You have just sold your house for $1,100,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $700,000. The mortgage is currently exactly 18 years old, and you have just made a payment. If the interest rate on the mortgage is 6.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.) Cash that remains after payoff of mortgage is $ (Round to the

You have just sold your house for $1,100,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $700,000. The mortgage is currently exactly 18 years old, and you have just made a payment. If the interest rate on the mortgage is 6.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.) Cash that remains after payoff of mortgage is $ (Round to the

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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You have just sold your house for $900,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800,000. The mortgage is currently exactly 18 years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.) Cash that remains after payoff of mortgage is $. (Round to the nearest dollar.) -C
You have just sold your house for $1,100,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $700,000. The mortgage is currently exactly 182 years old, and you have just made a payment. If the interest rate on the mortgage is 6.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.) Cash that remains after payoff of mortgage is $ (Round to the nearest dollar.) een 12.. een 2..4 een S 2.41. Clear all Check answer Get more help - View instructor tip Help me solve this tv 24
You have just sold your house for $1,100,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $700,000. The mortgage is currently exactly 18% years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.) Cash that remains after payoff of mortgage is $. (Round to the nearest dollar.) example Get more help. 28 B A MacBook Pro hor enter website name + Clear all & 19 Check answer XE
You have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800,000. The mortgage is currently exactly 18½ years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage?(Note: Be careful not to round any intermediate steps less than six decimal places.) Cash that remains after payoff of mortgage is $___________________(Round to the nearest dollar.)
You have just sold your house for $950,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800,000. The mortgage is currently exactly 18.5 years old, and you have just made a payment. If the interest rate on the mortgage is 6.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Ignore any real estate transaction costs.) 1. The monthly discount rate is %. (Round to five decimal places.) 2. The monthly payment for the original loan is $ ____. (Round to the nearest cent.) 3. The remaining balance on the original mortgage loan is $ (Round to the nearest cent.) 4. The cash that remains after payoff of the mortgage is $ _. (Round to the nearest cent.)
Your have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $750,000. The mortgage is currently exactly 18.50 years old, and you have just made a payment. If the interest rate on the mortgage is 6.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Ignore any real estate transaction costs.) Question content area bottom Part 1 The discount rate is enter your response here% per month. (Round to five decimal places.) Part 2 The monthly mortgage payment is $enter your response here. (Round to the nearest cent.) Part 3 The remaining balance is $enter your response here. (Round to the nearest dollar.) Part 4 The cash that remains after payoff of the mortgage is $enter your response here. (Round to the nearest dollar.)
Your have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800,000. The mortgage is currently exactly 18.50 years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Ignore any real estate transaction costs.) .…. The discount rate is % per month. The monthly mortgage payment is $ The remaining balance is $ (Round to the nearest dollar.) The cash that remains after payoff of the mortgage is $ (Round to five decimal places.) (Round to the nearest cent.) (Round to the nearest dollar.)
You have just sold your house for $1,100,000 in cash. Your montgage was originaly a 30 -year mortgage with monthly payments and an intial balance of $750,000 . The mortgage is currentfy exactly 18 y years old, and you have just made a payment, If the interest nate on the mortgage is 5.25% (APR). how much cash will you have from the sale once you pay off the mortgage? (Note: Bo careful not to round any intormediate stops less than six decimal places) Cash that remains after payof of mortgage is ? (Round to the nearest dollar)
Your have just sold your house for $1,000,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $800,000. The mortgage is currently exactly 18.50 years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR), how much cash will you have from the sale once you pay off the mortgage? (Ignore any real estate transaction costs.) The discount rate is% per month. (Round to five dccimal places.)
You have just sold your house for $ 1 comma 100 comma 000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of S 800 comma 000. The mortgage is currently exactly 18(1)/(2) years old, and you have just made a payment. If the interest rate on the mortgage is 7.75 % (APR), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.)
Suppose you take out a $117,000, 20-year mortgage loan to buy a condo. The interest rate on the loan is 5%. To keep things simple, we will assume you make payments on the loan annually at the end of each year. a. What is your annual payment on the loan? b. Construct a mortgage amortization. c. What fraction of your initial loan payment is interest? d. What fraction of your initial loan payment is amortization? e. What is the total of the loan amount paid off after 10 years (halfway through the life of the loan)? f. If the inflation rate is 3%, what is the real value of the first (year-end) payment? g. If the inflation rate is 3%, what is the real value of the last (year-end) payment? h. Now assume the inflation rate is 6% and the real interest rate on the loan is unchanged. What must be the new nominal interest rate? i-1. Recompute the amortization table. i-2. What is the real value of the first (year-end) payment in this high-inflation scenario? j. What is the real value of the last…
You have decided to refinance your mortgage. You plan to borrow whatever is outstanding on your current mortgage. The current monthly payment is$1,850and you have made every payment on time. The original term of the mortgage was 30 years, and the mortgage is exactly four years and eight months old. You have just made your monthly payment. The mortgage interest rate is 6.375%(APR). How much do you owe on the mortgage today? (Note: Be careful not to round any intermediate steps less than six decimal places.)

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