Your new 30-year mortgage includes borrowing $425,000 at an APR of 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about 3.0% a year, how muchwill you have to invest if you seel the house after 14 years? (Ignore here any taxes or fees on the purchase or sale of the house.)

ur new 30-year mortgage includes borrowing $425,000 an APR 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about Il you have to invest if you seel the house after 14 years? (Ignore here any taxes or fees on the purchase or sale of the house.)

ur new 30-year mortgage includes borrowing $425,000 an APR 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about Il you have to invest if you seel the house after 14 years? (Ignore here any taxes or fees on the purchase or sale of the house.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Your new 30-year mortgage includes borrowing $425,000 at an APR of 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about 3.0% a year, how much
will you have to invest if you seel the house after 14 years? (Ignore here any taxes or fees on the purchase or sale of the house.)

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Your new 30-year mortgage includes borrowing $425,000 at an APR of 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about 3.0% a year, how much will you have to invest if you sell the house after 14 years? (Ignore here any taxes or fees on the purchase or sale of the house.) PLEASE USE EXCEL TO SOLVE THIS QUESTION!!!
Your new 30-year mortgage includes borrowing $425,000 at an APR of 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about 3.0% a year, how much will you have to invest if you sell the house after 14 years? (Ignore any taxes or fees on the purchase/sale of the house.)
Your new 30-year mortgage includes borrowing $425,000 at an APR of 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about 3.0% a year, how much will you have to invest if you seel the house after 14 years? (Ignore here any taxes or fees on the purchase or sale of the house.) Do not round the intermediate calculations. Enter your answer, however, as a dollar number rounded to the nearest whole dollar. No decimals, in other words. Do not enter dollar signs or commas.
Suppose that you purchased a house with a $140,000 mortgage (30-year fixed at 6% with a payment of $839.37) five years ago. The loan balance is currently $130,276 and you can refinance that balance at 5% with a new 30-year fixed rate mortgage. You anticipate being in the house for another six years, at which point the balance on your current mortgage would be $114,032. If you refinanced at the terms above, what would be the difference in the loan balances? O $1,329 O $1,871 O $2,471 O $3,132 O $3,860 2
You are considering refinancing your home’s 30 year mortgage at a lower interest rate. Your original loan amount was $85,000 and your current monthly payment is $683.93. Assuming you wish to continue paying the same monthly amount on a new 30 year mortgage, how much cash can you pull out from refinancing the current loan balance at 6% now that you have been in the home for five years?
To buy an $180,000 condominium, you put down $30,000 and take out a mortgage for $150,000 at an APR of 9% compounded monthly. Five years later, you sell the house for $205,000 (after all selling expenses are factored in). What equity (the amount that you can keep before any taxes are taken out) would you realize with a 30-year mortgage repayment term? (Assume that the loan is paid off when the condo is sold in lump sum.)
the price of a house is $400,000. Then, you make a down payment of $130,000 and take a 30-year mortgage for the balance. (a) what is your down payment? (b) what is your mortgage ? (c) what is the total interest charged over the life of the loan if your monthly payment is 1350 dollars?
Your new 30-year mortgage includes borrowing $425,000 at an APR of 4.78%. If you paid 20% down when you bought this house, and if the value of the property grows at about 3.0% a year, how much will you have to invest if you seel the house after 14 years?
When you purchased your house, you took out a 30-year mortgage with an interest rate of 4.8% per year. The monthly payment on the mortgage $5,557. You have just made a payment and have now decided to pay off the mortgage by repaying the outstanding balance. What is the payoff amount if you have lived in the house for 20 years (so there are 10 years left on the mortgage)? Payoff amount is $____. (Round to the nearest dollar.)
You have just taken out a mortgage of $50,000 for 30 years, with monthly payments at 6% interest. The same day you close on the mortgage you receive a $25,000 gift from your parents to be applied to the mortgage principal. What amount of time will now be required to pay off the mortgage if you continue to make the original monthly payments? What is the amount of the last payment? (Assume any residual partial payment amount is added to the last payment.)
Suppose you took out a 25 year mortgage at 2.32% to purchase a home, making monthly payments of $2100. After 5 years and 6 months you are able to refinance for 20 years at 2.15%, making monthly payments of $1950. How much do you save on interest by refinancing?
To buy a new house, you must borrow $140,000. To do this, you take out a $ 140,000, 30-year, 9 percent mortgage. Your mortgage payments, which are made at the end of each year (one payment each year), include both principal and 9 percent interest on the declining balance. How large will your annual payments be?

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