What is the monthly payment on a $150,000, 15-year mortgage if the mortgage rate is 5.75 percent?
Question:
What is the monthly payment on a $150,000, 15-year mortgage if the mortgage rate is 5.75 percent? 6.25 percent? 7.5 percent? 9 percent?
Transcribed Image Text:
Present Value $150,000 150,000 150,000 150,000 Periods 15 x 12 15 x 12 15 x 12 15 x 12 Interest Rate 5.75%/12 6.25%/12 7.50%/12 9.00%/12 仆 The Payment Will Be $1,245.62 1,286.13 1,390.52 1,521.40
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (10 reviews)
Payment 1245...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Financial Markets And Institutions
ISBN: 9781264098729
8th Edition
Authors: Anthony Saunders, Marcia Cornett
Question Posted:
Students also viewed these Business questions
-
What is the monthly payment on a 30-year fixed-rate mortgage if the original balance is $220,000 and the rate is 6.3 percent?
-
What is the monthly payment on a $150,000, 30-year mortgage if the mortgage rate is 5.75 percent? 6.25 percent? 7.5 percent? 9 percent? Present Value $150,000 150,000 150,000 150,000 Periods 30 x 12...
-
What is the monthly payment on a 15 -year mortgage loan of $ 110,000 if the annual interest rate is 4.5%? How much interest was paid on this loan?
-
You are the manager of Fun World, a small amusement park. The accompanying diagram shows the demand curve of a typical customer at Fun World. a. Suppose that the price of each ride is $5. At that...
-
Transaction Analysis; Journal Entries; Adjusting Journal Entries. Jester Entertainment Company began operations on January 1, 2015. The company had the following transactions in its first year of...
-
Cullumber Company, a machinery dealer, leased a machine to Ivanhoe Corporation on January 1, 2025. The lease is for an 8-year period and requires equal annual payments of $30,840 at the beginning of...
-
Contrast the purposes of (a) the preliminary review, (b) the preliminary review assessment, (c) completion of the review, and (d) the completion of review assessment.
-
Blanton Plastics, a household plastic product manufacturer, borrowed $14 million cash on October 1, 2011, to provide working capital for year-end production. Blanton issued a four-month, 12%...
-
three articles (whether it's from Google or from an academic source, or both) that talk about the people-side of process improvement, whether the authors lean toward improving people/culture to...
-
Case Application 11: RETHINKING COMPENSATION AT FIRST MERITBANK Christopher Maurer, executive vice president for human resourcesat FirstMerit Bank headquartered in Akron, Ohio, needed to solve amajor...
-
What is a bond indenture?
-
What are the differences among T-bills, T-notes, and T-bonds?
-
What happens to quantity supplied when price is lowered? a) It rises. b) It falls. c) It stays the same. d) It cannot be determined if it rises, falls, or stays the same.
-
Find the probability of randomly selecting 2 different challenges and finding that they were both accepted challenges made by female players. Use the following results from the 839 player challenges...
-
Find the probability of randomly selecting 1 of the 839 challenges and getting a challenge that was accepted and was made by a female player. Use the following results from the 839 player challenges...
-
If 1 of the 839 challenges is randomly selected, find the probability of getting a challenge that was made by a male player or was rejected. Use the following results from the 839 player challenges...
-
Find the probability of being sentenced to prison, given that the subject entered a plea of guilty. Use the data in the accompanying table based on data from Does It Pay to Plead Guilty? Differential...
-
Find the probability of randomly selecting 1 of the 839 challenges and getting a challenge that was accepted, given that it was made by a female player. Use the following results from the 839 player...
-
Explain why the electron affinity of nitrogen is approximately zero, while the elements on either side, carbon and oxygen, have substantial positive electron affinities.
-
The diagram shows the two forces acting on a small object. Which of the following is the resultant force on the object? A. 8 N downwards B. 8 N upwards C. 2 N downwards D. 2 N upwards 3 N 5 N
-
How has the U. S. governments sponsorship of FNMA and FHLMC affected their operations? Describe the problems these two GSEs have experienced over the last 10 years.
-
Describe a collateralized mortgage obligation. How is a CMO created?
-
What is a mortgage-backed bond? Why do financial institutions issue MBBs?
-
If employee costs were distributed equally for both WebLink and KH Connect, for which company, and for which year, was the highest employee cost per city?
-
S dx Evaluate ( +1) x(x+1)
-
Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $65. Budgeted unit sales for June, July,...
Study smarter with the SolutionInn App