Question: Assuming you only make the required monthly payments, how much will you still owe on 30 year mortgage at the end of 235 months. Assume

Assuming you only make the required monthly payments, how much will

Assuming you only make the required monthly payments, how much will you still owe on 30 year mortgage at the end of 235 months. Assume an initial principal amount of 400,349 and an APR of 4% with monthly compounding. Question 3 1 pts How much will you need to deposit at the end of each of the next 134 months if you hope to save $1,658,138 ? Assume that you can earn 7% APR compounded monthly on your savings. Round your final answer to two decimals

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!

Q:

INTERACTIVE: Lease vs Buy Car Calculator Let's take a look at a specific example of the total cost to buy or lease the same car. We'll assume that you're buying a new $35,000 car, making a $3,000...

Q:

Assuming you only make the required monthly payments, how much will you still owe on 30 year mortgage at the end of 202 months. Assume an initial principal amount of 608,475 and an APR of 6% with...

Q:

Assuming you only make the required monthly payments, how much will you still owe on 30 year mortgage at the end of 139 months. Assume an initial principal amount of 525,587 and an APR of \3 with...

Q:

Assuming you only make the required monthly payments, how much will you still owe on 30 year mortgage at the end of 193 months. Assume an initial principal amount of 515,392 and an APR of \8 with...

Q:

Assuming you only make the required monthly payments, how much will you still owe on a 3 0 - year mortgage at the end of 1 2 0 months? Assume an initial principal amount of $ 5 0 0 , 0 0 0 and an APR...

Q:

Assuming you only make the required monthly payments, how much interest will you you pay over the life a 3 0 - year mortgage? Assume an initial principal amount of $ 7 0 0 , 0 0 0 and an APR of 7 %...

Q:

Exercises Show your work and write your answers on a separate piece of paper. Do not attempt to do the work in the spaces between problems. Skills 1. A friend lends you $200 for a week, which you...

Q:

Case attached. Question to be answered 1. What are the monthly payments for 30 year traditional loan ? What are the payments for a 20 year traditional loan ? 2. Prepare an amortization table for the...

Q:

3 years Syears 1 year 10 years Term Rate (EAR %) 1 year 1.99 2 years 7.34 332 376 4.14 What is the present value of an investment that pays 397 at the end of each of years 1,2, and 37 # you wanted to...

Q:

CASE 2 QUESTIONS 1. Show both the 30-year and 15-year amortization schedules (Periods, PMT, IPMT, PPMT, BALANCE), how much in monthly payments he would have paid assuming he pays 20% of the house...

Q:

Julie wishes to begin making monthly deposits into a savings account which earns 5% interest annually. If she intends to have saved $8,500 by the end of 3 years, how much must she deposit each month?...

Q:

Suppose that you consume nothing but beer and pizza. In 2010, your income is $10 per week, beer costs $1 per bottle, pizza costs $1 per slice, and you buy 6 bottles of beer and 4 slices of pizza per...

Q:

Brent Landry Company reported these ratios at December 31, 2010 (dollar amounts in millions): Brent Landry Company completed these transactions during 2011: a. Purchased equipment on account, $6 b....

Q:

Consider a discount bond that pays $ 1 , 0 0 0 when it matures in ten years. If you require a yield to maturity of 1 0 % , the value of that bond today ( i . e the price you should be willing and...

Q:

Write assembly language equivalent to the case/switch statement switch(a) { case -1: b=1: break: case 0: b=2: break: case 1: b=3: break: default: b=0: } Assume EAX holds a, EBX holds b. Use comments...