Johnny took out a $500,000, 30-year mortgage with an APR of 4.15%. The first month he made

Question:

Johnny took out a $500,000, 30-year mortgage with an APR of 4.15%. The first month he made an extra payment of $1,000. What was his balance at the end of that first month?

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

Step by Step Answer:

Related Book For answer-question

Financial Algebra Advanced Algebra With Financial Applications

ISBN: 9781337271790

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

See More Books

Question Posted: Sep 19, 2022 03:07 AM

See More Questions

Johnny took out a $500,000 30 year mortgage with an APR of 6.95%. The first month he made an extra payment of $1,000. What was his balance at the end of the first month?
Johnny took out a $500,000, 30-year mortgage with an APR of 4.15%. The first month he made an extra payment of $1,000. What was his balance at the end of that first month?
Blanche bought a 5-year CD for $7100 with an APR of 2.8%, compounded quarterly, but she wants to take all her money out 9 months early. The early redemption fee for the CD is 3 months' interest on...
Given: Pre-tensioned cables AB and AD, having tensions of 27 and T, respectively, are attached to end A of the L-shaped bracket and exert forces of FAB and FA AD; respectively, on the bracket due to...
Given two distributions with the following characteristics: Distribution ADistribution B = 45,600. = 6,333 = 33.40.. = 4.05 If a value from distribution A is 50,000 and a value from distribution B...
Pearl E. White Orthodontist specializes in correcting misaligned teeth. During 2021, Pearl provides services on account of $590,000. Of this amount, $80,000 remains receivable at the end of the year....
Can you present a graphic that presents the payroll disbursement amounts by date for the contact employee who has been terminated but has been paid after termination (i.e., ghost employees)?
On pages 279-280 are statements of earnings and financial position for Wexler Industries. Required a. Use professional judgment in deciding on the preliminary judgment about materiality for earnings,...
Assume the company is transitioning from a traditional file environment to a database management system / relational database. - Describe and explain the challenges / issues in transitioning from a...
Jon Williams, CPA, is in the middle of the real- life soap opera, Taxing Days of Our Lives. The Cast of Characters Oneway Corporation is Williamss audit and tax client. The three directors are the...
On February 20, 2012, Hooke Inc., purchased a machine for $1,200,000 for the purpose of leasing it. The machine is expected to have a 10-year life, no residual value, and will be depreciated on the...
The Lennon family is renting an outdoor movie screen for their backyard party. The screen is 12 feet high, and it needs to be tethered to the ground with four guy wires 15 feet long. a. How far from...
Consider the following descriptions of the vertical motion of an object subject only to the acceleration due to gravity. Begin with the acceleration equation a(t) = v'(t) = g, where g = -9.8 m/s 2 ....
Anne Berkowitch, co-founder and former chief executive of SelectMinds, discussed how her approach to hiring new employees has evolved: I started out recruiting for skills that I knew I didnt have and...
You will conduct two or three informational interviews. Identify some professionals who work in positions you aspire to hold or who do work that you aspire to engage in. Set up 30-minute to 1-hour...
Bianca Genova has worked hard to make networking events for LinkedB2B more attractive to members. She developed a speaker series as one strategy to attract members to attend the events. Several...
In a survey of corporate employees, 76 percent thought it was OK to friend another employee who was a peer. Only 35 percent thought it was OK to friend a supervisor, and only 30 percent thought it...
Recently, Samantha Parkinson, a marketing intern, sent a message to Bianca Genova, her boss, about changing the pricing model for a social networking platform. Bianca was upset when she read...
The manufacturer of Ice Melt claims that its product will melt snow and ice at temperatures as low as 0 Fahrenheit. A representative for a large chain of hardware stores is interested in testing this...
What is a content filter? Where is it placed in the network to gain the best result for the organization?
Suppose we conduct a study of the preceding hypothesis based on 20 participants. What is the probability we will be able to reject H0 using a one-sided test at the 5% level if the true mean and...
State the hypotheses to use in answering this question? Occupational Health The proportion of deaths due to lung cancer in males ages 1564 in England and Wales during the period 19701972 was 12%....
Is a one-sided or two-sided test appropriate here? Occupational Health The proportion of deaths due to lung cancer in males ages 1564 in England and Wales during the period 19701972 was 12%. Suppose...
Mrs Williams is a salesperson handling a line of industrial products throughout Western Canada. During 2 0 2 3 , she is paid a salary of $ 4 4 , 8 0 0 and receives sales commissions of $ 2 7 , 7 0 0...
Differentiate the construction of the tower of Pisa and Leaning Bad Frankenhausen Church Tower.
Customers who use automatic teller machines ( ATM ) can perform several transactions quickly and efficiently. A banking consultant has noted that the times to complete a transaction are normally...

Johnny took out a $500,000, 30-year mortgage with an APR of 4.15%. The first month he made

Question:

Step by Step Answer:

Financial Algebra Advanced Algebra With Financial Applications

Students also viewed these Mathematics questions