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- 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.A family has an $80,000, 20-year loan at 8% compounded monthly. (a) Find the monthly payment and the total interest paid. (b) Suppose the family decides to add an extra $100 to its mortgage payment each month starting with the very first payment. How long will it take the family to pay off the mortgage? (c) Referring to part (i) and (ii), how much interest will the family save?The original amount that was borrowed for your home mortgage was 175,000 dollars, to be repaid through monthly payments for 25 years at 5.6% APR . a. Find the amount of the monthly payment that would amortize this loan. b. Suppose you have been making your payments for the last 7 years, and would like to apply for a home equity loan to put an in-ground pool in your yard. Calculate what remains to be paid on your mortgage. c. Calculate the equity you have In your home if your home is currently worth $205,000.
- Find the monthly house payments necessary to amortize each loan. Then calculate the total payments and the total amount of interest paid. $253,000 at 6.45% for 30 years2. In buying a set of household appliances costing P120,000.00, a family makes a down payment of P10,000.00, and there is an agreement to pay the balance in 36 monthly installments. How much is the monthly installment if interest is charged at 6.5% compounded monthly? Construct an amortization schedule.A house sells for $135,000 and a 25% down payment is made. A mortgage was secured at 2.8% for 20 years. Round to the nearest cent, if necessary. Part 1 of 4 Find the down payment. The down payment is S Part 2 of 4 Find the amount of the mortgage. The amount of the mortgage is Part: 2/4 Part 3 of 4 Find the monthly payment. The monthly payment is S
- You purchase a home for $400,000 and make a down payment of $125,000. The balance is borrowed and financed as follows: 4 year mortgage, 5% interest, paid as an ordinary annuity. How much total interest is paid on the loan?Find the monthly house payments necessary to amortize the following loan. Then calculate the total payments and the total amount of interest paid. $204,000 at 6.89% for 25 years The monthly payments are $ (Round to the nearest cent.)The amount that is borrowed on your house mortgage was $175,000 dollars to be repayed through monthly payments for 25 years at 5.6% APR. a. Find the amount of the monthly payment that would amortize this loan. b. Suppose you have been making your payments for the last 7 years and would like to apply for a home equity loan to put an in ground pool in your yard. Calculate what remains to be paid on your mortgage. c. Calculate the equity you have in your home if your home is currently worth $205,000.
- A house sells for $155,000 and a 20% down payment is made. A mortgage was secured at 3% for 30 years. Round to the nearest cent, if necessary. Part: 0 / 4 0 of 4 Parts Complete Part 1 of 4 Find the down payment. The down payment is $ . (b) Find the amont of the mortgage. (c) Find the monthly payment ( d) Find the total interest paidafter making payments of $917.10 for 6 years on your 30-year loan at 8.3%, you decide to sell your home. what is the loan payoff?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. o. 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 $.
