Question: Question 44 (2 points) Based on the following information, please answer questions 8-9 Suppose you are buying your first house for $450,000 with a 15%

Question 44 (2 points) Based on the following information, please answer questions 8-9 Suppose you are buying your first house for $450,000 with a 15% down payment. You have arranged to finance the remaining amount with a 30-year, monthly payment, amortized mortgage at a 3% nominal interest rate. For the 120th payment, what is the break down between principal payment vs. interest payment, respectively? 1) $883.49: 5729.15 2) $786,34: $1,151.73 3) 5613.19; $729.15 4) $883.48: $1,000.00

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!

In 2021, Ryan Management collected rent revenue for 2022 tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as revenue in the period tenants...

1. Chapter 12Accounting for Partnerships and Limited Liability Companies Question MC #87 (Points: 1.8) Partners Ken and Macki each have a $40,000 capital balance and share income and losses in a 3:2....

1. Chapter 12Accounting for Partnerships and Limited Liability Companies Question MC #63 (Points: 1.75) Benson and Orton are partners who share income in the ratio of 2:3 and have capital balances of...

PLEASE PROVIDE FORMULAS AND STEP-BY-STEP. THANK YOU. Assignment 4 1. Suppose you run a multivariate regression and one of the coefficients is not statistically significant at any of the usual...

PLEASE PROVIDE FORMULAS AND STEP-BY-STEP WORK. THANK YOU. 1. Suppose you run a multivariate regression and one of the coefficients is not statistically significant at any of the usual significance...

Please answer me page 51 to page 56 on the attachment. is a multiple choice questions. Thank you FAC1502/101/3/2016 Tutorial letter 101/3/2016 Financial accounting concepts, principles and procedures...

Final_Exam_Macro Question 1 (2 points) Purchasing-power panty theory does not hold at all times because many goods are not easily transported and the same goods produced in different countries may be...

STAT 1222 Spring 2012 Common Final Exam May 3, 2012 Please print the following information: Instructor: Name: Student ID #: Section/Time: THIS EXAM HAS TWO PARTS PART I. Consists of 30 multiple...

1. Which of the following is most closely associated with the terms "primary trend" intermediate trend," and "short-term trend? a) Candlestick chart b) Bar chart Dow Theory d) Channel e) Market...

I need help on questions 12-15 in section 5. Could you also explain how you solved them 1 Sample Questions from Previous FIN 3310 Departmental Final Exams (Revised 2015) Printed below is a sampling...

Please answer these SUMMARY OUTPUT Regression Statistics Multiple R 0.8655 R Square Adjusted R Square Standard Error 44.8082 Observations 18 ANOVA df SS MS F Significance F Regression 3 83,948.96...

St. Cloud Manufacturing, Inc., issued five-year, 9.2 percent bonds with a total face value of $500,000 on December 31, 2008, for $484,000. The bonds pay interest on June 30 and December 31 of each...

Cindy and Jack have always practiced good financial habits, in particular, developing and living by a budget. They are currently in the market to purchase a new car and have budgeted $ 300 per month...

vOf the salaries payable, $30,000 was owed to an officer of the company. The remaining amount was owed to salaried employees who had not been paid within the previous 80 days: John Webb was owed...

3. Present value of an annuity Find the present values of these ordinary annuities. Discounting occurs once a year. A. $400 per year for 10 years at 10% B. $200 per year for 5 years at 5% C. $400 per...