Sylvia is going to buy her first house. She will borrow a $719,000 28-year 9.7% mortgage. How much is her monthly mortgage instalment, if she decides to pay off the mortgage in 28 years exactly and the payment is made at the end of each month?

You are given an income stream till infinity. The first payment, $1,019, is made in one year. Each subsequent annual payment will increase by 3.76%. If the interest rate is 10.58%, what is the present value of this income stream?

You set up a saving plan in which you deposit $910 at the beginning of each year. How much money will you accumulate at the end of year 14, if the account pays 3.45% pa compounded annually?

 

Answer rating: 100% (QA)

1 Monthly Mortgage Installment To calculate Sylvias monthly mortgage installment we can use the form... View the full answer