Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Ms. Smith agreed to purchase a property for $400,000 under the following terms: 80 percent loan-to-value ratio, 7 percent annual interest, and a 20-year loan term with monthly payments. Show your answers to the following two questions using your CCIM excel calculator. a. What would be Ms. Smith’s outstanding loan balance at the end of year three? b. What would be the outstanding balance if the interest rate were 3 percent in the above scenario?
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- A. Solve the following problems and show your complete solution. 1. Anna bought a diamond necklace worth P185,000. Securing 15% down payment, they agreed to pay the remaining for 1 year with 12% annual interest rate. a. How much is the down payment? b. How much is the mortgage loan? 00 c. How much is the monthly amortization? d. Create an amortization table. HRISTIAarrow_forwardI need the answer of the question attached. Please provide all possible answers. Thank you!arrow_forwardRepaying a Loan While Mary Corens was a student at the University of Tennessee, she borrowed $9,000 in student loans at an annual interest rate of 10%. If Mary repays $1,300 per year, then how long (to the nearest year) will it take her to repay the loan? Do not round intermediate calculations. Round your answer to the nearest whole number.arrow_forward
- You borrow $675,000 to buy a home using a 30-year mortgage with an interest rate of 3.675 percent and monthly payment. Calculate the interest portion of the 20th payment. Disregard property taxes and mortgage insurance. Group of answer choices $2,006 $1,999 $2,002 $1,818 $1,821arrow_forwardPlease Do both questions Edie wants to borrow $325,000 to purchase a new condominium in New York. What are her monthly payments for a fully amortizing 30-year fixed rate mortgage with a 4.5% contract rate? Ans:___ what are her monthly payments for a partially amortizing 25-year fixed rate mortgage with a 4.5% contract rate and 5-year maturity? Ans:___arrow_forwardam. 08.arrow_forward
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