Question: Using a ba 2 plus calculator If you went to the bank for a 2 5 year, $ 3 3 0 , 0 0 0

Using a ba 2 plus calculator
If you went to the bank for a 25 year, $330,000 mortgage at an interest rate of 7.50% compounding semi-annually and you wanted to give payments monthly (at the end of the period), how much would each of your payments have to be over the 25 years?

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!

Q:

You have almost completed the Kipley Company's Employee Payroll Register for the pay period ending January 8, 20--. In this last task, the following steps will be completed. Requirements: Record the...

Q:

thank you using a ba 2 plus calculator thanks 02.09 26. Mr. Livaditis is offered an interest rate of 4.70% for a "an interest rate of 4.70% for a 30 year mortgage but he is considering paying two...

Q:

I am using the BA 2 Plus calculator. If you can explain how to solve this problem using the calculator I would appreciate it. I'm preparing for my exam so knowing how to do it on the calculator would...

Q:

thank you using a ba 2 plus calculator 4. Mr. Watson buys a home with an ARM. The initial terms for the $385,000 loan are: 30 years amortization, monthly payments. 4.00% annual interest rate for two...

Q:

25 is the question I am stumped on. I'm not sure how to solve for n when I have the present value and future value. I input all the info I have from the previous problems and I get an error. I am...

Q:

if this can also be solved using the BA 2 plus calculator that would be great. A company is evaluating the feasibility of investing in machinery to manufacture an automotive component. It would need...

Q:

Can anyone work these 2 problems out as if you were using a BA 2 plus calculator Oxford recently paid a $3.00 dividend on its common stock. The dividend is expected to grow at a rate of 5.00%. a. If...

Q:

Hello. I'm looking for some help completing my finance project. (10% total course grade) There are quite a few questions. (40 total) I can check the answers one time before submitting. Hoping for...

Q:

7. A $100,000 mortage carries a 9% annual interest rate compounded monthly for a maximum of 30 years. How many monthly payments of $1,000 will it take to pay off the loan in full? 9. Company needs to...

Q:

How do i get YTM on at BA 2 Plus calculator. I know the answer is 7.55 but how do i do this on a BA 2 Plus calculator. i tried using the equation above but still confused. here, we see prices, not...

Q:

I am not getting the answer using my BA II plus calculator. Can someone send me a calculator instruction on how they got the answer please . compu eive rth number er of compounding periods in one...

Q:

(a) Find the direction of the force on a proton (a positively charged particle) moving through the magnetic fields in figure as shown.(b) Repeat part (a), assuming the moving particle is an electron....

Q:

Assume you see an ad with a nominal rate of interest of 10% annually. In the fine print of this ad there is a statement that this 10% will be compounded monthly. Is the effective rate more or less...

Q:

Which of the following best describes a single - payment cash flow? ( 1 pts ) A payment made in installments, with varying amounts each time. A series of equal payments made at regular intervals over...

Q:

Pharoah Company reported the following amounts for 2022: Raw materials purchased $95,200 Beginning raw materials inventory 5,824 Ending raw materials inventory 5,040 Beginning finished goods...