# 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

48,720 results
1. ## Math/Finance

Jasmine is taking out a small business loan for her floral shop. She plans to apply for a \$30,000 loan with a 5-year term and a 3.75% interest rate. She is unsure of her expected monthly profits, so she wants to know the benefit of a smaller loan. Using

2. ## math

Case: 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 (for this exercise, 3.00% at the

3. ## Finance: Mortgages

A borrower received a 30-year 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 life of the mortgage. The

4. ## MATH

Jasmine is taking out a small business loan for her floral shop. She plans to apply for a \$30,000 loan with a 5-year term and a 3.75% interest rate. She is unsure of her expected monthly profits, so she wants to know the benefit of a smaller loan. Using

5. ## Mortgage ARM 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 (for this exercise, 3.00% at the start

6. ## Financial

You need a 30-year, fixed-rate 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 360-month loan. However, you can afford monthly payments of only \$925, so you offer to pay off any

7. ## 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

8. ## 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 exercise is 3% at the start

9. ## 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?

10. ## Math

You borrow \$3200 to buy new kitchen appliances. The simple interest rate is 5%. You pay the loan off after 4 years. What is the total amount you paid for the loan? \$___

11. ## 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.

12. ## 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 over the next 30

13. ## Math

A borrower received a 30-year 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 life of the mortgage. The

14. ## math

You borrow \$10,000 to buy a car. The simple interest rate is 3%. You pay the loan off after 6 years. What is the total amount you paid for the loan? please and thank you

15. ## 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

16. ## 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

17. ## fianance

3. You decide to borrow \$200,000 to build a new house. The bank charges an interest rate of 6% compounded monthly. If you pay the loan back over 30 years, what will your monthly payment be [rounded to the nearest dollar]?

18. ## Math

Sarah secured a bank loan of \$155,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. She plans to sell her house in 5

19. ## math

Jon Ericson bought a home with a 11.5% adjustable rate mortgage for 20 years. He paid \$10.67 monthly per thousand on his original loan. At the end of 2 years he owes the bank \$50,000. Now that interest rates have gone up to 13%, the bank will renew the

20. ## 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?

21. ## accounting

House mortgage You have just purchased a house and have obtained a 30-year, \$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 balance after

22. ## 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?

Shantel 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 new

24. ## Financial math

A couple wants to lend money using the house value as a cover. The lender will lend them 70% of the value of the house. The couple bought the house 12 years ago for \$ 79,000. The house is financed by a deposit of 20% and a mortgage loan at 30 years and 12%

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

26. ## 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

27. ## consumer math grade 12

jesse buys a 150 000 house and will make a 30 000 down payment the bank will charge him an interest rate of 5% with the mortgage amoritized over 15 years determine the monthly mortgage payment

28. ## Finite Math

The Turners have purchased a house for \$160,000. They made an initial down payment of \$40,000 and secured a mortgage with interest charged at the rate of 9%/year compounded monthly on the unpaid balance. The loan is to be amortized over 30 yr. (Round your

29. ## real estate finance

Evan is borrowing \$130,000 to buy a home priced at \$144,500, and wants to do a permanent buy-down on his interest rate. His loan officer informs him the buy-down will cost 3 1/2 points to reduce his rate from 5 1/2% to 5%. How much will Evan have to pay at

30. ## macroeconomics

Suppose you borrow \$900 of principal that must be repaid at the end of two years, along with interest of 5 percent a year. If the annual inflation rate turns out to be 10 percent, (a) What is the real rate of interest on the loan?

31. ## 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?

32. ## 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

33. ## accounting

You have just purchased a house and have obtained a 30-year, \$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 balance after one year? c.

34. ## Finance

Say that you purchase a house for \$150,000 by getting a mortgage for \$135,000 and paying a \$15,000 down payment. Assume you get a 15-year mortgage with a 6 percent interest rate. If the house appreciates at a 2 percent rate per year, what will be the value

35. ## public finance

If the current interest rate is 5% for a 30-year mortgage loan, what is the maximum amount one can borrow for a house?

36. ## Finance

Could someone tell me how to calculate this in excel? You are applying for a 30-year, fixed-rate (APR 6.50%), monthly-payment-required mortgage loan for a house that sells for \$80,000 today. The mortgage bank will ask you for 20% initial down payment (in

37. ## 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

38. ## 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?

39. ## Fin

Midland Chemical Co is negotiating a loan from Manhattan Bank and Trust. The small chemical company needs to borrow \$500,000. The bank offers a rate of 8¼ percent with a 20 percent compensating balance requirement, or as an alternative, 9¾ percent with

40. ## loans

A borrower received a 30-year 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 life of the mortgage. The

41. ## 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

42. ## 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

43. ## 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

44. ## Finance

Can anyone explain to me how to use this formula? Cost of failing to take a cash discount Disc  ount percent 100 percent Discount percent 3   60 Final due date  Discount period I am trying to calculate Assume the proceeds from the loan with the

45. ## 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

46. ## 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

47. ## 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?

48. ## Finance

Here's another way to look at it. Suppose you want to borrow \$100,000. You choose a 30-year fixed rate loan at 7.5%, and pay one discount point (\$1,000), a 1% origination fee (\$1,000), and \$350 in other fees. Although the lender is giving you a loan for

49. ## Finance

midland chemcial is negotating a loan from manhattan bank and trust. the small chemical company needs to borrow 500,000. the bank offers a rate of 81/4 percent with a 20 percent compensating balance requirement, or as an alternative, 93/4 percent with

50. ## Foundations of Financial Management

here is the problem The small chemical company needs to borrow \$500,000. The bank offers a rate of 8 1/4 percent with a 20 percent compensating balance requirement, or as an alternative, 9 3/4 percent with additional fees of \$5,500 to cover services the

You want to buy a small house that costs RM100,000. You have RM10,000 for a down payment and repaid in equal installments at the end of each of the next 3 years. The interest rate is 7 percent compounded annually. a. Calculate how much you need to pay for

52. ## Math

The Washingtons buy a \$260,000 home by putting 20% down and financing the balance with a 30-year fixed-rate 4.2% mortgage, compounded monthly. What is the amount of their monthly loan payment to amortize the loan?

53. ## maths

If I borrow RM 100,000 to buy a house and I have to pay RM 3000 a month into an account that charges 5 % p.a compounded monthly, how many payments are needed to fully settle the loan?

54. ## Math

You need to borrow \$20,000 to buy a car. You can only afford to make monthly payments of \$200. The bank offers 3 choices: 3-year loan at 5%, 4-year loan at 6%, and a 5-year loan at 7%. a) What’s the monthly payment for each loan? b) Which loan is best

55. ## MATH

Dave takes out a 24-year mortgage of 210,000 dollars for his new house. Dave gets an interest rate of 13.2 present compounded monthly. He agreed to make equal monthly payment, the first coming in one month. After making the 68th payment, Dave wants to buy

56. ## Algebra

A woman wants to borrow \$11,000 in order to buy a car. She wants to repay the loan by monthly installments for 5 years. If the interest rate on this loan is 7 1/2% per year, compounded monthly, what is the amount of each payment? (Round your answer to the

57. ## 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

58. ## 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

59. ## 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

60. ## Finance

A mortgage broker is offering a \$225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5 percent APR interest rate. After the second year, the mortgage interest rate charged

61. ## 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

62. ## Math

You have a \$200,000 mortgage. You have had the house for one year. The rate is 7.5% fixed for 30 years. Rates have come down and you are thinking of refinancing at the new rate of 6%. 1) What is your mortgage payment and interest on your current mortgage?

63. ## Math

Sarah secured a bank loan of \$200,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 yr, with interest rate of 6%/year compounded monthly on the unpaid balance. She plans to sell her house in 5 yr.

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

65. ## 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

66. ## 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?

67. ## Math

Dave takes out a 23-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 13.2 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 65th payment, Dave wants to buy

68. ## Maths

Dave takes out a 27-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 14.4 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 70th payment, Dave wants to buy

69. ## Finance

Dave takes out a 30-year mortgage of 200000 dollars for his new house. Dave gets an interest rate of 16.8 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 68th payment, Dave wants to buy

70. ## 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

71. ## 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?

72. ## Math

Dave takes out a 24-year mortgage of 290000 dollars for his new house. Dave gets an interest rate of 14.4 percent compounded monthly. He agrees to make equal monthly payments, the first coming in one month. After making the 68th payment, Dave wants to buy

73. ## finance

You want to buy an apartment priced at \$300,000. You have saved a deposit of \$30,000. The bank has agreed to lend you the \$270,000 as a fully amortising loan with a term of 25 years. The interest rate is 12% pa and is not expected to change. What will be

74. ## 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

75. ## math

Suppose you borrow \$1,000 of principal that must be repaid at the end of two years, along with interest of 5 percent a year. If the annual inflation rate turns out to be 10 percent, (a) What is the real rate of interest on the loan? For this I got -5%. (b)

76. ## f

You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 35-year mortgage for 85 percent of the \$3,100,000 purchase price. The monthly payment on this loan will be \$17,200. What is the APR on this loan? What is the EAR on

77. ## 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?

78. ## 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

79. ## Math

Q: A coule borrow Rs. 10,000 to buy a car. The loan agreement specifies that monthly payements are to be made for 4 years. The annual inttrest rate is 10%. Determine the monthly payments?

80. ## Math

You have a \$250,000 mortgage. The 30- year fixed rate is 8.5%. You have had your house for ten years. You have 20 years remaining on your mortgage. The new 15-year mortgage rate is 5.5%. 1) What is your mortgage payment, principal and interest on your

81. ## Finance Math

Quicken Loans reports a 30-year fixed rate mortgage at 4.9%, a 20-year mortgage at 4.75% and a and a 15-year mortgage at 4.50%. If you want to finance a \$218,000 home, how much interest will you save if you refinance your loan for 15 years compared to 30

82. ## Math

A 30 year fixed rate \$100,000 mortgage loan . The interest rate is 7.5% compounded monthly.After 20 years the bank is making an offer to refinance at a lower rate of 4.5% . The estimated closing costs are \$3,000?

83. ## 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

84. ## macro

Suppose you were borrowing money to buy a car. Which of these situations would you prefer:The interest rate on your car loan is 20 percent and the inflation rate is 19 percent or the interest rate on your car loan is 5 percent and the inflation rate is 2

85. ## macroeconomics

Suppose you were borrowing money to buy a car. Which of these situations would you prefer:The interest rate on your car loan is 20 percent and the inflation rate is 19 percent or the interest rate on your car loan is 5 percent and the inflation rate is 2

86. ## English

I need to know whether I have at least five adjectives and five adverbs in this paragraph. I am really struggling with this. I understand what adverbs and adjectives are, I am just having trouble writing a paragraph where I have to insert them! One of the

87. ## uno

You decide to borrow \$200,000 to build a new house. The bank charges an interest rate of 6% compounded monthly. If you pay the loan back over 30 years, what will your monthly payment be [rounded to the nearest dollar]?

88. ## finance

3. You decide to borrow \$200,000 to build a new house. The bank charges an interest rate of 6% compounded monthly. If you pay the loan back over 30 years, what will your monthly payment be [rounded to the nearest dollar]?

89. ## finance

3. You decide to borrow \$200,000 to build a new house. The bank charges an interest rate of 6% compounded monthly. If you pay the loan back over 30 years, what will your monthly payment be [rounded to the nearest dollar]?

90. ## 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?

91. ## finance

You have only saved 2,000. You are going to trade in your old car and get a new one. The dealership has offered you 3,000 for your trade, and you have accepted their offer. The car you want to buy costs 23,000 but you talked them down to 21,000. The

92. ## math

Compute the hurdle rate above based on the following.1. Note payable bank \$2,000,000.00 with rate of 7.5%, The company has a tax rate of 30%.2. Bank Mortgage Loan \$1,000,000.00 with rate of 6% The company has a tax rate of 30%.3. Preferred stock

93. ## Finance 101

Given the recent drop in mortgage interest rates, you have decided to refinance your home. Exactly five years ago, you obtained a \$150,000 30-year mortgage with a fixed rate of 10%. Today, you can get a 30-year loan for the currently outstanding loan

94. ## math

Q: A couple borrow rs.10,000 to buy a car. The loan agreement specifies that monthly payement are to be made for 4 years. The annual interst rate is 10%. Determine the monthly payement?

95. ## 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

96. ## 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. Interest rates

97. ## 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

98. ## 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. Interest rates

99. ## 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.

100. ## math

A couple can afford to make a monthly mortgage payment of \$850. If the mortgage rate is 2% and the couple intends to secure a 30-year mortgage, how much can they borrow? (Round your answer to the nearest cent.)