Question: Can someone please help me with this with a detailed explanation? Not only a calculator thank you. Calculate the monthly payment on a mortgage loan.Show

Can someone please help me with this with a detailed explanation? Not only a calculator thank you.

Calculate the monthly payment on a mortgage loan.Show work.

PV of Annuity= 400,000

Interest Rate: 6.31

Periods: 30 Years

Can someone please help me with this with a detailed explanation? Not

only a calculator thank you. Calculate the monthly payment on a mortgage

PV of Annuity =PMTr{1(1+r)n} 400,000=PMT0.0631{1(1+0.0631)365}

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:

The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of...

Q:

MULTIPLE CHOICE 1 Using the recurrence relation t0 = 8, tn+1 = tn + 9, the sixth term would be: A 2 15 B 17 C 23 D 53 E 62 A canoe costs $40 to hire for the first day and $30 for each extra day. If...

Q:

Dear Sir/Madam: please help me with this Math Homework. i have attached all the pics. thank you F G H J K Mini Financial Calculators od boxes are the outputs based on the given inputs above the box....

Q:

Chapter 18 Take Home Packet 1) Solve ALL problems with a financial calculator (NO annuity formulas) - SHOW ALL WORK!! Chapter 18 - Packet a Chapter 18 Take Home Packet 1) Solve ALL. problems with a...

Q:

I need help doing Present Value. Must use all 3 files to answer the questions. Direction: The first 5 pages will teach you about the basics of the present value calculation. Following are three...

Q:

Can someone please help me answer #14-33 all parts. FINC 2400 THOMMESEN Fall 2015 Extra credit financial calculator problems Please fill out the answer sheet on the last page(s), and hand it to me in...

Q:

Chapter 18 Take Home Packet 1) Solve ALL problems with a financial calculator (NO annuity formulas) - SHOW ALL WORK!! I recommend printing this document so that you can easily see everything. Then...

Q:

Can someone please help with these problems? Unsure of the calculations. 2016 Spring2 Financial Concepts Week3 Exercise6 Time Value of Money Student Name: Instructions Note: Unless otherwise stated,...

Q:

SOMEONE PLEASE HELP ME GIVE ALL THE ANSWERS!!!!! MY EXAM IS ON 13th MORNING! SO PLEASEEEEE!!!!! 2. An investment is expected to pay the following: C 1 = $2,300, C 2 = $2,600, C 3 = $2,900, and then...

Q:

I'm in serious need of help in my accounting class (acc205) . I'm falling behind and I need help with this weeks assignment. for week three for the may-june month . can someone please help me ....

Q:

i already got an answer to this but it was in correct can someone please help me do this in proper format thank you so much! instructions Transactions Additional Information Lenny's Lawn Service,...

Q:

Given the standard matrix B: [1 B = 2 Lo 5 -1 4 0 3 -21 a) Give the domain and codomain of the matrix transformation induced by B. b) Give the domain and codomain of the matrix transformation induced...

Q:

How much would you be willing to pay for an investment fund that is expected to generate $1,000 at the end of two years, $1,500 at the end of three years, and $2,000 at the end of four years if you...

Q:

1. Using the value 35, write it as an integer literal in decimal, hexadecimal, octal, and binary formats that are consistent with MASM syntax.

Q:

Which of the following are problems with identifying users of ABC? Multiple select question. ABC means different things to different organizations. Organizations will announce the discontinuance of...

Q:

(Appendices) Why are adjustments made to the gross purchase price of goods acquired for resale? LO90

Q:

(Appendices) Identify the accounting items for which adjustments are made to the purchase price of goods acquired for resale when determining the cost of purchases. Assume that the firm uses the...

Q:

(Appendices) Name the two allowance methods used to compute uncollectible account expense. For each method, how is uncollectible account expense computed and what does the balance of the allowance...