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Finance: Mortgages
A borrower received a 30year ARM mortgage loan for $200,000. Rate caps are 3/2/6 (initial adjustment cap/periodic interest rate cap/lifetime interest rate cap). The start rate is 3.50% and the loan adjusts every 12 months for the
asked by Cara on March 30, 2016 
MATH
a borrower received a 30 year ARM mortgage loan for 200,000. Rate caps are 3/2/6 the start rate is 3.50% AND the loan adjusts every 12 months for the life of the mortgage, The index used for this mortgage is LIBOR which for this
asked by lAURA on May 19, 2018 
math
Case: A borrower received a 30year ARM mortgage loan for $200,000. Rate caps are 3/2/6. The start rate is 3.50% and the loan adjusts every 12 months for the life of the mortgage. The index used for this mortgage is LIBOR (for
asked by jim on May 7, 2020 
FINANCE
You have just purchased a new warehouse. To finance the purchase, youâ€™ve arranged for a 35year mortgage loan for 75 percent of the $3,250,000 purchase price. The monthly payment on this loan will be $15,800. Requirement 1: What
asked by KATE on February 28, 2016

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?
asked by solooloo on August 28, 2014 
Finite Math
Five years ago, Diane secured a bank loan of $370,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 10% per year compounded monthly on the
asked by Micaela on December 6, 2018 
Finance
You are considering borrowing $150,000 to purchase a new home. a. Calculate the monthly payment needed to amortize an 8 percent fixedrate 30year mortgage loan. b. Calculate the monthly amortization payment if the loan in (a) was
asked by YaYa on September 2, 2014 
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
asked by Anonymous on August 31, 2016

Financial
You need a 30year, fixedrate mortgage to buy a new home for $235,000. Your mortgage bank will lend you the money at an APR of 5.35 percent for this 360month loan. However, you can afford monthly payments of only $925, so you
asked by Wawa on November 6, 2018 
Finance
Loan Payments  If you take out an $8,000 car loan that calls for 48 monthly payments APR of 10 percent, what is your monthly payment? What is the effecgive annual interest rate on the loan? the montly rate is 0.10/12=.0083333...
asked by Antoinette on March 18, 2007 
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
asked by Alec on February 19, 2014 
accounting
You have just purchased a house and have obtained a 30year, $200,000 mortgage with an interest rate of 10 percent. Required: a. what is your annual payment? b. Assuming you bought the house on Jan. 1st, what is the principle
asked by scotty on July 11, 2012
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