A constant payment, fully amortizing mortgage loan is made for $100,000 at 8 percent interest for...

 

Transcribed Image Text:

A constant payment, fully amortizing mortgage loan is made for $100,000 at 8 percent interest for 30 years. What would payments be if they are calculated monthly (rounded to the nearest dollar)? 733.76 Question 8 (10 points) In question 7, what would payments be if they are calculated annually (rounded to the nearest dollar)? A Question 9 (10 points) In question 7, what would payments be if they are calculated weekly (rounded to the nearest dollar)? A/ Question 10 (10 points) Regarding problem 7, how much total interest would be paid over the entire 30 year life of the mortgage if payments are compounded monthly (rounded to the nearest dollar)? A/ 12 Question 11 (10 points) Regarding question 7, how much total interest would be paid over the entire 30-year life of the mortgage if payments are calculated annually (rounded to the nearest dollar)? A/ A constant payment, fully amortizing mortgage loan is made for $100,000 at 8 percent interest for 30 years. What would payments be if they are calculated monthly (rounded to the nearest dollar)? 733.76 Question 8 (10 points) In question 7, what would payments be if they are calculated annually (rounded to the nearest dollar)? A Question 9 (10 points) In question 7, what would payments be if they are calculated weekly (rounded to the nearest dollar)? A/ Question 10 (10 points) Regarding problem 7, how much total interest would be paid over the entire 30 year life of the mortgage if payments are compounded monthly (rounded to the nearest dollar)? A/ 12 Question 11 (10 points) Regarding question 7, how much total interest would be paid over the entire 30-year life of the mortgage if payments are calculated annually (rounded to the nearest dollar)? A/

Answer rating: 100% (QA)

To calculate the monthly payment for a fully amortizing mortgage loan of 100000 at 8 percent interes... View the full answer