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 total interest will you pay?

You take out a 20-year $280,000 mortgage loan with an APR of 6% and monthly payments. In 16 years you decide to sell your house and pay off the mortgage. What is the principal balance on the loan?

The terms of a loan call for monthly payments for 6 years at 9.6 percent interest. If you borrow $18,800 to purchase a new car, what is the amount of each payment?

You plan to purchase an $80,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered to you is 8.00 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage.b. Calculate the amount of interest and, separately, principal paid in the 127th payment.c. Calculate the amount of interest and, separately, principal paid in the 159th payment.d. Calculate the amount of interest paid over the life of this mortgage.

Yogesh

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.

You plan to purchase a $160,000 house using a 15-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6.5 percent. You will make a down payment of 15 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Calculate the amount of interest and, separately, principal paid in the 25th payment. c. Calculate the amount of interest and, separately, principal paid in the 80th payment. d. Calculate the amount of interest paid over the life of this mortgage. (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) a. Monthly payment b. Amount of interest Amount of principal Amount of interest Amount of principal d. Amount of interest paid C. Amount

A person borrows an amount for a new house and s/he is going to make monthly payments of 8,000 $ for the next 10 years. The nominal annual interest rate is quoted as 12%. (Assume the first instalment is going to be paid 1 month after s/he borrows.) a. Find the amount borrowed by this person. b. How much does this credit worth at the end of the last payment date? c.lf this person decides on closing his/her loan after paying the 34th instalment, how much should s/he pay? It is given that the closing fee of this credit is 1,453 $.

On June 1, you borrowed $350,000 to buy a house. The mortgage interest rate is 3.5%. The loan is to be repaid in equal monthly payments over 30 years.  What is your monthly payment ?  How much equity will you have in the house after 5 years? How much interest have you paid during year 6 only? How much interest will you be paying over the whole course of the loan?

The bank offers you a 20 year mortgage for $200,000 at an interest rate of 8% . The term of the mortgage is 5 years. a) What are your monthly payments? b) How much of the 30th payment is applied to interest? How much to principal? c) Under the monthly payment schedule, what do you still owe after 5 years? d) If you make payments every 2 weeks instead, what are your payments? e) Under the biweekly payment schedule, how much do you owe after 5 years?