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Business, 13.07.2019 06:10, kealinwiley

House loan. suppose you take out a home mortgage for $180,000 at a monthly interest rate of 0.5%. if you make payments of $1000/month, after how many months will the loan balance be zero?

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Mathematics, 22.07.2019 05:30, christopherschool04
Suppose that 10 years ago you bought a home for $170,000, paying 10% as a down payment, and financing the rest at 9% interest for 30 years. your existing mortgage (the one you got 10 years ago) how much money did you pay as your down payment? how much money was your existing mortgage (loan) for? what is your current monthly payment on your existing mortgage? how much total interest will you pay over the life of the existing loan? this year (10 years after you first took out the loan), you check your loan balance. only part of your payments have been going to pay down the loan; the rest has been going towards interest. you see that you still have $136,827 left to pay on your loan. your house is now valued at $200,000. your current situation how much of the original loan have you paid off? (i.e, how much have you reduced the loan balance by? keep in mind that interest is charged each month - it's not part of the loan balance.) how much money have you paid to the loan company so far (over the last 10 years)? how much interest have you paid so far (over the last 10 years)? how much equity do you have in your home (equity is value minus remaining debt) refinancing since interest rates have dropped, you consider refinancing your mortgage at a lower 6% rate. if you took out a new 30 year mortgage at 6% for your remaining loan balance, what would your new monthly payments be? how much interest will you pay over the life of the new loan? analyzing the refinance notice that if you refinance, you are going to be making payments on your home for another 30 years. in addition to the 10 years you've already been paying, that's 40 years total. how much will you save each month because of the lower monthly payment? how much total interest will you be paying (consider the interest you paid over the first 10 years of your original loan as well as interest on your refinanced loan)
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Computers and Technology, 06.10.2019 04:00, AceGravity
When you borrow money to buy a house, a car, or for some other purpose, you repay the loan by making periodic payments over a certain period of time. of course, the lending company will charge interest on the loan. every periodic payment consists of the interest on the loan and the payment toward the principal amount. to be specific, suppose that you borrow $1000 at the interest rate of 7.2% per year and the payments are monthly. suppose that your monthly payment is $25. now, the interest is 7.2% per year and the payments are monthly, so the interest rate per month is 7.2/12=0.6%. the first month; s interest on $1000 is 1000 * 0.006=6. because the payment is $25 and interest for the first month is $6, the payment toward the principal amount is 25-6=19. this means after making the first payment, the loan amount is 1000-19=981. for the second payment, the interest is calculated on $981. so the interest for the second month is 981 * 0.006=5.886, that is, approximately $5.89. this implies that the payment toward the principal is 25-5.89=19.11 and remaining balance after the second payment is 981-19.11=961.89. this process is repeated until the loan is paid. write a program that accepts as input the loan amount, the interest rate per year, and the montly payment. (enter the interest rate as a percentage. for example, if the interest rate is 7.2% per year, then enter 7.2) the program then outputs the number of months it would take to repay the loan. (note that if the monthly payment is less than the first month's interest, then after each payment, the loan amount will increase. in this case, the program must warn the borrower that the monthly payment is too low, and with this payment, the loan amount could not be repaid.)best answer
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House loan. suppose you take out a home mortgage for $180,000 at a monthly interest rate of 0.5%. if...

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