Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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How much you will pay for a 30-years mortgage if the annual payment es $11,147 at a 3.99% annual
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- You take out a 30-year fixed-rate mortgage for $300,000 with an interest rate of 1.2% (APR). What is the monthly payment?arrow_forwardWhat is the monthly payment on a 30 year, $666,000 mortgage, with an interest rate of 2%, compounded monthly?arrow_forwardSuppose you have a 20 year mortgage for $493,194 with monthly payments of $29895. What is the total amount of interest you paid for your mortgage?arrow_forward
- Suppose you take out a 30 year mortgage for $ 225000 at 6% interest. The monthly payments on this loan are $ 1348.99. If you pay an extra 20% per month on your mortgage, how soon will you pay off the loan?arrow_forwardYou bought a house with a $430075 mortgage that you will pay off over 29 years. Given your credit score, your interest rate is 7.27%. What is your monthly payment? Answer:arrow_forwardSuppose you take out a 30 year mortgage for $ 250000 at 4% interest. The monthly payments on this loan are $ 1193.54. If you pay an extra 40% per month on your mortgage, how soon will you pay off the loan? How much will you save in interest by making the extra payments? If you put $ 1193.54 per month into an annuity earning 7.25% interest compounded monthly for the remaining time on your original loan, how much money will you have at the end of the original 30 years?arrow_forward
- If you have a $125,000 mortgage with a $700.00 monthly payment, payable over 30 years, what interest rate are you paying?arrow_forwardA borrower obtains a $300, 000 reverse annuity mortgage with monthly payments over 5 years with a $50,000 advance. If the interest rate of the mortgage loan is 7.5 %, what is the monthly payment received by the borrower? using finance calculatorarrow_forward
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