Question: #10 the answer $4611.60 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel

#10 the answer $4611.60 is provided to us. I need the

#10 the answer $4611.60 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you

10. A $180,000 home loan is obtained for 25 years at 9.0% converted monthly. If the owner can refinance the home after 15 years at 8.4% and keeps the term of the loan the same, determine the total amount the owner will save by refinancing. 11. A borrower needs a $78,000, 25-year loan to buy a house. If the lender charges 3 points on the loan and the interest rate is 6.6% compounded monthly, find: a) the face value of the loan. ( $80,412.37) b) the size of the monthly payment. ($547.99) c) the effective interest rate on the loan to the nearest 0.1%. (7.0%)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Asaya Clothing Inc. is a manufacturer of winter clothes. It has a Knitting department and a Finishing department. This exercise focuses on the Finishing department. Direct materials are added at the...

#10 the answer $4611.60 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you 10. A $180,000 home...

#2 the answer R=$1478.50 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you 2. To pay off a loan...

#2 the answer $804.55 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you 2. A debt of $20,000 will...

#4 the answer 443.44 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you 4. A borrower received...

#4 the answer $8077.80 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you 4. To settle a $18,000...

#2 the answer R=743.04 Balance=$59671.34 Equity=$45328.66 is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed....

#6 the answer $58.06 and 9.24% is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you 6. A loan of...

#8 the answer $1442.84, 6.2% is provided to us. I need the work that shows the steps we took to come up with this answer. Excel and financial calculators are not allowed. Thank you 8. An individual...

3. the herfindahl index will be largest for an industry that is a monopoly. O perfectly competitive. O a duopoly. O monopolistically competitive.

You used sales and number of orders to predict distribution costs at a mail-order catalog business. a. Plot the residuals versus i. b. Plot the residuals versus X1i. c. Plot the residuals versus X2(....

5. If there are any honest politicians, then if all the ballots are counted they will be reelected. Some honest politicians will not be reelected. Th erefore, some ballots will not be counted. (Hx: x...

On March 1, 2019, Ms. Fox acquires a residential duplex for a total cost of $725,000. Of this total, it is estimated that the land has a value of $150,000 at the time of the acquisition. The two...

The output at a certain factory is Q(K, L) = (K 1 3 +L 2 3 ) 2 units per day, where K is the capital needed in $1,000 needed and L is the labor used in 100 person-hours. Currently, $5,000 of capital...

It was 9:05 p.m. and Tyler Simms was facing a dilemma. He was at the office working late, again, completing a report that his boss asked him to have ready for the next morning. She had received the...

Select a core business transaction cycle (for example revenues, purchasing, expenditures, payroll, or the general ledger) that is of personal interest to you. For this core business transaction...

Finally, Reza mentions that he was hired into the CFO role on an interim basis with the possibility of being made permanent based on performance. Although he wants to succeed in this role, he does...

Grocery stores that give free samples of products are using which persuasion technique? A company advertises for a driver who can operate a forklift in small spaces, drive a cement - mixer, and...

Why do you think Neumann went from being a highly acclaimed leader to being fired from his own company?

Explain the success of WeWorks work environment using reinforcement theory.

Using McClellands theory of motivation, explain which need(s) Neumann believes motivates workers.