Business, 08.07.2019 23:40 quanntwann2873

You have just purchased a home by borrowing $400,000 for 30-years at a fixed apr of 3.87%. the loan payments are monthly and interest is compounded monthly.
a. what is the periodic interest rate? (i. e., what is the monthly interest rate? )
b. what is the effective annual rate on the loan? (i. e., what is the interest rate once we take into account compounding? )
c. what is the monthly mortgage payment?
(hint: a mortgage is just an annuity where the borrowed amount is the present value of the annuity. so, use the annuity formula, but solved for the cash flow in terms of the present value:
cf =pv×r/k 1−(1+r/k)−t×k)

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 00:00

Which statement about the cost of the options is true? she would save $1,000 by choosing option b. she would save $5,650 by choosing option a. she would save $11,200 by choosing option b. she would save $11,300 by choosing option a.

Answers: 2

Answer

Business, 22.06.2019 15:40

Colter steel has $5,550,000 in assets. temporary current assets $ 3,100,000 permanent current assets 1,605,000 fixed assets 845,000 total assets $ 5,550,000 assume the term structure of interest rates becomes inverted, with short-term rates going to 10 percent and long-term rates 2 percentage points lower than short-term rates. earnings before interest and taxes are $1,170,000. the tax rate is 40 percent earnings after taxes = ?

Answers: 1

Answer

Business, 22.06.2019 22:00

"jake’s roof repair has provided the following data concerning its costs: fixed cost per month cost per repair-hour wages and salaries $ 20,900 $ 15.00 parts and supplies $ 7.70 equipment depreciation $ 2,800 $ 0.35 truck operating expenses $ 5,720 $ 1.60 rent $ 4,690 administrative expenses $ 3,850 $ 0.50 for example, wages and salaries should be $20,900 plus $15.00 per repair-hour. the company expected to work 2,600 repair-hours in may, but actually worked 2,500 repair-hours. the company expects its sales to be $47.00 per repair-hour. required: compute the company’s activity variances for may."

Answers: 1

Answer

Business, 23.06.2019 00:30

Greentel, a telecom giant, has been using the service of orpheus inc. for training its employees. according to a deal signed by the two companies, orpheus inc. is not only responsible for training greentel's employees but also for providing comprehensive administrative services to the telecom giant. in this instance, greentel engages in

Answers: 1

Answer

You know the right answer?

You have just purchased a home by borrowing $400,000 for 30-years at a fixed apr of 3.87%. the loan...

Questions