tj

Maths
Firm has a $500,000 loan with 9% APR (compounded monthly) Loan is 5-yr based on a 15-yr amortization, meaning loan payments will be calculated as if you take 15 years to pay off the loan, but actually must do so in 5 yr. To do this, you make 59 equal payments based on the 15-...
February 14, 2014 by Sushmitha - please help

Maths
Car loan interest rate is 7% loan payment $600 month 36 months left on loan If pay an addition $1000 with next regular $600 payment (due in a month), how much will it reduce the amount of time left to pay off the loan?
February 13, 2014 by Nabil

financial management
suppose you purchase a home for $150,000.and obtain a 90% mortgage loan, 30 yr. maturity, at a fixed annual interest rate of 80% with deferred monthly payments. What is the monthly payment for principal and interest on this loan?
January 13, 2008 by cj

algebra
How would you solve this math equation? this is really confusing to me. Ms.Martin was researching the costs of financing $125,000 for a home. She found that the monthly payment for a 6.875% loan for 30 years would be $821.16 per month. She found that the monthly payment for a ...
September 4, 2008 by Caleb

Mortgage payoff
How much would you have to pay each month (current payment is 603.97) to pay off a 30 year mortgage with a $32,000 balance in five years or fewer? Thanks
July 25, 2014 by Sharon

real estate finance
I need to find the mortgage loan amount and can't remember how to do it. The borrowers have a combined gross monthly income of $50,400. Sale price is $190,000 and buyers are able to obtain a 90% conventional FNMA/FHLMC loan at 4 3/4% for 30 years. The annual PMI premium is .46...
March 23, 2013 by tmouery

math
A man borrows $50,000 towards the cost of a house. Compound interest is charge on the loan at 125 per annum. He agrees to pay back the loan in 25 equal installments, at yearly intervals, the first repayment being made exactly 1 year after the loan is taken out. Calculate the ...
February 13, 2011 by jen

math
Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of each loan after 10 years
January 19, 2012 by Emma

finance mortgage payment
What is your monthly mortgage payment on a loan for $150,000, at 6% for 20 years? I used my TI-83.... N=20*12 I%=6%/12 PV=150,000 PMT=0 FV=0 PMT=-1074.646 FINAL ANSWER IS ...$1074.65 per month the negative sign represents a cash outflow
July 25, 2008 by Jason

math
Loan #1 Year Amount owed 1 $3796 2 $3942 3 $4088 Loan # 2 Year Amount owed 1 $977.53 2 $1036.18 3 1098.35 For loan #1 is simple interest. Loan #2 is compound interest How much was each loan originally Determine the future value of each loan after 10 years No one has answered ...
January 19, 2012 by Annie

Algebra: Statistics
Five years ago, you bought a house for $151,000, with a down payment of $30, 000, which meant you took out a loan for $121,000. Your interest rate was 5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. ...
December 14, 2011 by Pamela

Finance
you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...
March 19, 2013 by Miller

Finance
you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...
March 19, 2013 by Miller

Finance
you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...
March 19, 2013 by Miller

Finance
you have contacted a number of dearlerships to determine the best interest rate on a new car loan, dealship quoted a 5 year, 10% loan in the amount of $35,000 that will require monthly payments. What is the monthly loan payment. And what will the loan effective annual interest...
March 19, 2013 by Miller

Real Estate Financing
"Mr. Smith acquired a property consisting of one acre of land and a two-story building five years ago for $100,000. He also obtained an $80,000 mortgage loan from ACE Bank to provide financing to complete the purchase. This year, Mr. Smith constructed another building on the ...
June 28, 2012 by Tianna

math
Jill Ley took out a loan to pay for her child's education for $60,000 the loan wouls be repaid at the end of 8 years in one payment with an interest of 6 percent the total amount Jill has to pay back at the end of the loan is.
September 23, 2011 by delia

algebra
Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. ...
August 9, 2011 by t

math
Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. ...
November 11, 2011 by Gretta

math
Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. ...
November 11, 2011 by tiana

business math
Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is:
December 26, 2011 by Anonymous

math
Jill Ley took out a loan to pay for her child's education for $60,000. The loan would be repaid at the end of 8 years in one payment with an interest of 6 percent. The total amount Jill has to pay back at the end of the loan is: (Points : 1)
March 18, 2013 by Laura

finance
You have been living in the house you bought 10 years ago for $300,000. At that time, you took out a loan for 80% of the house at a fixed rate 15-year loan at an annual stated rate of 9%. You have just paid off the 120th monthly payment. Interest rates have meanwhile dropped ...
February 5, 2013 by Anonymous

MATH
IF LOAN BALANCE IS 34,000.00 AND YOU PAY $597.21 MONTHLY AT 7.50 INTEREST HOW MUCH TIME WILL YOU CUT OFF TERM OF LOAN IF YOU ADD 100.00 TO MONTHLY PAYMENT
March 26, 2013 by LILLY

Math
hollis is paying off 2 student loans. One loan charges 7% interest, per year. The other loan charges 9 % interest per year. He owes $1500 more on the 7% loan than he does on the other. Last year he paid a total of $617.00 in interest. what does he owe on each loan what is 2,...
April 8, 2007 by Edward

Algebra
Financial Project Five years ago, you bought a house for $171,000. You had a down payment of $35,000, which meant you took out a loan for $136,000. Your interest rate was $5.6% fixed. You would like to pay more on your loan. You check your bank statement and find the following...
November 9, 2011 by Torra

Finance
(15 points) You have been living in the house you bought 10 years ago for $300,000. At that time, you took out a loan for 80% of the house at a fixed rate 15-year loan at an annual stated rate of 9%. You have just paid off the 120th monthly payment. Interest rates have ...
October 24, 2013 by Anonymous

math
jamie tookout $3000 loan, due in 4 years. if interset is 5.7% per year, compounded semi-annualy how much should jamies crediter be willing to except to pay off the loan today?
May 15, 2012 by miechelle

Real Estate
Smith purchases a home and obtains a $65,000 loan. The principal and interest payments are $8.54 per $1,000. The loan is for 30 years at 9%. How much does Smith pay in total interest over the life of the loan?
December 22, 2010 by Shayla

Can someone show me the right direction
Find the monthly payment for the loan. (Round your answer to the nearest cent.) Finance $850,000 for a warehouse with a 11.50% 30-year loan. $850,000x.1150 I don't know if I x or divide. the 30 year loan Thank you.
May 13, 2014 by Mary Ann

MATH
FreddieMac reports that the average rate on a 30-year fixed rate mortgage is 3.92% as of January 2012. This is down from 4.76% in January 2011 and 5.03% in January 2010. If you have a $225,000, 5%, 30-year mortgage, how much interest will you save if you refinance your loan at...
November 12, 2013 by WONDA

Corporate law
At a closing at 10 a.m. on May 3, 2005, X Corp. delivers $25,000,000 to the seller of a factory using $20,000,000 from Bank One secured by a mortgage on the property, and the attorney for X Corp. records its title to the property at the same time. At 2 p.m. the same day, X ...
November 21, 2012 by rachel

business
. George Wilkins checked the spreadsheet where he keeps track of his assets and liabilities. He discovered that (i) he owes $80,000 on his house, which he believes to be worth $150,000; (ii) his car is worth $20,000, against which there is $2,000 on the remaining bank loan; (...
April 17, 2011 by Susana

Loan
Borrower Brown borrowed $8,000 from the bank. He will pay 6% simple interest on the remaining balance of the loan in semi-annual equal PRINCIPAL payments for four years. How much total interest will Borrower Brown pay over the life of his loan?
October 29, 2012 by Renee

Finance
To find the simple interest on a loan for 1 year at 12.5%, multiply the amount of the loan by 0.125. What simple interest will you pay on a loan of $1,458 at 12.5% for 1 year?
November 24, 2009 by landi

algebra
50. Steve borrows $4,800 from his parents to purchase a used car. No interest is charged on the loan and Steve will pay his parents $150 per month until the loan is paid off. (a)Write a function that describes the relationship between the amount Steve owes his parents and the ...
January 2, 2014 by Mike

eco
Suppose a person pays $80 of annual interest on a loan that has a 5 percent annual interest rate. The loan amount is: A. $400. B. $1,600. C. $160. D. $85. 10. Suppose a loan customer is considering two alternative $22,000 loans. Loan 1 requires payment of $1,100 of interest ...
May 26, 2011 by matt

math
76% of all clients who apply for SBA loan are approved for the loan. Of the clients who are approved 84% pay the loan back in full. If 5,000 clients applied for the SBA loan 10 years ago, how many of them paid the loan back in full?
May 13, 2011 by derrius

PreCalc
Rebecca and Tom Payton have decided to buy a home that costs $200,000. The Paytons can put down 20% of the home's price. They have applied for a 15-year, 9% FRM to finance the balance. They Paytons have a combined gross annual income of $70,000. How much will the Paytons pay ...
August 23, 2010 by Anonymous

accountancy
You have been living in the house you bought 10 years ago for $500,000. At that time, you took out a loan for 80% of the house at a fixed rate 30-year loan at an annual stated rate of 6%. You have just paid off the 120th monthly payment. Interest rates have meanwhile dropped ...
September 30, 2012 by rebecca potts

math
What is your monthly mortgage payment on a loan for $150,000, at 6% for 20 years? $899.33 $1,265.79 $1,074.65 $1,089.91
July 24, 2008 by brittany

Finance
You take out a 30-year $100,000 mortgage loan with an APR of 6 percent 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? I am working this on the assumption that your monthly rate is .005. First...
March 18, 2007 by Antoinette

Math
4. Vanna has just financed the purchase of a home for $200 000. She agreed to repay the loan by making equal monthly blended payments of $3000 each at 9%/a, compounded monthly. c. How long will it take to repay the loan? d. How much will be the final payment? e. Determine how ...
January 17, 2011 by Michelle

business math
Dick Hercher borrowed $7,000 to travel to London. His loan is to be paid in 48months monthly installments of $190. at the end of 14 months, Dick ddecides to pay off his loan. What is the final payoff Dick will make?
August 31, 2012 by tracie

math for business and finance
dick hercher borrowed $7,000 to travel to london. his loan is to be paid in 48 monthly installments of $190. at the end of 14 months, dick decides to pay off his loan. what is the final payoff dick will make?
January 8, 2013 by barbara

finance
John borrows $150,000. The terms of the loan are 7.5% over the next 5 years. It is important to note that he makes annual rather than monthly payments. Construct a loan amortization schedule that shows the 5 payments of John's loan.
October 22, 2010 by sweet

math
You'd also need to know the interest rate, the amount of the monthly payments, and how long you'll have to pay off the loan. The shorter period of time for the loan, the less you'll pay in interest, but the monthly payments will be higher. What factors are the most important ...
June 20, 2007 by Ms. Sue

Math and Society
You can afford monthly payments of $1200. If current mortgage rates are 7.5% for a 30-year fixed rate loan, what loan principal can you afford? If you are required to make a 20% down payment and you have cash on hand to do it, what price home can you afford?
November 8, 2008 by Michele

Finance
Five years ago, you bought a house for $151,000. You had a down payment of $30,000, which meant you took out a loan for $121,000. Your interest rate was $5.75% fixed. You would like to pay more on your loan. You check your bank statement and find the following information. ...
November 12, 2011 by Taccara

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