Reverse Mortgage

new_mommy asked: I’m from the Philippines and I want to understand the mechanics of a housing loan which is quite diff in the US. I have a 15 yr loan with a bank but my salary is quite enough to cover the monthly amortization if I restructure it to 5 years. Should I restructure or [...]

Terri asked: The Centennial Chemical Corporation announced that for the period ending March 31, 2008, it had earned income after taxes worth $5,330,275 on revenues of $13,144,680. The company’s costs (excluding depreciation and amortization) amounted to 61 percent of sales, and it had interest expenses of $392,168. What is the firm’s depreciation and amortization expense [...]

Sally M asked: ok heres the EXACT question. HOW does the change from monthly to weekly payments reduce the amortization period?

Jean asked: 1) jean purchased a new fishing boat for 130 000. She made a 20000down payment, and financed the balance at hid=s bank for 7 years. What amortization payments are required every 3 months at 16 years 16% interest to pay off the boat loan?

Jane asked: You purchased a new vehicle for $34,700 on May 26, 2009. Your first monthly payment will be due on July 2, 2009. The interest rate is 3.5% per year and the time period is 4 years. Create an amortization schedule. It should have the following columns: Payment number, Payment amount, Interest, Paid principal, [...]

Lexs.august asked: How to have a amortization chart i.e.. principal & interest in excel sheet.

L asked: Please help me figure this out, I’m totally confused. Vehicles purchased Jan 1, 2007 cost – $62,000 amortized for 4 years Trial balance for Dec. 31, 2008 has Accrued amortization – vehicles at $15,500. Is this not the correct answer and does not require an adjustment? I’m afraid I am missing something.

glenn b asked: The question is this: “The equipments useful life is 10 yrs – no residual or scrap value” Even if it doesn’t have residual value throughout the 10 years, is there still a yearly amortization on the equipment?

Ubernoob asked: A sofa that was no longer in use was sold to a used car company. $9,900.00 was the original value of the asset. No cash changed hands. 34% is the rate of amortization for this asset class. $2,475.00 of the asset’s original value was amortized. $4,009.50 of the book value was the price [...]

John W asked: Can anyone tell me about debt consolidation companies and their services?