Mathematics

Mathematics, 24.06.2019 20:00, babygirl62716

What is true of an adjustable rate mortgage? a. the borrower can adjust monthly payment depending on his budget b. the interest rate may change depending on the condition of the economy c. the lender can adjust the monthly payments dates whenever he wants to

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Advanced Placement (AP), 24.06.2019 07:00, tangia

Gretta needs a $300,000 mortgage and is offered two choices. the monthly payments for the fixed rate and predicted payments for the arm are shown. adjustable rate mortgage year monthly payment 1-15 $1,610.46 adjustable rate mortgage year monthly payment 1-5 $1,520.06 6-15 $1,728.54 what is the difference between the total costs of the mortgages rounded to the nearest hundred? $8,700 $1,700 $15,800 $5,000

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Business, 25.06.2019 22:50, lisamiller

Aborrower is considering three competing mortgage loan offers from her bank. the amount borrowed on the mortgage is $100,000 with monthly compounding. mortgage type stated annual interest rate at initiation of the loan year in which rate first adjusts 30-year fixed rate 5.000% n/a 20-year fixed rate 4.385% n/a 30-year adjustable-rate mortgage (arm) 3.750% 3 the rate on the arm resets at the end of year 3. assuming the arm is permanently reset at 5.500% (i.e., the remaining balance on the loan is assumed to be repaid with a 5.500% stated annual interest), which of the three loans will have the smallest monthly payment after the rate reset at the end of year 3?

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Mathematics, 23.07.2019 00:00, jtphillips02

Marcie has a 30 year adjustable rate mortgage with a fixed rate for the first 5 years. in the 6th year, the interest rate rises to 4.9%. the remaining balance at the end of the 5th year is $317,783.30. what is the monthly payment in the 6th year? a. $1686.56 b. $1059.26 c. $1878.56 d. $1839.26 a mortgage has the terms shown below balloon mortgage $400,000 20/6 balloon 8% annual rate initial monthly payment: $3345.76 what is the amount of the balloon payment rounded to the nearest dollar? a. $377,803 b. $339,756 c. $337,506 d. $159,105 a bank is advertising the following mortgage balloon mortgage $245,000 20/4 balloon 5.8% annual rate monthly payment: $1727.11 balloon payment: $216,789.79 what is the total cost of this balloon mortgage? a. $414,506.

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Business, 06.08.2019 02:30, AutumnJoy12

Afixed-rate mortgage has the same interest rate over the life of the loan, whether the mortgage is for 15 or 30 years. by contrast, an adjustable-rate mortgage changes with market interest rates over the life of the mortgage. if inflation falls unexpectedly by 3%, what would likely happen to a homeowner with an adjustable-rate mortgage?

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