If I took out a loan for $550,000 6 years ago with an interest rate of 7%p.a, paying principle and interest how much do I currently owe?

Q: You get a $550,000 mortgage loan with 1¼ points. What dollar amount do you pay for points?

A: One mortgage point equal to 1 % of loan amount.

Q: How much would you pay for the right to receive $4, 500 at the end of year 1, $3,500 at the end of…

A: The objective of this question is to calculate the present value of future cash flows. The present…

Q: If you are willing to loan someone $100 and expect to be paid back $200 and earn 12% on your…

A: Given Loan amount is $100 Amount to be paid back is $200 Rate of return is 12%

Q: Your brother lends you $1000 and you promise to repay $1,500. If he wants at least a 5% return on…

A: Future value is the future worth of a cash flow at a certain rate and period of time. Future…

Q: For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest. 17. Calculate…

A: Note: : We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Imagine that you were approved for a $5000, 3 year, 12 percent loan with the finance charges figured…

A: In order to calculate the finance charges we have taken the effect of compounding and hence the…

Q: You are to receive $ 400,000 exactly 5 years from now. You do not want to wait for the money and…

A: The concept of the time value of money states that the current worth of money is more than its value…

Q: 4. a. Now assuming that a bank offers you a 30-year loan at 3.25% compounded monthly to pay the…

A: Mortgage means the amount which is borrowed from external sources like banks. This amount is repaid…

Q: How much money was your existing mortgage loan for? suppose that 10 years ago you bought a home for…

A: Given information: Mortgage bought for $150,000 Down payment is 10% Interest rate is 9% Number of…

Q: If you borrow $6,000 for 4 years and agree to pay back $8000, what simple interest rate will you end…

A: Simple interest is the type of interest that is calculated only on the principal amount. Simple…

Q: what would the remaining payment look like over five years

A: Future payments are the expected cash payoffs either in the form of cash receipts or cash payments…

Q: An investor purchased a house 10 mortgage loan for $300,000. The m of 5 percent compounded monthly…

A:

Q: an 150 000 net proceeds of a loan, how much should I apply for as principal if the bank discounts 5%…

A: The loans are given by the banks are discounted by the banks depending on the policy of bank and it…

Q: Suppose that, to purchase a car, you are obtaining a personal loan from your uncle in the amount of…

A: Loan amount = $ 65000 Annual interest rate = 6% Period = 5 Years

Q: If I purchased a car loan for Php 800,000 with an annual rate of 15% for 5 years, how will I able to…

A: Loan amount (P)= Php 800,000 Annual rate (R)= 15%  Time (T)= 5 years S.I. and C.I.=?

Q: f Brian wants to buy a house that cost $100000 the bank agreed to give him 80% of cost at 0.07…

A: Installment is the amount of periodic payments a borrower has to make to its lender in order to pay…

Q: Investigate the effect of the interest rate on home loans by finding the monthly payment and the…

A: Formulas:

Q: Suppose you purchased a house 7 years ago and took out a mortgage for $400,000 with a 5.6% interest…

A: Here,

Q: Alex would like to purchase a new car for $15,000. How much will his monthly payments be if he took…

A: Given The cost of new car is $15,000 Term of loan is 3 years Interest rate is 7%

Q: You have just taken out a five-year loan from a bank to buy an engagement ring. The ring costs…

A: correct answer is option a)   year 0 year 1 year 2 year 3 year 4 year 5               cash…

Q: 1. Larry borrowed $1,000 through a loan shark, two years later he ended up paying $1,500 to settle…

A: The Present Value refers to a concept that states the discounted value or say value at today's time…

Q: If I can invest R120 today and I want to have R500 in my account 4 years from today at what interest…

A: Amount invested Today=120Year-2 , Amount invested=100Year-4, Amount Received =500Time period=4…

Q: You bought a house and need a mortgage for $1,014,597. The interest rate on the mortgage is 2.5% and…

A: Compound = 24Principal Amount = p = $1,014,597Interest Rate = r = 2.5 / 24 %Number of Payment = n =…

Q: If I took out a loan for $550,000 10 years ago with an interest rate of 7%p.a on a 25 year loan…

A: Loan (Borrowings): A loan is an agreement to lend money to someone with the intention of repaying it…

Q: which formula 2.Jacob borrows $3,000 at 5% exact interest for 540 days. How much does he need to pay…

A: Simple interest is calculated on the principal using the given rate of interest for the required…

Q: You borrow $155,000; the annual loan payments are $12, 490.89 for 30 years. What interes rate are…

A: Borrowed amount = $155,000Annual loan payment = $12,490.89Number of years =  30 Years

Q: A man took out a loan with a loan shark. He accepts P21,342.00 from the loan shark and promises to…

A: Equation for calculation of simple interest is as follows: Interest= P x R x T ÷ 100 so, to…

Q: st borrowed $267,000 at 2.125%for 15-years.My lender is looking to sell my loan and the market rate…

A: The loans are paid by the monthly regular payments that carry the payment for principal amount and…

Q: tently app your existing mortgage $129,350. your bank iS willing to loan up to 709 the appraised…

A: Equity in home is the value of that is available after paying of the mortgage on the loan and credit…

Q: You have been asked to determine whether it is beneficial for a homeowner to refinance their current…

A: Data given: Loan amount=$200,000 N=30 years Interest rate=7.5% Refinancing: N=27 years Interest…

Q: You decide to purchase a new home and need a $400,000 mortgage. You take out a loan from the bank…

A: Yearly payment refers to the payment that is paid each year including the interest and principal…