Finance

posted by .

you take out a $250,000, 30-year loan with monthly payments at a 6.5% interest rate. 4 years later, you refinance the remaaining balance at a 4% rate and pay a $1,000 fee. What is the present value of the savings from doing this?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. 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 …
  2. 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 …
  3. 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. …
  4. 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. …
  5. 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 …
  6. 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. …
  7. Finance

    You have been living in the house you bought 5 years ago for $300,000. At that time, you took out a loan for 80% of the house at a fixed rate 20-year loan at an annual stated rate of 9.0%. You have just paid off the 60th monthly payment. …
  8. Finance

    You have been living in the house you bought 6 years ago for $250,000. At that time, you took out a loan for 80% of the house at a fixed rate 25-year loan at an annual stated rate of 9.5%. You have just paid off the 72th monthly payment. …
  9. Finance

    You have been living in the house you bought 6 years ago for $250,000. At that time, you took out a loan for 80% of the house at a fixed rate 25-year loan at an annual stated rate of 9.5%. You have just paid off the 72th monthly payment. …
  10. Finance

    Could someone tell me how to calculate this in excel?

More Similar Questions