Hector and Maria purchase their first home for $138,000. They make a 10% down payment and finance the remaining balance for 30 years at 6.5% annual interest. Calculate the amount of principal they will owe after their first two payments of principal and interest. (Use a formula for MMP)

Jenny and Leo plan to purchase a new house and the couple is able to obtain a 25-year 3.6% (per annum, compounded monthly) amortised loan but they must put down 20% deposit. The loan requires end-of-month repayments of $2,500 where the first payment is due a month after the loan is taken. Assuming that the couple has enough savings for the down payment, what is the cost of the house that they want to purchase? a. 494,068.50 b. 2,470,342.49 c. 750,000 Od. 617,585.62

Bryce and David plan to purchase a home for $176,000. They will pay 20% down and finance the remainder for 15 years at the APR of 8.2%, compounded monthly. a) How large are the monthly payments? $ b) What will be their loan balance right after they have made their 156th payment? $ c) How much interest will they pay during the 13th year of the loan? $ d) If they were to increase their montly payments by $120, how long would it take to pay off the loan? Give your answer in whole months.

A couple is saving for retirement with three different accounts. The table below shows the current balances in their accounts, along with their yearly contribution, and the yearly return on each account. The couple will retire in 23.00 years and pool the money into a savings account that pays 3.00% APR. They plan on living for 28.00 more years and making their yearly withdrawals at the beginning of the year. What will be their yearly withdrawal? Yearly Contribution $1,000.00 $10,000.00 Account Fidelity Mutual Fund Vanguard Mutual Fund Employer 401k Balance $23,186.00 $180,962.00 $315,917.00 Submit Answer format: Currency: Round to: 2 decimal places. $15,000.00 APR 6.00% 8.00% 6.00%

A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have $40,000 when the child reaches the age of 18? Assume the money earns 7% interest, compounded quarterly. (Round your answer to two decimal places.)

Amy purchases an annuity that will give her payments of R at the end of each quarter for seven years. She will receive the first of these payments in 1.5 years. If Amy paid $50,000 for this annuity and will earn a nominal rate of interest of 6% compounded quarterly,(a) write the equation of value (using the appropriate actuarial notation) for this annuity at the time of purchase. Be sure to indicate the effective rate per payment period being used.(b) find the value of R.

A couple plans to save for their child's college education. What principal must be deposited by the parents when their child is born in order to have 39,000$ When the child reaches the age of 18? Assume the money earns 7% interest, compounded quarterly.?round your answer to two decimal places.

Mikayla and Peyton plan to send their son to university. To pay for this they will contribute 9 equal yearly payments to an account bearing interest at the APR of 8.6%, compounded annually. Four years after their last contribution, they will begin the first of five, yearly, withdrawals of $57,300 to pay the university's bills. How large must their yearly contributions be?

A couple is saving for retirement with three different accounts. The table below shows the current balances in their accounts, along with their yearly contribution, and the yearly return on each account. The couple will retire in 22.00 years and pool the money into a savings account that pays 4.00% APR. They plan on living for 27.00 more years and making their yearly withdrawals at the beginning of the year. What will be their yearly withdrawal? Yearly Contribution Account Fidelity Mutual Fund Vanguard Mutual Fund Employer 401k Balance $24,316.00 $184,560.00 $304,945.00 $1,000.00 $10,000.00 $15,000.00 APR 6.00% 8.00% 6.00%

Cindy and Rick purchased a home for $145,000 and financed it with a 30-year fixed-rate loan at 6.25% annual interest. If they put a 20% down payment on the house, what would be their monthly payment for principal and interest?