Question: please explain the work You put 20% down on a home with a purchase price of $250,000. The down payment is thus $50,000, leaving a

please explain the work You put 20% down on a home with please explain the work

You put 20% down on a home with a purchase price of $250,000. The down payment is thus $50,000, leaving a balance owed of $200,000. The bank will loan the remaining balance at 3.91% APR. You will make annual payments with a 30 year payment schedule. What is the annual annuity payment under this schedule? A. $11,439.96 B. $6,666.67 C. $18,100.23 D. $11,009.49

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!

Please solve in excel You put 20% down on a home with a purchase price of $250,000. The down payment is thus $50,000, leaving a balance owed of $200,000. The bank will loan the remaining balance at...

You put 20% down on a home with a purchase price of $250,000. The down payment is thus $50,000, leaving a balance owed of $200,000. The bank will loan the remaining balance at 3.91% APR. You will...

please help with all parts of questions 1-8 from creating the balance sheet and income statement... to calculating the ratios, interpreting those ratios , and whether or not she can achieve her...

Hello, Please help in creating a balance sheet ( question 1) and a cash flow (question 2). This is for a couple and the purpose is for financial planning and budgeting. The information, their...

Hello, I have the following questions below. Question 1 is to produce a personal balance sheet for financial planning purposes. Question 2 is to create a cash flow for the same purpose. The...

Crystal Gomez Case Study Spring 2019 Crystal Gomez1 is a young single mother living in the Edinburg, Texas. At age 34, she is working as a Certified Pharmacy Technician within the pharmacy at The...

Please help! I am supposed to use the January 1st , 2019 asset and liability information, in order to develop a balance sheet. (Assuming no unpaid bills). Assets on a balance sheet should be listed...

Ontario Fun Space (OFS) is a privately owned entertainment complex consisting of a theme park, concert venue, and marina in Lions Head, Ontario. OFS was founded in 1988 by a group of 10 local...

My teacher edited my project with red comments and I am struggling with how to correct those mistakes within my project. The Goldsteins Risk Management and Insurance portfolio Table of Contents Page...

(46 Marks) On 31 January 2017 Janine Youngman, 56 years old, resigned as an employee of Sport-Gear Limited. She had been employed as a buyer for the companys teenage range of goods since 2010. Upon...

Prepare the Cash Budget for January, February, and March 2022. Comment on the cash position of the company for the budgeted period. INFORMATION 1. Some of the items in the Statement of Financial...

Can you make any sense of the proposition that the rule of first possession is a principle of natural justice?

The balance sheet, the statement of cash flows, and the _ _ _ _ _ _ _ _ _ _ Blank are three key financial statements prepared by accountants.

782. The founders of the United States envisioned a system that would protect and sustain both economic and political freedom. The government has a limited role in economic matters. Individual buyers...