Value = $325,000Current balance = $245,580Current payment = $1,890Taxes = $205Homeowners insurance = $60Closing Costs = 2.5%Prepaids = 1%What is their new loan amount and proposed monthly PITI based on a 30-year fixed-rate of 6.125%?Choices:$256,859/ $1,825.70$254,850 /$1,913.31$254,850 /$1,892.07$256,750 /$1,925.60

As per the given information: Value = $325,000Current balance = $245,580Current payment =…

Answered: Value = $325,000 Current balance =…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

Find the future value of this loan: $20,862 at 11.4% for 14 months. Group of answer choices A. $23636.65 B. $25657.00 C. $263536.51 D. $40,000.00
Use the following information to answer the question: Loan amount: $245,000 Loan term: 30 years Contract interest rate: 6.00% Monthly payment: $1,468.8988 Total up-front financing costs paid to lender: $9,100 Up-front financing costs paid to third party service providers: $2.900 Calculate the lender's expected yield/IRR if the lender expects the borrower to keep the loan outstanding for the entire loan term. O None of the selections is correct 6.36% 6.00% 6.48% O 6.54%
How much interest will be paid on 5-year, $50,000 loan if the rate of interest is 7.5% compounded annually? Multiple Choice $10,791.18 $11,791.18 $12,791.18 $9,791.18 $8,791.18
A6) Finance Find the annual financing cost of a 45 day revolving credit agreement with a 0.5% commitment fee. Assume you borrow $278,558m at 5.62%. You can borrow up to $500,000.
A house price of $100,000 can be financed with two loans below with monthly payments. The total origination cost associated with these two loans is $2,000. 1st loan OO 2nd loan 4.28% 5.28% 6.28% $ 7.28% $ Loan Amount 80,000 Term (years) 30 10,000 Alternatively, the borrower can borrow one loan in the amount of $90,000 with origination cost of $1,500. What should the interest rate be on the $90,000, 30 years loan with monthly payments so that the borrower will be indifferent between these two alternatives? 30 Interest Rate 5% 7%
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $80,000 for 3 years at 9% compounded annually Period Payment Interest Balance Reduction Unpaid Balance $80,000 %24 2 24 %$4 $0.00 Need Help? Read it 3.
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $40,000 for 1 year at 12% compounded quarterly Payment Period 1 2 3 4 tA HA LA LA Need Help? Read It A LA LA ta Interest Balance Reduction LA A LA LA 100 Unpaid Balance $40,000 $ 39,854.71 $ LA $0.00
Develop an amortization schedule for the loan described. (Round your answers to the nearest cent.) $200,000 for 3 years at 9% compounded annually Period Payment Interest Balance Reduction Unpaid Balance $200,000 $ 200,000 $1500 $ 195,140.05X 2 $ 200,000 $ 1500 3. $ 200,000 $0.00
How much will you owe at the end of 10 years and a month, if you decide to pay your yearly bonus at the end of each year toward reducing your outstanding loan amount for a loan with the following details? Loan amount PV $355,000 Rate of interest APR 5.500% p. y. c. w. Loan term NPER 15 years Bonus payment at end $7,000 of each year $21,619.43 O $41,033.68 $58,527,87 $74,315.75
Consider a loan of $8,000 charging interest at j12-6% with monthly payments of $321.50 Calculate the missing amounts in the amortization table. Place the value for A in the first answer box, B in the second and C in the third. PMT Interest Principall Balance 8,000.00 1321.50 40.00 281.50 7,718.50 2 321.50 A C
How long will it take to pay off a loan of $53 comma 00053,000 at an annual rate of 66% compounded monthly if you make monthly payments of $800800 (round up)? Question content area bottom Part 1 To pay off the loan, it will take approximately enter your response here years. (Round up to the nearest integer.)
Solve: Loan 48,000 for 3 years with a rate of 10%, What are the total finance charges? Use an Amortization chart

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