Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Basic Finance Expert

Problem: Assume that exactly three years ago I borrowed $417,000. My loan has an interest rate of 4.25% and the term of the loan is 30 years (with required payments to be made every month). If I made every required payment on time for the first 36 months of the loan, what is my current payoff on my loan? (that is, immediately after making my 36th payment)? Be sure to support your response with specifics.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M91807859
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Basic Finance

1 your firm expects to incur a 500k loss in year 1 and

1. Your firm expects to incur a ($500K) loss in year 1 and make $100K of net income in year 2 and $300K of net income in year 3. The retention ratio is projected to be 100%. The beginning equity balance on the balance sh ...

Praful co ltd purchased the business on 142010 the company

Praful Co. Ltd., purchased the business on 1.4.2010. The company obtained the certificate of commencement on 31.7.2010. The following details are available as on 31.3.2011. a) Total sales up to 31.3.2011 Rs.15, 00,000. O ...

Assignment - custom cabinets inc case answer the following

Assignment - Custom Cabinets, Inc. CASE Answer the following questions. 1. Should there be additional overtime, and if so, how much? 2. Should additional laminate be purchased, and if so, how much? 3. Should additional w ...

Explain how the company newmans own brand fulfills the

Explain how the company Newman's Own brand fulfills the definition of a business for profit and a non-profit business at the same time. Consider in the response the functions of business, entrepreneurship and production ...

Jones inc currently pays no dividends choosing instead to

Jones Inc currently pays no dividends, choosing instead to re-invest all earnings in the firm. However, the firm anticipates that beginning in year 7, they will run out of profitable investments and begin paying a divide ...

What is the value today of single payment of 45936 made 8

What is the value today, of single payment of $45,936 made 8 years from today, if the value is discounted at a rate of 24.00%? How many years would it take an investment of $137 to grow to $3,849 at an annual rate of ret ...

How may the royal commission inquiring into the activities

How may the Royal Commission inquiring into the activities of financial institutions in Australia affect systematic (market) risk and unsystematic (firm-specific) risk? Explain how items of news reported from the Royal C ...

Question utilizing the concepts learned throughout the

Question: Utilizing the concepts learned throughout the course, write a Final Paper on one of the following scenarios: • Option One: You are a consultant with 10 years experience in the health care insurance industry. A ...

A corporation has an outstanding bond with the following

A corporation has an outstanding bond with the following characteristics: Coupon rate = 6.0% Interest payments - Semi-annually Face value = $1,000 Years to maturity = 20 Current market value = $1,054.88 Find the yield to ...

It is january 1 2018 and you have just won the lottery

It is January 1, 2018 and you have just won the lottery which pays you $1,000 per month for 50 years. It begins paying out on January 31st, 2025, which is after a seven year wait. Assuming an interest rate of 6% (annual ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As