This morning you borrowed 450000 to buy a house the apr for, Financial Management

+44 141 628 6080
[email protected]

This morning you borrowed 450000 to buy a house the apr for

This morning, you borrowed $450,000 to buy a house. The APR for your mortgage is 3.6%. The loan is to be repaid in equal monthly payments over 30 years. The first payment is due one month from today. (Please find using formulas if possible)

Formulas:

r = (apr / 12) and c = monthly payments

PV of an Annuity = (c / r) (1 - (1 / ((1 + r) ^ t)) )

FV of an Annuity = (c / r) ( ((1 + r)^t) - 1)

a) How much is your monthly mortgage payment?

b) How much of the 121st payment is interest? How much is used to repay the loan?

c) How much total interest will you pay on this loan?

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Financial Management: This morning you borrowed 450000 to buy a house the apr for

Reference No:- TGS01719768

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

What is a behavioral indicator related to family

Which of the following is a behavioral indicator related to Family? A) Developing school readiness and transition strategies B) Developing collaborative

Identify a true statement about validity

Question: Identify a true statement about validity as applied to a test. Multiple choice question

Discussion about the nature versus nurture

In our readings, we learn more about the nature versus nurture argument. For this discussion, I want you to go in depth a bit more and debate the importance

Identify one antecedent, one behaviour, and one consequence

Sahir is the most active student in your kindergarten class. He tends to be very disruptive when the teacher you work with is teaching the class,

Problem regarding the america youth and social media

Think about where you were the most and least engaged when reading a classmate's draft. Think about what captured your attention

Problem on journal articles and non-journal materials

Amanda said? Excellent post, Chrystal. You provided great insight into the helpful resource ERIC digital library is. I appreciate how it states the information

Review a social, behavioral, or cultural factor

Bearing in mind that there may be several, choose a social, behavioral, or cultural factor associated with your selected domestic violence

Request for Solution File

Ask an Expert for Answer!!

Financial Management: This morning you borrowed 450000 to buy a house the apr for

Reference No:- TGS01719768

Have a Question? (oR Write a Review)

Recent Questions Asked Financial Management

Q : Fresno salads has current sales of 6000 and a profit margin

Q : Consider the following annual returns of estee lauder and

Q : In its closing financial statements for its first year in

Q : The company also has a bank line of credit that allows the

Q : This morning you borrowed 450000 to buy a house the apr for

Q : Horizon value current and projected free cash flows for

Q : What is the required return for dentrix corporation the

Q : Stock x has an expected return of 011 it has a beta

Q : Ranyards beta is 113 and the last dividend per share paid