Your mortgage has 21 years left, and has an APR of 8.707% with monthly payments of $1,449.a. What is the outstanding balance?b. Suppose you cannot make the mortgage payment and you are in danger of losing your house to foreclosure. The bank has offered to renegotiate your loan. The bank expects to get $125,507 for the house if it forecloses. They will lower your payment aslong as they will receive at least this amount (in present value terms). If current 21-year mortgage interest rates have dropped to 5.660% (APR), what is the lowest monthly payment you could make for the remaining life of your loan that would be attractive tothe bank?a. What is the outstanding balance?The outstanding balance is $(Round to the nearest cent.)

The mortgage loans are to be paid by the monthly payments and these monthly payments carry the…

norigage has 21 years left, and has an APR of 8.707% Withn montniy payments of $1,449. at is the outstanding balance? opose you cannot make the mortgage payment and you are in danger of losing your house to foreclosure. The bank has offered to renegotiate your loan. The bank expects to get $125,507 for the house if it forecloses. They will lower your s they will receive at least this amount unk? present value terms). If current 21-year mortgage interest rates have dropped to 5.660% (APR), what is the lowest monthly payment you could make for the remaining life of your loan that would at is the outstanding balance? utstanding balance is S. (Round to the nearest cent.)

norigage has 21 years left, and has an APR of 8.707% Withn montniy payments of $1,449. at is the outstanding balance? opose you cannot make the mortgage payment and you are in danger of losing your house to foreclosure. The bank has offered to renegotiate your loan. The bank expects to get $125,507 for the house if it forecloses. They will lower your s they will receive at least this amount unk? present value terms). If current 21-year mortgage interest rates have dropped to 5.660% (APR), what is the lowest monthly payment you could make for the remaining life of your loan that would at is the outstanding balance? utstanding balance is S. (Round to the nearest cent.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Your mortgage has 24 years left, and has an APR of 6.303% with monthly payments of $1,449. a. What is the outstanding balance? b. Suppose you cannot make the mortgage payment and you are in danger of losing your house to foreclosure. The bank has offered to renegotiate your loan. The bank expects to get $161,182 for the house if it forecloses. They will lower your payment as long as they will receive at least this amount (in present value terms). If current 24-year mortgage interest rates have dropped to 4.097% (APR), what is the lowest monthly payment you could make for the remaining life of your loan that would be attractive to the bank? a. What is the outstanding balance? The outstanding balance is $______________ (Round to the nearest cent.) b. Suppose you cannot make the mortgage payment and you are in danger of losing your house to foreclosure. The bank has offered to renegotiate your loan. The bank expects to get $161,182 for the house if it forecloses.…
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You are in financial trouble and are delinquent on your mortgage payment.Your bank has agreed to a repayment schedule of $1,000 per month, and it will charge 0.5% per month interest on the outstanding balance. If the current outstanding balance is $300,000, how long will it take for you to pay off the loan?
You have a loan outstanding. It requires making seven annual payments of $6,000 each at the end of the next seven years. Your bank has offered to allow you to skip making the next six payments in lieu of making one large payment at the end of the loan's term in seven years. If the interest rate on the loan is 3%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is S (Round to the nearest dollar.) ng hfirm is link
Problem: Jino sold his house. In addition to cash, he took a mortgage on the house. The mortgage will be paid off by monthly payments of P12, 345 for 10 years. He decided to sell the mortgage to a local bank. The bank will buy the mortgage, but requires a 1% per month interest rate on their investment. How much will the bank pay for the mortgage?
You have a loan outstanding. It requires making seven annual payments of $6,000 each at the end of the next seven years. Your bank has offered to allow you to skip making the next six payments in lieu of making one large payment at the end of the loan's term in seven years. If the interest rate on the loan is 6%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is $ (Round to the nearest cent.)
You have a loan outstanding. It requires making three annual payments of $7,000 each at the end of the next three years. Your bank has offered to allow you to skip making the next two payments in lieu of making one large payment at the end of the loan's term in three years. If the interest rate on the loan is 3%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is $ (Round to the nearest dollar.) Enter your answer in the answer box and then click Check Answer.
You have a loan outstanding. It requires making three annual payments of $8,000 each at the end of the next three years. Your bank has offered to allow you to skip making the next two payments in lieu of making one large payment at the end of the loan's term in three years. If the interest rate on the loan is 5%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is $ (Round to the nearest dollar.)
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