Determine the monthly principal and interest payment for a 15 -year mortgage when the amount financed is $85,000 and the annual percentage rate (APR) is 7.0%. The monthly principal and interest payment is $ (Round to the nearest cent as nếeded.)
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Determine the monthly principal and interest payment for a 15 -year mortgage when the amount financed is $85,000 and the annual percentage rate (APR) is 7.0%. The monthly principal and interest payment is $ (Round to the nearest cent as nếeded.)
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- Calculating interest and APR of installment loan. Assuming that interest is the only finance charge, how much interest would be paid on a 5,000 installment loan to be repaid in 36 monthly installments of 166.10? What is the APR on this loan?Calculating and comparing add-on and simple interest loans. Eli Nelson is borrowing 10,000 for five years at 7 percent. Payments, which are made on a monthly basis, are determined using the add-on method. a. How much total interest will Eli pay on the loan if it is held for the full five-year term? b. What are Elis monthly payments? c. How much higher are the monthly payments under the add-on method than under the simple interest method?Determine the monthly principal and interest payment for a 15-year mortgage when the amount financed is $85,000 and the annual percentage rate (APR) is 7.0%. The monthly principal and interest payment is $ (Round to the nearest cent as needed.)
- Determine the monthly principal and interest payment for a 15-year mortgage when the amount financed is $65,000 and the annual percentage rate (APR) is 8.0%. the monthly principal and interest payment is $_____.Determine the monthly principal and interest payment for a 15-year mortgage when the amount financed is $75,000 and the annual percentage rate (APR) is 8.0%. The monthly principal and interest payment is? round to nearest centDetermine the monthly principal and interest payment for a 15-year mortgage when the amount financed is $85,000 and the annual percentage rate (APR) is 7.0%
- Determine the monthly principal and interest payment for a 15-year mortgage when the amount financed is $95,000 and the annual percentage rate (APR) is 7.0%. Click here for table of Monthly Payments LOADING... The monthly principal and interest payment is $nothing. (Round to the nearest cent as needed.)Consider a home mortgage of $150 comma 000 at a fixed APR of 4.5 % for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.Consider a home mortgage of $225,000 at a fixed APR of 3% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest.
- A fully amortizing mortgage is made for $112,000 at 6.5 percent interest. Required: If the monthly payments are $1,060 per month, when will the loan be repaid? (Round up your answer to the nearest whole number)Consider a home mortgage of $150,000 at a fixed APR of 6% for 25 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.)Calculate the original loan size of a fixed-payment mortgage if the monthly payment is $1,146.78, the annual interest rate is 8.0%, and the original loan term is 15 years.
