Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. 1. what would be the monthly payment on a $250,000

1. What would be the monthly payment on a $250,000 15-year fixed rate mortgage with...

80.2K

Verified Solution

Question

Finance

1. What would be the monthly payment on a $250,000 15-year fixed rate mortgage with a 4.5% APR (compounded and paid monthly)?

2. In the first months payment, how much principal will be repaid on a $250,000 15-year fixed rate mortgage with a 4.5% APR?

Please show manual calculations (not using excel)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Question 8 1 point N M 14m L 21 82 26 9 80 43 64...

Geometry
Q

Is it possible to prevent tmj syndrome? How?

Biology
Q

Use of methanol has been proposed to rid a wastewater of nitrate by biological denitrification to...

Biology
Q

Describe the functions of the major types of membrane proteins that we talked about receptors, enzymes,...

Medical Sciences
Q

Explain how you will develop rapport, exhibit empathy, model and demonstrate trust, model authenticity, and show...

Psychology
Q

You may need to use the appropriate technology to answer this question. Based on sales over a...

Basic Math
Q

A pump on the ground floor of a building can pump up water to fill...

Physics
Q

Sales-Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Amsterdam Supply...

Accounting
Q

The trial balance before adjustment of Company reports the following balances: Dr. Cr. Accounts...

Accounting
Q

chancellor ltd. sells an asset with a $1.6 million fair value to sophie inc. sophie...

Accounting
Q

Carlberg Company has two manufacturing departments, Assembly and Painting. The Assembly department started 11,200 units...

Accounting
Q

b. If a company has earnings of $50 billion and has 2 billion shares outstanding....

Finance