Business, 19.06.2020 15:57 xrenay

You found your dream vacation cottage in the mountains and your offer of $78,000 was accepted. You plan to put 20% down and will roll the closing costs of $3,500 into the mortgage. Congratulations, your 15 year mortgage has been approved at an interest rate of 4.125%. (You must use the attached Excel loan amortization schedule). 1. How much are you financing?
2. How much are your monthly mortgage payments?
3. How much will you pay in total interest? If, before you began paying the loan: You decided to round your payment up to the nearest $100. How much additional would you pay?
4. How much interest would paying the additional amount save you over the life of the loan?
5. Does this change the total number of payments to satisfy the loan? If so, by how many? Instead of paying the additional, you decide to pay by-weekly.
6. What are your payments? Rather than paying additional what if: You decided to pay bi-weekly payments.
7. How much less will you pay over the life of the loan?

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 15:30

For a firm that uses the weighted average method of process costing, which of the following must be true? (a) physical units can be greater than or less than equivalent units. (b) physical units must be equal to equivalent units. (c) equivalent units must be greater than or equal to physical units. (d) physical units must be greater than or equal to equivalent units.

Answers: 1

Answer

Business, 22.06.2019 19:20

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.

Answers: 2

Answer

Business, 23.06.2019 07:50

Tubby toys estimates that its new line of rubber ducks will generate sales of $7.60 million, operating costs of $4.60 million, and a depreciation expense of $1.60 million. if the tax rate is 35%, what is the firm’s operating cash flow? (enter your answer in millions rounded to 2 decimal places.)

Answers: 1

Answer

Business, 23.06.2019 10:00

Which statement was true in the past but is not generally true today? a. the training and education costs for some jobs will prohibit some people from entering that career be b. young people tend to go into the same job that their parents and grandparents did see c. people need a basic level of education before they meet requirements to professional schools d. people will probably have more than one job in their active working lives

Answers: 1

Answer

You know the right answer?

You found your dream vacation cottage in the mountains and your offer of $78,000 was accepted. You p...

Questions