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What's the monthly payment on a 30 year 7% mortgage if you borrowed to buy the house for 200,000 with a 10% down payment?
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- What would your monthly payment be if you took out a 30 year mortgage on a $110,000 house, paying 20% as a down payment with an interest rate of 4.75% compounded monthly? How much in total would you have paid on the loan for the house after 30 years not including the down payment? How much total would you have paid on the loan for the house after 30 years including the down payment?Suppose you want to buy a rent to own house worth P450,000. You made a down payment of 15% of the purchase price and take a 25 year mortgage for the balance. a. What is your down payment? b. What is your mortgage amount? c. What is the total interest charged over the life of the loan if your monthly payment is P2,200?Suppose you have good credit and can get a 30 year mortgage for $100,000 at 5%. What is your monthly payment?
- Suppose you take out a $117,000, 20-year mortgage loan to buy a condo. The interest rate on the loan is 5%. To keep things simple, we will assume you make payments on the loan annually at the end of each year. a. What is your annual payment on the loan? b. Construct a mortgage amortization. c. What fraction of your initial loan payment is interest? d. What fraction of your initial loan payment is amortization? e. What is the total of the loan amount paid off after 10 years (halfway through the life of the loan)? f. If the inflation rate is 3%, what is the real value of the first (year-end) payment? g. If the inflation rate is 3%, what is the real value of the last (year-end) payment? h. Now assume the inflation rate is 6% and the real interest rate on the loan is unchanged. What must be the new nominal interest rate? i-1. Recompute the amortization table. i-2. What is the real value of the first (year-end) payment in this high-inflation scenario? j. What is the real value of the last…If you have a $125,000 mortgage with a $700.00 monthly payment, payable over 30 years, what interest rate are you paying?Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. If you pay $975 per month on your mortgage instead, in how many years will you pay off the loan?
- You borrow $100,000 to buy a house; if the annual interest rate is 6% and the term of the loan is 20 years, what is the annual payment required to retire the mortgage loan? Clue: Present ValueYou borrow $100,000 to buy a house; if the annual interest rate is 6% and the term of the loan is 20 years, what is the annual payment required to retire the mortgage loan?Do you want to buy $187,000 home. You plan to pay 20% as a down payment and then take out a 30 year mortgage for the rest. a) how much will the loan amount be? b) what will your monthly payments be if the interest rate is 6% ? c) what will your monthly payments be if the interest rate is 7%?
- Suppose you want to buy a rent to own house worth P450,000. You made a down payment of 15% of the purchase price and take a 25 year mortgage for the balance. a. What is your down payment? b. What is your mortgage amount? c. What is the total interest charged over the life of the loan if your monthly payment is P2,200? Solve manually in a paper.Suppose you purchase a house using a 30-year fixed rate mortgage. The APR on the loan is 3.2% and you will be required to make monthly payments of $3,700 what is the price you paid for your home?You buy a house and finance the purchase with a $200,000 mortgage. What are your monthly payments if the mortgage is for 30 years and the nominal annual mortgage interest rate is 6.50%? O $1,137.72 $1,011.31 O $1,264.14 $555.56 $1,200.93