managerical finance

posted by .

You want to purchase a new condominium which costs $329,000. Your plan is to pay 20 percent down in cash and finance the balance over 25 years at 6.25 percent. What will be your monthly mortgage payment?

  • managerical finance -

    you will finance 80% of 329000 = 263200

    just plug that into your amortization formula.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. finance mortgage payment

    Purchase a home for $160,000. I intend to put down 20% and finance the remainder over 15 years at 6 3/8% interest. If my taxes & insurance totals $3,600 per year, how much will my total monthly payment be?
  2. Math

    If you finance $50,000 of the purchase of your new home at 4.40% compounded monthly for 30 years, the monthly payment will be $250.38. If instead your had a rate of 4.80% compounded monthly for 15 years, the monthly payment will be …
  3. Finance

    Say that you purchase a house for $270,000 by getting a mortgage for $235,000 and paying a $35,000 down payment. If you get a 15-year mortgage with a 8 percent interest rate, what are the monthly payments?
  4. 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?
  5. 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 …
  6. 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?
  7. 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 …
  8. Finance

    Audrey Sanborn has just arranged to purchase a $550,000 vacation home in the Bahamas with a 20 percent down payment. The mortgage has a 6.1 percent stated annual interest rate, compounded monthly, and calls for equal monthly payments …
  9. finance

    You want to purchase a car. It costs 25,000. You have 3,000 that you have saved up for a down payment. You can go with the 5 year car and 60 month car loan. The car manufacture is offering a special deal on your car. You can get zero …
  10. Finance

    You want to purchase a new condominium that costs $287,500. Your plan is to pay 25 percent down in cash and finance the balance over 15 years at 3.75 percent. What will be your monthly mortgage payment including principal and interest?

More Similar Questions