You are buying a house priced at $654,125. You plan to pay 20% of the price for down payment and finance the rest. The mortgage loan you need to borrow lasts 30 years and requires 4.25% interest rate per annum. What is your payment EACH MONTH for the mortgage loan?

You are offered an add-on loan for $4,500 at 18% for 5 years. What is the monthly payment? What is the amount of interest? What is the true interest rate cost of this loan?   If you could pay the same loan above at a compound rate: What would the monthly payment be? What would the amount of interest be?   Prepare a monthly payment schedule for each loan above using Excel, and submit it. Suppose that you are only allowed to make a balloon payment to the principal of the compound interest loan. You have $1,000 to put down at the beginning of year three. How many payments will you save?

You are offered a loan of US$180,000 by a bank for 20 years. What will the monthly payments for this loan if the interest rate is 5.5% per year?

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?

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?

You get a $350,000 mortgage to buy a condo.  If rates are at 6% and you will take thirty year fixed loan, how much will your monthly payments be?

You borrow $149,000 to buy a house. The mortgage rate is 7.5% and the loan period is 30 years. Payments are made monthly. If you pay for the house according to the loan agreement, how much interest will you pay on your 60th monthly payment?

Your car loan has monthly payments of $295 for the next 5 years with the first payment due today. If the annual interest rate is 5.16%, what is the value of the payments today?

You need a 20-year, fixed-rate mortgage to buy a new home for $230,000. Your mortgage bank will lend you the money at a 6.6 percent APR for this 240-month loan. However, you can afford monthly payments of only $950, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. How large will this balloon payment have to be for you to keep your monthly payments at $950? Multiple Choice O O $88,924.29 $103.581.46 $386,349.21 $374,758.73 O $401,803.18