Question you acquire a 30-year mortgage with a fixed, Ask an Expert

Finance

Question: You acquire a 30-year mortgage with a fixed monthly compound interest rate of 0.29% to purchase a house that costs $250,000. In addition to the regular monthly mortgage payment that the lender requires, you decide to pay an additional $50 each month starting with the first payment. What is the total number of payments (full and partial) you will make now, and what is the amount of the final payment? Carry as many digits forward as possible during your calculation.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92770738

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Why was it a problem for elon musk to tell the public that

Why was it a problem for Elon Musk to tell the public that he was intending to make Tesla private?

Innbspmid-2009 rite aid hadnbspccc-ratednbsp20-year bonds

In? mid-2009, Rite Aid had? CCC-rated, 20-year bonds outstanding with a yield to maturity of 17.3%. At the? time, similar maturity Treasuries had a yield of 5%. Suppose the market risk premium is 4% and you believe Rite? ...

Question - the current zero-coupon yield curve for

Question - The current zero-coupon yield curve for risk-free bonds is as follows: Maturity(Years) 1 2 3 4 5 YTM 4.96% 5.48% 5.73% 5.97% 6.07% What is the risk-free interest rate for a five-year maturity?

You have just leased a car that has monthly payments of 365

You have just leased a car that has monthly payments of $365 for the next 4 years with the first payment due today. If the APR is 6.84 percent compounded monthly, what is the value of the payments today? $13,979.07 $15,3 ...

Question - pkof considers bidding for a big dredging

Question - PKOF considers bidding for a big dredging project in the port of Lagos. The project would yield annual cash flows of 2.5 billion NGN for the next three years. At the current exchange rate of NGN 125/EUR, this ...

What is the difference between systematic versus

What is the difference between systematic versus unsystematic risk?

Craigs cake company has an outstanding issue of 15-year

Craig's Cake Company has an outstanding issue of 15-year convertible bonds with a $1,000 par value. These bonds are convertible into 80 shares of common stock. They have a 13% annual coupon interest rate, whereas the int ...

Follow up - calculating a bonds yield to maturity amazon

Follow Up - Calculating a Bonds Yield to Maturity Amazon has a bond with a 10% annual coupon rate, 15 years to maturity and a par value of $1000. The current price is $928.09. Calculate the Yield to Maturity.

What type of data values are quantitative and the number of

What type of data values are quantitative and the number of values is finite or countable?

Your firm needs a machine which costs 190000 and requires

Your firm needs a machine which costs $190,000, and requires $40,000 in maintenance for each year of its 7 year life. After 5 years, this machine will be replaced. The machine falls into the MACRS 7-year class life categ ...

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

Recent Questions

Ask Basic Finance Expert