Calculating a Balloon Payment you have just arranged for $450,000 mortgage to finance the purchase of a
Question:
Calculating a Balloon Payment you have just arranged for $450,000 mortgage to finance the purchase of a large tract of land. The mortgage has an 8.5 percent APR, and it calls for monthly payments over the next 30 years. However, the loan has an eight-year balloon payment, meaning that the loan must be paid off then. How big will the balloon payment be?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (18 reviews)
The monthly payments with a balloon payment loan are calculated assuming a long...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th Edition
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
Question Posted:
Students also viewed these Corporate Finance questions
-
You have just arranged for a $1,950,000 mortgage to finance the purchase of a large tract of land. The mortgage has an APR of 5.2 percent, and it calls for monthly payments over the next 30 years....
-
You have just arranged for a $750,000 mortgage to finance the purchase of a large tract of land. The mortgage has an 8.1 percent APR, and it calls for monthly payments over the next 30 years....
-
You have just arranged for a $2,350,000 mortgage to finance the purchase of a large tract of land. The mortgage has an APR of 5.2 percent, and it calls for monthly payments over the next 30 years....
-
Jimmy and Elizabeth plan on getting married on the 15th of August. Elizabeth decides that she would prefer to have the reception in her backyard, so she rents an event tent from CELEBRATE Ltd, a firm...
-
A rubber ball with a radius of 3.2 cm rolls along the horizontal surface of a table with a constant linear speed v. When the ball rolls off the edge of the table, it falls 0.66 m to the floor below....
-
In each circuit of Figure 675 identify the series and parallel relationships of the resistors viewed from the source. Data in Figure 675. + 1.5v (2) 1 R 56 R 22 FIGURE 6-75 R 100 R3 100 3V (b)...
-
Crash Test Results Data Set 13 in Appendix B includes crash test results from 21 different cars. Determine whether the given values are from a discrete or continuous data set. Data Set 13: Car Crash...
-
A retail coffee company is planning to open 100 new coffee outlets that are expected to generate, in total, $15 million in free cash flows per year, with a growth rate of 3% in perpetuity. If the...
-
Change the repeating decimal to fraction form. 1.8181... 1.8181...= (Simplify your answer.)
-
On November 1, 2005, Janet Morton and Kim Wong formed Pet Kingdom, Inc., to sell pets and pet supplies. Pertinent information regarding Pet Kingdom is summarized as follows: Pet Kingdom's business...
-
Future Value and Multiple Cash Flows An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a child at the childs birth. The...
-
Calculating Interest Rates a financial planning service offers a college savings program. The plan calls for you to make six annual payments of $5,000 each, with the first payment occurring today,...
-
A curve is such that dy/dx = 6x(x 1). Given that the curve passes through the point (1, - 5) find the equation of the curve.
-
During Jons first year of working, he had income of $40,000 and consumed $35,000. During Jons second year of working, he had income of $45,000 and consumed $38,000. Given this information, what is...
-
1. Please explain why it becomes more difficult for the shareholder to motivate the manager to work hard in the asymmetric information case than in the symmetric information case?
-
You owe $1,853.42 on a credit card with a limit of $3,000.00 at a rate of 15.5% APR. You pay $400.00 the first 2 months and then $200.00 until the bill is paid off. You pay the bill on the due date...
-
2. Write a c program for an embedded application (which must have a dead/forever loop) which computes factorial of number 5 using a "for loop" structure. Your program should use a single main()...
-
You are a corporate treasurer and you would like to convert the exposure your firm has to a 10 year $100,000,000 bond issue it plans to make in the coming days to a floating rate. This bond will...
-
The following information is extracted from the books and records of Q Don at 30 June 2022 (figure 12.37). You are required to write next to each account name the account, statement and group...
-
A container holds 2.0 mol of gas. The total average kinetic energy of the gas molecules in the container is equal to the kinetic energy of an 8.0 10-3-kg bullet with a speed of 770 m/s. What is the...
-
Inventory costs generally fall into: (a) Sales expenditures. (b) Work in process. (c) Line during the annual physical inventory. (d) Ordering costs and holding costs.
-
FastChips Semiconductors has inventory days of 75, accounts receivable days of 30, and accounts payable days of 90. What is its cash conversion cycle ?
-
Westerly Industries has the following financial information. What is its cash conversion cycle ? Sales ........100,000 Cost of Goods Sold 80,000 Accounts Receivable ..30,000 Inventory ......15,000...
-
Westerly Industries has the following financial information. What is its cash conversion cycle ? Sales ........100,000 Cost of Goods Sold 80,000 Accounts Receivable ..30,000 Inventory ......15,000...
-
1. What is the RMA Industry's ROE? (Answer in terms of %, so 1.23% would just be 1.23). 2. For FYE 2022, what was Steelcase's ROA? (Answer in terms of %, so 1.23% would just be 1.23). 3. For FYE...
-
How does the poet's adept use of imagery serve to transmute the ineffable essence of human experience into a vivid tapestry of sensory perception and emotional resonance?
-
If daily demand is constant at 10 units per day, and lead time averages 12 days with a standard deviation of 3 days, 95 percent service requires how much safety stock?
Study smarter with the SolutionInn App