A savings and loan charges 2.075 points for a home buyer to obtain a loan of $255,000. To calculate the discount points, what value should be multiplied by the loan amount? Also, calculate the discount points.

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: Formula: Finance charge = Amount financed x add on interest x ( 30 / 12 ) Monthly payment = [ (…

Q: The lender charges three points to get the mortgage. How much do the points cost you?

A: Solution Calculated the points cost   Cost of one unit Home       = $200000 Less:25% Down…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A:

Q: Suppose your bank’s loan officer tells you that if you take out a mortgage (i.e., you   borrow…

A: A short sale in terms of real estate is one in which a house is sold for a price that is less than…

Q: Angela has a Macy’s credit card. The card has a balance of $2088.74 with an APR of 28.99%. Macy’s…

A: Card Balance is $2088.74 APR is 28.99% Minimum payment rate is 3.9%   To Find: Minimum Payment…

Q: Раyment (4.34% paid Раymer paid (2.74% interest) interest) $29,000 automobile with 10% deposit Total…

A: Cost of automobile = $29,000 where  There is a deposit of 10% or $12,000 Assumed: Loan is taken for…

Q: suppose that you decide to borrow $15,000 for a new car. you can select one of the following loans,…

A: a.Loan ALoan Amount (pv) = $15,000Interest Rate (rate) = 5.9%Time Period = 3 YearsNumber of Payments…

Q: rate

A: Introduction: Simple interest can be defined as interest which is computed from the principal loan…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: We need to use sum of digit method for calculation of rebate fraction. The formula is  Sum of digit…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: An installment loan with a $4,600 principal balance is being paid off early after 33 payments out of…

Q: calculate the monthly principal and interest, PI (in $),

A: Re-payment of loan consist of payment of principal and interest. Annuity is the payment of fixed…

Q: Suppose a person has a total credit card debt of $1.375 that has a 12% yearly interest rate. This…

A: Interest rate on savings provides the earnings to the investors while interest rate on credit card…

Q: are the loan department supervisor ban Being paid task to calculate the rebate fraction, the finance…

A: Given information : Amount financed = $4,700 Number of payments = 36 Monthly payment = $165.33…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Interest Rate = 6% APR Previous Balance = $1,173 Calculation of Number of days between is as follow:…

Q: need help with this question

A: Loan to value ratio is 80% and the cost of the house is $ 80,000.Thus loan amount = 80% * $ 80,000=…

Q: For the following loan, find (a) the finance charge and (b) the APR. Use the accompanying table to…

A: Finance charge = ( Monthly payment * Number of periods) - Amount of finance.Finance charge per $ 100…

Q: Paige is planning on depositing $1,000 in one of two different savings accounts from two financial…

A: Annual percentage rate (APR) refers to the stated interest rate or the nominal rate that is being…

Q: Consider a $5,000, 6%, 180-day interest-bearing note and a non-interest- pearing note for the same…

A: Note means an instrument acknowledging as debt due from one party to another party. Interest bearing…

Q: Big Dom’s Pawn Shop charges an interest rate of 20 percent per month on loans to its customers. Like…

A: APR = given monthly rate * 12 months

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: Rebate is the amount that is given to the lender in lieu of the interest foregone by the lender on…

Q: Suppose that a monthly net income is $3,340. Your monthly debt payments include your student loan…

A: Debt to Income Ratio tells us the percentage of income that goes towards payment for rent , mortgage…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: Amount financed (F) = $4700 Number of payments = 36 Payments made = 33 Remaining payments = 3…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: Loan amount = $4,700Number of payments = 36Monthly payments = $167.33Payments made = 26To find:…

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: Rebate refers to the amount returned by the government to an individual after the payment of a…

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A:

Q: You are the loan department supervisor for a bank. This installment loan is being paid off early,…

A: Rebate Fraction:- Remaining payment = 36- 32Remaining payment = 4Sum of the digit of n = (n*(n+1))…

Q: Calculate the DTI ratio (as a percent) for a borrower who has a gross monthly income of $5,330 and…

A: DTI ratio compares a person's or a household's total debt payments to their gross income. This is…

Q: Calculate the finance charge for a credit card that has the given average daily balance and interest…

A: The finance charges are the charges that credit card company collects from customers on the amount…

Q: Calculate the amount financed, the finance charge, and the monthly payments (in $) for the add-on…

A: The add-on interest method adds the total interest and the principal amount to reflect the amount…

Q: Purchase (Cash) Price Down Payment Calculate the amount financed, the finance charge, and the…

A: Amount financed:"Amount Financed" refers to the principal sum borrowed or financed in a loan…

Q: Mint.com, GoodBudget, Mvelopes, BillGuard, PocketExpense, HomeBudget, and Expensify. After using…

A: Notes payable are promissory notes because one party promises to pay the other party money within a…

Q: You need to borrow money. Bank I offers loans at 14.00% compounded yearly. Bank 2 offers loans at…

A: EAR=1+RMM-1

Q: 5) According to a recent WalletHub report, the average credit card balance is $10,848 per American…

A: Credit card:A credit card is a financial tool that enables individuals to make purchases on credit,…

Q: Calculate the monthly payment by table lookup and formula. (Answers will not be exact due to…

A: The purchase price of the car is $4255 The down payment is $95 The total number of the monthly…