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3 years ago

Which combination of factors would result in the lowest monthly mortgage payment?

1 answer:

8 0

The choices can be found elsewhere and as follows:

A.) Big down payment,a longer term loan, and a low interest rate
B.) Big down payment, a shorter term loan, and high interest rate
C.) Small down payment, a shorter term loan, and high interest rate
D.) Small down payment, a shorter term loan, and small interest rate

I think the correct answer is option A. It would be Big down payment,a longer term loan, and a low interest rate that would result in the lowest monthly mortgage payment. Hope this answers the question.

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You need a 35-year, fixed-rate mortgage to buy a new home for $340,000. Your mortgage bank will lend you the money at an APR of

cluponka [151]

Answer:

$338,712

Explanation:

we must first calculate the monthly payment using the present value of an annuity formula:

present value = monthly payment x annuity factor

present value = $340,000

PV annuity factor, 0.529167%, 420 periods = 168.38268

monthly payment = $340,000 / 168.38268 = $2,019.21

Since the monthly payment was actually higher than $1,800, the balloon payment will be almost $340,000

I prepared an amortization schedule using an excel spreadsheet. During the first years, the principal is only decreasing by $1 each month

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3 years ago

Lang Warehouses borrowed $196,401 from a bank and signed a note requiring 7 annual payments of $33,942 beginning one year from t

Snezhnost [94]

Answer:

Explanation:

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator

The interest rate implicit in the agreement can be determined by finding the internal rate of return.

Cash flow in year 0 = $-196,401

Cash flow each year from year 1 to 7 = $33,942

IRR = 5%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

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3 years ago

Leslie has developed a new kind of running shoe, and now she is trying to decide where to sell it. Which of the 4Ps of marketing

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3 years ago

Read 2 more answers

Match the various information flows to the smart TV purchase steps. Store to Manufacturer Buyer to Manufacturer Manufacturer to

Ray Of Light [21]

Answer:

Please refer the detail answer below

Explanation:

Store to Manufacturer ------ Request delivery schedule

Buyer to Manufacturer ------- Frequent, direct reorder

Manufacturer to Distribution Center and Buyer ------ Advanced shipping notice

Store to Distribution Center ----- Corporate inventory order

Customer to Store ----- Smart TV purchased

Store to Buyer ------ POS terminal sends data

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