Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. you put 20% down on a home with a purchase price o

You put 20% down on a home with a purchase price of $250,000. The down...

70.2K

Verified Solution

Question

Finance

image

You put 20% down on a home with a purchase price of $250,000. The down payment is thus $50,000, leaving a balance owed of $200,000. The bank will loan the remaining balance at 3.91% APR. You will make annual payments with a 30-year payment schedule. What is the annual annuity payment under this schedule? A) $11,009.49 B) $11,439.96 OC) $18,100.23 D) $6,666.67

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

A bank features a savings account that has an annual pe compounded quarterly Dalton deposits...

Basic Math
Q

Calculate the macroscopic thermal neutron absorption cross section for uranium enriched to 5% a/o 235U.

Physics
Q

Bryan followed in his father’s footsteps and entered into the carpet business. He owns and operates...

Accounting
Q

The length of a rectangle is 6 yd longer than its width.If the perimeter of...

Basic Math
Q

Estimated Warranty Liability Savory sold $558,000 of consumer electronics during July under a two-year warranty....

Accounting
Q

Which of the following statements is incorrect regarding receivables? a. Receivables are a financial asset...

Accounting
Q

B 5 points GENERAL JOURNAL Inside Magazine sold 12 month subscriptions of its new magazine...

Accounting
Q

EA 4. LO 13.1 On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a...

Accounting
Q

Which of the following would be an example of a joint product cost product line?...

Accounting
Q

Adjusting entries. You have been retained to examine the records of Kathys Day Care Center...

Accounting
Q

Suppose Corporation A has a book (face) debt value of $10M, trading at 76% of...

Accounting
Q

Entries for notes recelvable, including year-end entries The following selected transactions were completed by Interlocking...

Accounting