Business, 29.11.2019 02:31 josephaciaful

Five years ago, diane secured a bank loan of $340,000 to finance the purchase of a loft in the san francisco bay area. the term of the mortgage was 30 years, and the interest rate was 8% per year compounded monthly on the unpaid balance. because the interest rate for a conventional 30-year home mortgage has now dropped to 6% per year compounded monthly, diane is thinking of refinancing her property. (round your answers to the nearest cent.
(a) what is diane's current monthly mortgage payment? $
(b) what is diane's current outstanding balance? $
(c) if diane decides to refinance her property by securing a 30-year home mortgage loan in the amount of the current outstanding principal at the prevailing interest rate of 6% per year compounded monthly, what will be her monthly mortgage payment? use the rounded outstanding balance. $
(d) how much less would diane's monthly mortgage payment be if she refinances? use the rounded values from parts ()

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 01:20

Cindy recently played in a softball game in which she misplayed a ground ball for an error. later, in the same game, she made a great catch on a very difficult play. according to the self-serving bias, she would attribute her error to and her good catch to her

Answers: 1

Answer

Business, 22.06.2019 20:40

Which one of the following statements is correct? process costing systems use periodic inventory systems. process costing systems assign costs to departments or processes for a time period. companies that produce many different products or services are more likely to use process costing systems. production is continuous when a job-order costing is used to ensure that adequate quantities are on hand.

Answers: 2

Answer

Business, 22.06.2019 21:00

The purpose of the transportation approach for location analysis is to minimize which of the following? a. total costsb. total fixed costsc. the number of shipmentsd. total shipping costse. total variable costs

Answers: 1

Answer

Business, 22.06.2019 21:30

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money.msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach

Answers: 3

Answer

You know the right answer?

Five years ago, diane secured a bank loan of $340,000 to finance the purchase of a loft in the san...

Questions