SOLUTION: . You are considering borrowing $150,000 to purchase a new home.
a. Calculate the monthly payment needed to amortize an 8 percent fixed-rate 30-year mortgage loan.
b. Calculate t
Algebra.Com
Question 878610: . You are considering borrowing $150,000 to purchase a new home.
a. Calculate the monthly payment needed to amortize an 8 percent fixed-rate 30-year mortgage loan.
b. Calculate the monthly amortization payment if the loan in (a) was for 15 years
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
Recommend a Calculator
a) P = $1100.65
b) P = $1433.48
RELATED QUESTIONS
Nina and Tom would like to purchase a new home, but they are not sure if they can afford... (answered by addingup,MathTherapy)
Is it 841.09? I want to check my answer.
Type the correct answer in the box. Use... (answered by ikleyn)
Is it 841.09? I want to check my answer
Type the correct answer in the box. Use... (answered by ikleyn)
Is it 841.09? I want to check my answer
Type the correct answer in the box. Use... (answered by MathLover1)
Is it 841.09? I want to check my answer
Type the correct answer in the box. Use... (answered by ikleyn)
Find the monthly house payment necessary to amortize the following loan.
In order to... (answered by rfer)
Find the monthly payment for the loan indicated. (Round your final answer to two decimal... (answered by MathLover1)
You are the owner of an apartment building that is being offered for sale for $1,500,000. (answered by Theo)
find the monthly house payment necessary to amortize an 8.4% long of 202,400 over 15... (answered by Alan3354)