$80,000 is borrowed at 4% compounded monthly with regular monthly payments fully amortizing over 30 years. What...

Fantastic news! We've Found the answer you've been seeking!

Question:

$80,000 is borrowed at 4% compounded monthly with regular monthly payments fully amortizing over 30 years. What is the monthly payment?

Posted Date: Mar 13, 2024 01:27 AM

See More Questions

"A bank makes a 30 year Fully Amortizing FRM for $1,000,000 at an annual interest rate of 4.13% compounded monthly, with monthly payments. What is the market value of this loan after 7 years of...
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
For each problem, show your work steps. A correct answer with no work shown gets half credit (which means you fail the assignment). An incorrect answer with no work receives 0 credit. With time value...
The magnet has mass 3 . 8 5 kg and the force pulling it to the right is 1 3 6 . 8 N . When the magnet hits the floor, it continues being pulled to the right by the same magnetic force as before. The...
The financial statements of Jean Coutu are presented in Appendix B following the financial statements for Shoppers Drug Mart in Appendix A. Instructions (a) Calculate the following for each company...
Write a research paper on the Great Wall of China including its history.
In December 2008, Jason Garcia signed a motor vehicle sales contract with Mac Haik Dodge Chrysler Jeep, a dealer. In the contract, Garcia agreed to purchase a 2009 Dodge Ram 1500. The contract...
Job costing, contracting, ethics. Kingston Company manufactures modular homes. The company has two main products that it sells commercially: a 1,000 square foot, one-bedroom model and a 1,500 square...
A few years ago, France banned overtime (and the overtime pay that went with it) and reduced weekly working hours from 40 to 35 hours. What types of workers would benefit most from these changes?...
The previous year was Amys first year of operating the bookstore. Amy and Ken elected to carry forward a $4,752 net operating loss from the first year of business into 2015. (Note: Net operating...
Give an example where your personal sense of justice conflicts with the criminal justice system. For example, maybe a controversial law or policy that conflict with your personal sense of justice.
1. A company sold a piece of PP&E for 8,000 that had originally cost 25,000. Accumulated depreciation was 15,000. What amount if any would appear in the operating section of the cash flow statement...
Mountain Top Markets has total assets of $48,700, net working capital of $1,100, and retained earnings of $21,200. The firm has 12,500 shares of stock outstanding with a par value of $1 per share and...
Suppose you're faced with a Schrodinger equation that you can't solve, but you have a pretty good guess at what the ground state wave function should be. Call your guess "f". Write an expression for...
d.The balance in a company's Long-Term Loan Payable account on December 31, 2020, is $350,000. The long-term loan amortizes over seven years with equal principal repayments of $50,000, the first of...
2. Wally acquires and places in service a new machine (seven year property) on january 10, 2018 at a cost of $1,080,000. Wally makes the election to expense the maximum amount under 179, but does not...
A non-interest-bearing note was recorded in the accounting records. The book value of the note remains the same during the maturity period. decreases during the maturity period. increases throughout...
Calculate the electrical conductivity of a fiber-reinforced polyethylene part that is reinforced with 20 vol % of continuous, aligned nickel fibers.
A project developed in PL/1 is expected to take 30 months. Assuming the same ratios as those shown in the table below, compare the duration, level of effort, and software size between a project...
What is the difference between tabular output and zoned output?
Develop a questionnaire for mass employee distribution based on your findings from the previous interviews. Why are we completing the analysis with an anonymous survey?

$80,000 is borrowed at 4% compounded monthly with regular monthly payments fully amortizing over 30 years. What...

Question:

Expert Answer:

The formula for an amortizing loan payment M P r 1 rn 1 rn 1 Where M ... View the full answer

Students also viewed these finance questions