What is the total amount of a 30-year mortgage with monthly payments of $850?
Question:
What is the total amount of a 30-year mortgage with monthly payments of $850?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
360 payments 30 ...View the full answer
Answered By
Gaurav Soni
Teaching was always an area where I can pursue my passion. I used to teach my friends and junior during my school and college life. After completing my professional qualification (chartered accountancy) and before joining my job, I also joined an organization for teaching and guidance to my juniors. I had also written some articles during my internship which later got published. apart from that, I have also given some presentations on certain amendments/complex issues in various forms.
Linkedin profile link:
https://www.linkedin.com/in/gaurav-soni-38067110a
5.00+
7+ Reviews
13+ Question Solved
Related Book For
Personal Finance
ISBN: 9781264101597
14th Edition
Authors: Jack Kapoor, Les Dlabay, Robert Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
A mortgage is a loan used to purchase a home. It is usually paid back over a period of 15, 20, or 30 years. The interest rate is determined by the term of the loan (the length of time to pay back the...
-
You have located a home that you wish to purchase and wish to evaluate bank financing options in order to determine your budget. Youve been working with a few banks on potential mortgage terms and...
-
You are ready to purchase a new home that sells for $354,000. You have been working hard and have accumulated a 20% down payment. You will borrow the remaining amount. The best mortgage rate you can...
-
You borrowed $325000 using a 30- year fixed rate mortgage with a 5.25% interest rate: A) What is your schedule monthly payment? B) What is the amount of interest and principal paid with the first...
-
A fire destroys all of the merchandise of Rosanna Arquette Company on February 10, 2008. Presented below is information compiled up to the date of the fire. Inventory, January 1, 2008 ..... $ 400,000...
-
Canva has been making lists of best places to work in both Australia and the Philippines. It has also been growing fast along with its OB fame. Launching in 2012 as a design company, by 2022 Canva...
-
The van Laar equation is useful in determining the activity co-efficient of \(a / a n\) (a) Azeotropic mixture (b) Ternary solution (c) Binary solution (d) None of these.
-
Freeman Electronics currently produces the shipping containers it uses to deliver the electronics products it sells. The monthly cost of producing 10,000 containers follows. Unit-level materials...
-
Novak Corp. owns and operates a number of outdoor clothing retail stores in the Pacific Northwest. Recently, the company has decided to locate another store in a rapidly growing area of Idaho. The...
-
The steam cycle of a marine nuclear propulsion plant may be modeled as an ideal Rankine cycle. a . Using the information provided below determine the enthalpy of the working substance in each state....
-
As their apartment rent increased each year, Zoe and Luis Martinez started thinking about buying a home. For a slightly higher amount each month, they could become homeowners. However, their student...
-
If youre uncertain where to live over the next three to five years, you should probably rent; otherwise, you might buy a home. To determine if you can afford to buy, estimate monthly housing costs...
-
Which of the following statements is true? a. VPNs protect the confidentiality of in- formation while it is in transit over the Internet. b. Encryption limits firewalls' ability to filter traffic. c....
-
A review of the accounting records of Thornton Manufacturing indicated that the company incurred the following payroll costs during the month of March. Assume the company's financial statements are...
-
Fisher Fixtures manufactures three types of lighting fixtures, with model names of Silver, Gold, and Platinum. It applies all indirect costs according to an annual predetermined rate based on direct...
-
Come-Clean Corporation produces a variety of cleaning compounds including Grit 337 and Sparkle silver polish. Grit 337 is a coarse cleaning powder that costs $1.20 a pound to make and sells for $7.60...
-
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales Variable expenses...
-
Joselo purchased his primary residence for $ 2 8 0 , 0 0 0 . As part of the closing procedure, he paid $ 2 , 9 0 0 in loan origination fees, $ 7 5 0 to a lawyer to review the purchase contract and...
-
The U.S. Bureau of Labor Statistics publishes data on the benefits offered by small companies to their employees. Only 42% offer retirement plans while 61% offer life insurance. Suppose 33% offer...
-
TRUE OR FALSE: 1. Banks with a significantly large share of fixed-interest rate home loans are less exposed to interest rate risks. 2. Although Australian banks are pretty big, they are not...
-
Which method for determining the outstanding balance on a revolving credit account is likely to determine the lowest outstanding balance? Which method is likely to determine the highest outstanding...
-
List steps you can take to protect yourself against credit card fraud. What is your liability limit on a lost or stolen credit card?
-
Suppose you review your monthly statement of credit card activities and discover that you have been charged for an item you didnt buy. What should you do?
-
On June 1 , 2 0 1 9 , Kris Storey established an interior decorating business, Eco - Centric Designs. During the month, Kris completed the following transactions related to the business: June 1 ....
-
Sunland video center accumulates the following cost and net realizable data at December 3 1 . Date Number of unit Unit cost May 7 4 5 $ 1 2 July 2 8 3 0 1 6 On june 1 , Vaughn sold 2 5 units and on...
-
Scotty Scooters plans to sell a motorized standard scooter for $ 4 5 and a motorized chrome scooter for $ 6 5 . Scotty Scooters purchases the standard scooter for $ 3 5 and the chrome scooter for $ 4...
Study smarter with the SolutionInn App