Reverse Mortgage

Juice asked: Which of the following items are listed in the header of an amortization table? True False – amortization payment True False – interest True False – principal at end of period True False – present value True False – payment number True False – payment applied to principal True False – lump sum [...]

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, [...]

Maira asked: In the context of preparing interest amortization schedule of hire purchase.

Maira asked: In the context of preparing interest amortization schedule of hire purchase.

hiedadam asked: I’m having an argument with my highschool dct teacher. He’s telling me that high school students never learn a formula that will compute compound interest and that it can only be done with a table. My argument is the table was made using a formula. My problem is i vaguely remember the formula. [...]

sun s asked: here is the question. Company X sold $500,000 of 12% bonds on january 1,2006 for $470,143.47, a price that yields a 14% interest rate. The bonds pay interest semiannually on June 30 and December 31 and due December 31, 2009. The company uses the effective interest method.. Required:::: 1) Prepare an interest [...]

Weird Darryl asked: I need the mathematical formula for the amortization of a loan. .

gen asked: A laptop worth $48000 can be bought at $8000 and the balance to be paid monthly for 1 year at 12% compunded monthly a. find the monthly payment R b. make an amortization schedule for this loan c. How much is the outstanding principal after 5 payments? before the 5th payment? d. how [...]

Ge64 asked: A man owes the bank 1 million dollars. Every year he pays the bank 50000 dollars to decrease his debt. Also, every year the bank charges 60% interest which increases the debt. How many years will it take for the debt to be one million million dollars, or 10^12? Show complete working Compound [...]