A home is purchased for 148450 the homeowner pays 29690, Ask an Expert

Finance

A home is purchased for $148450. The homeowner pays $29690 down and finances the balance for 30 years at 7.5% compounded monthly.

a. Find the size of the payments rounded up to the next cent.

b. How much of the first payment is interest?

c. How much is still owed on the loan just after 145 payments.

d. What is the owner's equity after 145 payments?

e. How much is owed just before the 145 payment is actually made?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92095138

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