Business, 25.02.2020 16:21, 21hendlill

You purchase a house that costs $625,000 with an 8%, 30-year mortgage. You make a 20% down payment to avoid PMI insurance.

What is your monthly payment?
Amortize the first and second payments.
What is the mortgage balance after 5 years?
What percentage of the principal is paid off after 5 years?
Suppose after 5 years you refinance at 6% the remaining balance at a cost of
$10,000, for 30 years. What is your new monthly payment?
Further, suppose you maintain the same payments as in (1), i. e. pre-pay on the principal, how many YEARS until you payoff the mortgage?

Answers: 1

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, Deascry

In the rbv are defined as the tangible and intangible assets that a firm controls that it can use to conceive and implement its strategies. answers: management policies

Answers: 1

continue

Business, 22.06.2019 11:00, pum9roseslump

While on vacation in las vegas jennifer, who is from utah, wins a progressive jackpot playing cards worth $15,875 at the casino royale. what implication does she encounter when she goes to collect her prize?

Answers: 1

continue

Business, 22.06.2019 12:10, montgomerykarloxc24x

The cost of the beginning work in process inventory was comprised of $3,000 of direct materials, $10,000 of direct labor, and $10,000 of factory overhead. costs incurred during the period were comprised of $15,000 of direct materials costs, and $100,000 of conversion costs. the equivalent units of production (eup) for the period were 9,000 for direct materials and 6,000 for conversion. the costs per eup were:

Answers: 3

continue

Business, 23.06.2019 01:00, addi92

What is the average price for the cordless telephones (to 2 decimals)? $ b. what is the average talk time for the cordless telephones (to 3 decimals)? hours c. what percentage of the cordless telephones have a voice quality of excellent? % d. what percentage of the cordless telephones have a handset on the base?

Answers: 3

continue

Do you know the correct answer?

You purchase a house that costs $625,000 with an 8%, 30-year mortgage. You make a 20% down payment t...