Eagle Technologies currently has a $200,000 principal balance on an 8%, 20-year mortgage note payable. If Eagle makes semiannual mortgage payments, how large will the interest expense on its next payment be? $2,400 $800 $8,000 $16,000
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Eagle Technologies currently has a $200,000 principal balance on an 8%, 20-year mortgage note payable. If Eagle makes semiannual mortgage payments, how large will the interest expense on its next payment be? $2,400 $800 $8,000 $16,000
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- If you borrow $100,000 at an annual interest rate of 10% for six years, what is the annual payment (prior to maturity) on a fully amortized loan? 14 Your choice: 14/15 Qs A: $0.00 B: $10,000.00 C: $16,666.67 D: $22960.74V4. A $200,000 30 year mortgage with a contract rate of 8.94%, $3000 closing costs (lawyer, appraisal, and transfer tax) and $1,000 in discount points (i.e mortgage setup fee). The monthly mortgage payment is determined to be $1600. what will be the effective borrowing rate if the borrower decides to pay off the loan at the end of year 8? Assume that the mortgage is based on monthly compounding.Consider a $180,000 15-year, fixed-rate mortgage with an annual interest rate of 4.70% and monthly payments. How much of the total expenses on mortgage payments go toward principal during the first two years (round to the nearest dollar)? $14,139 $5,739 $16,666 $25,663 $33,491 $17,339 $16,152 $22,755
- A $50,000 mortgage loan requires monthly payments of $520 for 20 years. What is the semiannually compounded nominal rate of interest on the loan?A. 11.3752%B. 11.6987%C. 11.1146%D. 0.9381%E. 11.2573%A $200,000 30 year mortgage with a contract rate of 8.94%, $3000 closing costs (lawyer, appraisal, and transfer tax) and $1,000 in discount points (i.e mortgage setup fee). The monthly mortgage payment is determined to be $1600. what will be the effective borrowing rate if the borrower decides to pay off the loan at the end of year 8? Assume that the mortgage is based on monthly compounding. PLEASE DONT GIVE HANDWRITTEN ANSWER THANK YOUConsider a 30-year, fixed-rate mortgage for $120,000 at a nominal rate of 6% with monthly payments. If the borrower pays an additional $120 with each monthly payment, what will be the amount of the last monthly payment? A. $839.46 B. $357.77 C. $843.66 D. $419.85 E. $355.99 F. $420.90 G. $418.81 H. $841.55
- Consider a $100,000 30-year, fixed-rate mortgage with an annual interest rate of 5.50% and monthly payments. How much of the total expenses on mortgage payments go toward interest during the first three years (round to the nearest dollar)?$2, 540 $10, 220 $15,858 S4,274 $16, 167 $19, 172 $3,583Topic: Business And Consumer Loans (Mortgage)A building is sold for $100000 and the bank requires 20% down payment. If the effective rate of interest of the mortgage is 2% and is to be paid for 10 years, how much is the total interest of the mortgage?Assume we have a $500,000 mortgage at 3.5% original interest rate, with a 30- year term and monthly payments. The interest rate can be adjusted at the end of each year, and we assume the rate increases 0.15% after the first year and another 0.5% after the second year. What is the loan balance at the end of the second year? O481,255 None of the given answers 455.812 418,256 480,709
- The following loan is a simple interest amortized loan with monthly payments. $7000, 7%, 4 years (a) Find the monthly payment. (Give your answer to the nearest cent.) Payment $189.58 (b) Find the total interest for the given simple interest amortized loan. (Give your answer to the nearest cent.) Total interest $ 2100 XSuppose you have taken out a $125,090 fully amortizing fixed rate mortgage loan that has a term of 15 years and an interest rate of 6%. After your first mortgage payment, how much of the original loan balance is remaining? Multiple Choice $1,054.82 $120,60378 $1245701 $124.875.56Crosetti's Electronics issues an $800,000, 8%, 10-year mortgage note on Dec 31, 2022, to help finance a plant expansion program. The terms of the note provide for annual installment payments of $119,224 each Dec 31. This problem directly applies to YOU if you have any "monthly payments" from a credit card, car loan or a mortgage. Ex: You owe $1,000 on your credit card at 19% interest. You always pay the "minimum monthly payment" of 2% ... $20 per month. Use this Debt Repayment Calculator to answer "How long will it take you to pay off this credit card? or copy/paste this link: https://www.myfinancialgoals.org/credit-card-minimum-payment- calculator?source=8552352600&network=g&campaign=957905197&adgroup=6146463 9320&matchtype=&keyword=&device=c&creative=324240436707&gclid=EAlal QobChM lornm24-e9g|Vph6tBh2VMAyoEAAYAiAAEgJjdvD BwE Answer?? Instructions (Round all computations to the nearest dollar.) (a) Prepare an "installment payments schedule" for the first four payments of the mortgage…