If you desire to have $25,000 for a down payment for a house in five years, what amount would you need to deposit today? Assume that your money will earn 3 percent.

You decide to purchase your own property. The estimated purchase price is $1,600,000. You obtain 90% financing from the bank, 7% fixed rate for 25 years. How much do they have to pay the bank every year? How much do you still owe the bank in 14 years?

You want to buy a new house.  You can afford to pay $15,000 per year for 30 years with the first payment being due one year from today.  If the interest rate on your loan is 3%, what price of home can you buy today? Enter your answer as a number rounded to 2 decimal places.

Suppose your parents have just retired and have $1 million in a retirement account. For how many years can they withdraw $5,000 at the beginning of each month for expenses, assuming that the account will continue to earn a 5 percent annual return until it is exhausted?

Without using Excel and using the formula, Cheryl is setting up a payout annuity and wishes to receive $1200 per month for 20 years. A. How much does she have to deposit if her money earns 8% interest compounded monthly? B. Find the total amount Cheryl will receive from her payout annuity.

Find the monthly house payment necessary to amortize the following loan. 9) In order to purchase a home, a family borrows $121,000 at 3.0% for 30 yr. What is their monthly payment? Round the answer to the nearest cent.

Katie wants to save $1500 over the next two years to use as a down payment on a new car. If her bank offers her 5% interest, what monthly payment would she need to put into an ordinary annuity in order to reach her goal? Round to the nearest cent.

You take out a 20​-yearmortgage for ​$310,000 to buy a new house. What will your monthly payments be if the interest rate on your mortgage is 9 percent? Use a spreadsheet to calculate your answer.  ​Now, calculate the portion of the 96th monthly payment that goes toward interest and principal. Use five decimal places for the monthly interest rate in your calculations. a.  Using a spreadsheet to calculate your​ answer, your monthly payments will be ​

You would like to have $37,000 in 5 years for the down payment on a new house following college graduation by making deposits at the end of every three months in an annuity that pays 4.25% compounded quarterly. How much should you deposit at the end of every three months? How much of the $37,000 comes from deposits and how much comes from interest?

Assume you won the state lottery and you are entitled to $5,000,000. If you choose not to take the money right away but wish to be paid weekly, you estimate that you will want to receive this cash flow over the next 10 years. How much will your weekly payment be at an interest rate of 5% ?