Question: Cersei took out a 1 2 - year fully amortizing constant payment mortgage of $ 5 2 0 2 0 8 to buy an apartment.

Cersei took out a 12-year fully amortizing constant payment mortgage of $520208 to buy an apartment. The nominal interest rate of the mortgage equals 9.94% p.a., compounded monthly.
Her monthly payment equals $____. Keep at least two digits after the decimal point.

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:

1.A homeowner purchases a property for $1,000,000. She finances the purchase with an 80% LTV, 30-year fully amortizing graduated payment mortgage (GPM) carrying a 10% interest rate. A 20% rate of...

Q:

Hello I'm having trouble with the mortgage questions. Please help me how we solve those 3 questions. Thank you 1. You wish to purchase a property for $600,000 and need to acquire a mortgage to...

Q:

[15] A constant payment (aka level payment) mortgage for $300,000 is to be made for 30 years at a contract rate of 6%. The loan is fully amortizing, all payments are monthly and are made according to...

Q:

A NOK 5 million, fully amortizing, constant payment mortgage (CPM) loan at 4% interest was granted 10 years ago. The loan has another 10 years until maturity. Payments of interest and principal are...

Q:

Cersei took out a 12-year fully amortizing constant payment mortgage of $567341 to buy an apartment. The nominal interest rate of the mortgage equals 7.14% p.a., compounded monthly. Her monthly...

Q:

In the years following the 2008 financial crisis, the fraction of residential mortgages in foreclosure reached around Question 6 Betty bought a house for $56.98 million with a mortgage loan. She put...

Q:

Cersei took out a 12-year fully amortizing constant payment mortgage of $ 568734 to buy an apartment. The nominal interest rate of the mortgage equals 8.61 % p.a., compounded monthly. Her monthly...

Q:

Amortization Schedules This project requires you to elaborate an amortization schedule for two types of loans, a fully amortizing constant payment mortgage (CPM) loan and a constant amortizing (CAM)...

Q:

Amortization Schedules This project requires you to create an amortization schedule for two types of loans, a fully amortizing constant payment mortgage (CPM) loan and a constant amortizing (CAM)...

Q:

all parts please Amortization Schedules This project requires you to create an amortization schedule for two types of loans, a fully amortizing constant payment mortgage (CPM) loan and a constant...

Q:

Assume that B = $200 000, r = 1 year, i = 7%, d = 0.9, N(h1) = 0.174120 and N(h2) = 0.793323. Using Moody's KMV Credit Monitor model, what is the required risk premium on the loan (round to two...

Q:

Before year-end adjusting entries, Susan Corp.'s account balances at December 31, 2016, for accounts receivable and the related allowance for uncollectible accounts were $1,250,000 and $95,000,...

Q:

You work for an outdoor play structure manufacturing company and are trying to decide between two projects:Calculate the crossover rate and NPV at the crossover rateDraw the NPV profile of the two...

Q:

Evaluate a scenario regarding interim reporting ( ASC 1 3 - 1 ) . Include the following details in your response: Determine if the codification allows for exceptions at interim reporting dates....

Q:

2. What process will you put in place to address conflicts?

Q:

3. When I talk to team members, I can gauge their true feelings from their body language.

Q:

1. What were the elements of teamwork that proved so important in the situation?