Do you want to By A home for $330,000. You plan to pay 33,000 as a down payment and take out a 15 year loan at 3.5% interest for the rest. What is the amount of the payment? If the bank charges 1.5 points on the loan what is the amount charge for points? If the bank charges 1.5 points on the loan what is the true interest rate?
Q: You want to buy a $200000 home. You plan to pay $20000 as a down payment, and take out a 20 year…
A: Here, Value of Home is $200,000 Down payment is $20,000 Time Period of Loan is 20 years Interest…
Q: You want to buy a $199,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan…
A: Formula; Loan amount = Home value * (1 - Down payment) Loan amount = $199,000 * (1 - 0.10) Loan…
Q: You want to buy a $170000 home. You plan to pay $34000 as a down payment, and take out a 20 year…
A: Price of Home =$ 170000 Down Payment =$ 34000 Amount Financed = $ 170000-$ 34000 = 136000 Years = 20…
Q: You want to buy a $150,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…
A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: You want to buy a $255,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…
A: Amount of home = $255,000 Down payment = 5% The time duration of the loan = 30 years
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A: Closing cost is the cost which has to be paid by either seller or the buyer to the government when…
Q: You want to buy a $170000 home. You plan to pay $51000 as a down payment, and take out a 15 year…
A: Given:
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A: Outstanding balance is calculated by present value of annual payments left to be paid, so PV formula…
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A: Option 1: 1 year loan borrowed at prime rate = 11%Effective interest cost = 11%Option 2: 1 year loan…
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A: Simple Interest Loans are the loans in which the interest amount is calculated by multiplying the…
Q: You want to buy a $140000 home. You plan to pay $14000 as a down payment, and take out a 20 year…
A: Hi, since you have posted a question with multiple sub-parts, we will answer the first three (as per…
Q: You are buying a home that cost $110,000 and are putting 20% down to avoid PMI. What would their…
A: Cost of house is $110,000 , down payment is 20% of cost = $22000. Therefore, loan amount is $88,000.…
Q: The First Common Bank has advertised one of its loan offerings as follows: “We will lend you…
A: Interest: It can be defined as the cost incurred by the borrower related to the amount borrowed.
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A: A study that proves that the future worth of the money is lower than its current value due to…
Q: You are thinking of purchasing a house. The house costs $200,000. You have $29,000 in cash that you…
A: The value for mortgage would be considered as the agreement between the bank and individual party…
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A: Working note:
Q: Suppose you want to buy a $148,000 home. You found a bank that offers a 30-year loan at 3.5%…
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Q: You want to buy a $226,000 home. You plan to pay 5% as a down payment, and take out a 30-year loan…
A: Price = $226000 Down payment = 5% Interest rate = 6.55% Monthly interest rate (r) = 6.55%/12 =…
Q: What is the monthly loan payment?
A: A personal loan is an unsecured loan and can be easily received without a need to pledge collateral…
Q: Write the Formula for the equation for the payment on the Loans (you do NOT need to evaluate) (a) 30…
A: Part (a) Loan Amount = $125,000 Time Period = 30 Years Interest Rate = 4.2% Part (b) Loan Amount =…
Q: ou want to buy a $219,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan…
A: a) Hence, the loan amount is $186150.00.
Q: You are ready to buy a house and you have $35,000 for a down payment and closing costs. Closing…
A: Excel formula.
Q: You want to buy a $280000 home. You plan to pay $56000 as a down payment, and take out a 15 year…
A: Dear student we need to use excel to solve this problem. The formulas that you need to understand to…
Q: You want to buy a $130,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…
A: Down payment: When an asset is bought or a loan is taken, there would be some token amount that…
Q: f you borrows $60,000 from the bank at 10% interest over the 7 years of the loan. • What equal…
A: A study that proves that the future worth of the money is lower than its current value due to…
Q: You are thinking of purchasing a house. The house costs $400,000. You have $57,000 in cash that you…
A: Down payment It is the payment generally made in cash, in the early stages of the purchase of both…
Q: You decide to borrow $250,000 to build a new home. The bank charges an interest rate of 8%…
A: Monthly payments to be paid on the loan amount are calculated using the interest rate, loan amount…
Q: You plan to borrow P10,000 from your bank, which offers to lend you the money at a 7.5% nominal rate…
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Q: You have taken out a 5 year loan from a bank to buy an engagement ring. The ring costs $5000, you…
A: Timeline of project refers to arrangement of all transaction related to a project in chronological…
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A: Monthly payment is calculated by the annuity for the given present value and calculated by present…
Q: You want to buy a $194,000 home. You plan to pay 20% as a down payment, and take out a 3.3% APR loan…
A: We will only answer the first three subparts for the remaining subparts kindly resumit the whole…
Q: Suppose you want to buy a $141,000 home. You found a bank that offers a 30-year loan at 3.7% APR.…
A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…
Q: Suppose you want to buy a $147,000 home. You found a bank that offers a 30-year loan at 3.3% APR.…
A: Mortgage/ Borrowings: Borrowings are the loan which is taken by the individual to meet its…
Q: You have just made an offer on a new home and are seeking a mortgage. You need to borrow $600,000.…
A: Mortgage: It is termed as a loan used for purchasing properties, homes, and other real estate…
Q: How would be the principal amount of loan if you need to borrow $300,000 for one year with a…
A:
Q: You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you…
A: Given, Rate per period = 0.06 Total number of payments (nper) = 30 Present value (pv) = 300,000…
Q: You want to buy a $202,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan…
A: Cost of house is $202,000 Down payment is 20% Time period is 30 years Interest rate is 5.5% To…
Q: You want to buy a $168,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…
A: Cost of home = $168000 Down payment = 5% Loan period = 30 Years Interest rate = 6.95%
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A: Payment per period can be calculated using PMT function in excel. PMT(rate, nper, pv, [fv],…
Q: You want to buy a $145,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan…
A: Hi, since you have posted a question with multiple sub-parts, we will answer the first three…
Q: You are ready to buy a house and you have $15,000 for a down payment and closing costs. Closing…
A: "Hi, Thanks for the Question, Since you asked multiple question, we can provide solution of first…
Q: You want to buy a $212,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan…
A: a) Amount of down payment = cost of house * % of down payment
Q: You want to buy a $190000 home. You plan to pay $19000 as a down payment, and take out a 15 year…
A: Two points of loan is that 2% discount on loan.
Q: Suppose you want to buy a $150,000 home. You found a bank that offers a 30-year loan at 4.1% APR.…
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A: Part (a): Calculation of monthly payment: Answer: Monthly payment is $561.53
Q: You want to buy a $150,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…
A: Down Payment is the payment we make initially at the start of purchase of a home or a vehicle.…
Q: You want to buy a $130,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: You want to buy a $280000 home. You plan to pay $56000 as a down payment, and take out a 15 year…
A: A mortgage is the type of loan that a person is required to buy a house. It is the loan in which a…
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- Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $2,500 over the next 4 years when the interest rate is 15%, how much do you need to deposit in the account? B. If you place $6,200 in a savings account, how much will you have at the end of 7 years with a 12% interest rate? C. You invest $8,000 per year for 10 years at 12% interest, how much will you have at the end of 10 years? D. You win the lottery and can either receive $750,000 as a lump sum or $50,000 per year for 20 years. Assuming you can earn 8% interest, which do you recommend and why?Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate $4,200 over the next 6 years when the interest rate is 8%, how much do you need to deposit in the account? B. If you place $8,700 in a savings account, how much will you have at the end of 12 years with an interest rate of 8%? C. You invest $2,000 per year, at the end of the year, for 20 years at 10% interest. How much will you have at the end of 20 years? D. You win the lottery and can either receive $500,000 as a lump sum or $60,000 per year for 20 years. Assuming you can earn 3% interest, which do you recommend and why?You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.
- You want to buy a $190000 home. You plan to pay $19000 as a down payment, and take out a 15 year loan at 4.25% interest for the rest.a) What is the amount of the payment?$b) If the bank charges 2 points on the loan, what is the amount charged for points?$c) If the bank charges 2 points on the loan, what is the true interest rate?$ TVM SOLVERYou want to buy a $200000 home. You plan to pay $20000 as a down payment, and take out a 20 year loan at 5.25% interest for the rest. a) What is the amount of the payment? $ b) If the bank charges 1.5 points on the loan, what is the amount charged for points? $ c) If the bank charges 1.5 points on the loan, what is the true interest rate? $ Question Help: D Video Submit QuestionYou want to buy a $280000 home. You plan to pay $56000 as a down payment, and take out a 15 year loan at 3.5% interest for the rest. a) What is the amount of the payment? b) If the bank charges 3 points on the loan, what is the amount charged for points? c) If the bank charges 3 points on the loan, what is the true interest rate?
- You want to buy a $183,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan at 4% interest for the rest.a) What is the amount of the down payment?$b) What will the amount of the mortgage?$c) The bank charges 2 points on the loan. What is the amount charged for points?Pls help on ur own.Suppose you take out a car loan that requires you to pay $8,000 now, $5,000 at the end of year 1, and $7,000 at the end of year 2. The interest rate is 5% now and increases to 9% in the next year. What is the present value of the payments?You want to buy a $195,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 5.35% interest for the rest. The bank will charge 1.5 points on the amount financed.a) What is the amount of the down payment?$b) How much is the loan amount going to be?$c) What will be the amount charged for 1.5 points?d) Find the amount of the monthly payment.
- You want to buy a $170000 home. You plan to pay $51000 as a down payment, and take out a 15 year loan at 5.25% interest for the rest. After 6 years, you decide to pay off the entire loan.a) What is the amount of the payment?$ b) What is the outstanding principal after 6 years?$c) If the bank charges 2 points on the loan, what is the amount charged for points?$d) If the bank charges 2 points on the loan, what is the true interest rate?$ TVM SOLVERC. ich total money will you pull out of the account? account at the beginning How much of that money is interest? 19. You can afford a $700 per month mortgage payment. You've found a 30 year loan at 5% interest. a. How big of a loan can you afford? b. How much total money will you pay the loan company? How much of that money is interest? C. down paynYou want to buy a $160,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan at 4.65% interest for the rest. The bank will charge 2 points on the amount financed. a) What is the amount of the down payment? b) How much is the loan amount going to be? $ c) What will be the amount charged for 2 points? d) Find the amount of the monthly payment. $