Question: o Loan type: Mortgage o Interest rate: ____________ o Initial term: 30 years o Remaining term: 26 years o Initial cost of home: $485,000 20%

o Loan type: Mortgage o Interest rate: ____________ o Initial term: 30 years o Remaining term: 26 years o Initial cost of home: $485,000 20% down payment o Remaining balance: $____________ o Monthly Payment: $1,825.63

current value of property is 780,000

Find interest rate and remaining balance please!

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!

Sue died on May 3, 2022. On October 1, 2018, Sue gave her son Tom land valued at $17,015,000. Sue applied a unified credit of $4,417,800 against the gift tax due on this transfer. On Sues date of...

calculate interest rate and remaining balance o Interest rate: 3.89 o Initial term: 30 years o Remaining term: 26 years o Initial cost of home: $485,000 20% down payment o Remaining balance:...

Real Estate Finance homework. Attached is a file for my homework. The questions must be answered in EXCEL and formulas must be used for the answers. Real Estate Finance Business 422 Please use use...

123please help me with this Winter 1, 2013 7/22/2012 Chapter 4. Ch 04 P35 Build a Model Except for charts and answers that must be written, only Excel formulas that use cell references or functions...

MATH AS18 Project 1 Personal Finance Using Discrete Dynamical Systems This project is an individual effort, but you may discuss your final answers. You should, however, do your own Excel work and...

-3- QUESTION 4: Vivian & Eric Tsang are planning to buy a bigger house in Ajax for $650,000. Property taxes are currently $6,000 p.a. on this house. Their current house is fully paid and they can...

QUESTION 4: Vivian & Eric Tsang are planning to buy a bigger house in Ajax for $650,000. Property taxes are currently $6,000 p.a. on this house. Their current house is fully paid and they can sell it...

PYTHON 2) (amoritization.py) In assignment #2, you created a program to calculate the monthly payment for a loan, given the starting amount, annual interest rate (APR) and term (in years). An...

I just want to remind you that all output formatting is done with fstrings. You should not be needing to use tabs (\t) in programs. 2) (amoritization.py) In assignment #2, you created a program to...

Jessie just started a new job with a significant increase in salary above what she was earning when she originally negotiated her student loan repayment. The salary increase affords her the...

Review all the information you have learned about Nick and Karen. Decide what goals you will need to solve for in your financial plan. Write each goal out as a S.M.A.R.T. goal. Remember, some goals...

Aji Fatou owns a rental space in New York and is thinking of opening a restaurant in that space. The total cost of operating the restaurant is C(Q) = 20Q, where Q is the number of customers at the...

1. How have social media sites such as Twitter changed communication? 2. What is cloud computing, and how is it changing business? 3. List and concisely describe at least six electronic communication...

Is our false? Coefficient a variation measures relative risk, all of these are false, the risk of a portfolio is a weighted average of the individual assets standard deviations, nonsystematic risk,...

A corporate bond matures in 14 years. The bond has an 8 percent coupon and a par value of $1,000. Interest is paid semiannually. The bond is priced to yeild 6.0%. What is the bond's current price?...

The RAND HIE found that people assigned to the free health plan had the same rate of hospitalization as people assigned to the cost-sharing plans.

Unlike with most types of goods, deriving a demand curve for health care is quite simple because people rarely skimp on health care.

The RAND study was especially useful for measuring price elasticities because it randomly assigned insurance plans to participants (as opposed to letting them choose).