Angelina is buying a home for $227,000. She has a $25,000 down payment and the bank has offered her a 30-year fixed rate mortgage at 4.66%. What will be Angelina's monthly mortgage payment? Round your answer to two decimal places.
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- Fred takes out a loan for $1300 at an interest rate of 5% for a period of 5 years. Calculate the total amount that Fred must pay back at the end of the loan period. Round your answer to two decimal placesThe present value of a perpetuity paying $20 at the end of every four years is $43. Find i.Greg wants to have $50 000 in five years. He has $20 000 today to invest. The bank is offering five- year investment certificates that pay interest compounded quarterly. What is the minimum nominal interest rate he would have to receive to reach his goal? (Ctrl) -
- You take out a loan of $12,000 to pay for a piece of equipment. You plan to repay the loan in 16 years. You can afford to pay a maximum of $1,100 each year. What interest rate would allow for you to pay off the entirely of the loan in equal payments?Maria takes out a 30-year mortgage for $235,136 at an annual interest rate of 4.2%. How much does she still owe when there is 1 year left on the loan? Round your answer to the nearest dollar.could you show how to determine the bond's present value without a calculator?
- hazel borrowed 100,000 and must repay a total of 130,000 exactly two years later. How much is the interest paid? what is the interest rate?You decide to purchase a house and need a $160, 000 mortgage. You take out a loan from the bank that has an annual interest rate of 6%. What is the monthly payment to the bank to pay off the loan in 20 years? ( i need final answer only no need of all calculation)Please use simple interest formula
- A British government perpetuity pays £4 a year forever and is selling for £48. What is the interest rate?You want to buy a $249,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be if the interest rate is 5% ? c) What will your monthly payments be if the interest rate is 6% ?Steve promises to pay Amanda $2,000 in four years and another $3,000 four years later for a loan of $2,000 from Sandy today. What is the interest rate that Sandy is getting? Assume interest is compounded monthly.