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3 years ago

Find the monthly payments for 250,000 mortgage to pay it off in 15 years if interest rate is 6% compounded monthly g

Business

1 answer:

Kobotan [32]3 years ago

6 0

Answer:

The monthly payments for $250,000 mortgage is $2,109.64.

Explanation:

Mortgage value = $250,000

Period of years = 15

Interest rate = 6% compounded monthly

Using an online calculator,

The remaining balance is $250,000.00. The monthly pay is $2,109.64 for 15 years or 180 months. It will result in interest expense of $129,735.57.

The Original Payoff Schedule

Monthly Pay $2,109.64

Total Payments $379,735.57

Total Interest $129,735.57

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3 years ago

Village Corp., a calendar year corporation, began business in year 1. Village made a valid S corporation election on December 5,

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3 years ago

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4 years ago

Read 2 more answers

If the form of a will is made orally, and written down by a witness, how is it called?

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4 years ago

Carmel Corporation is considering the purchase of a machine costing $36,000 with a 6-year useful life and no salvage value. Carm

Korolek [52]

Answer: $18,000

Explanation:

From the question, we are told that Carmel Corporation is considering buying a machine that cost $36,000 with a 6-year useful life and no salvage value and the straight-line depreciation was used on the assumption that the annual cash inflow from the machine will be received uniformly throughout each year.

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= $36000/2

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4 years ago