Home / Questions / How do I input this in BA II Plus Calculator Youve decided to buy a house that is valued ...
How do I input this in BA II Plus Calculator?
You've decided to buy a house that is valued at $1 million. You have $150,000 to use as a down payment on the house, and want to take out a mortgage for the remainder of the purchase price. Your bank has approved your $850,000 mortgage, and is offering a standard 30-year mortgage at a 10% fixed nominal interest rate (called the loan's annual percentage rate or APR). Under this loan proposal, your mortgage payment will be $7, 459.11 per month. Your friends suggest that you take a 15-year mortgage, because a 30-year mortgage is too long and you will pay a lot of money on interest. If your bank approves a 15-year, $850,000 loan at a fixed nominal interest rate of 10% (APR), then the difference in the monthly payment of the 15-year mortgage and 30-year mortgage will be $1, 674.83 It is likely that you won't like the prospect of paying more money each month, but if you do take out a 15-year mortgage, you will make far fewer payments and will pay a lot less in interest. How much more total interest will you pay over the life of the loan if you take out a 30-year mortgage instead of a 15-year mortgage? $1, 436, 815.15 $1, 228, 581.07 $1, 041, 170.40 $1, 332, 698.11
Apr 03 2020 Read more Less More
An organization characterized by a very formal structure, strict lines of communication, existence of many rules, and fixed duties, has a/an [A]Strategic structure [B]Mec...
Mar 07 2018The most common form of merger(s) in the U.S. economy is (are)a.the horizontal mergerb.the vertical mergerc.the conglomerate mergerd.horizontal and vertical mergers (equ...
Dec 11 2019Compare and contrast the following proposed approaches for dealing with international differences in accounting, disclosure, and auditing standards: (1) Reciprocity, (2) ...
Mar 31 2020Zion Metals Inc. has three grades of metal product, A1, B3, and E6. Financial data for the three grades are as follows: Zion Metals operations require all three grades to...
Apr 05 2020Flaws in aluminum siding. [Note: This exercise refers to an optional section in Chapter 4.] A building contractor has decided to purchase a load of factory-reject aluminu...
Aug 06 2020Education, Tenure, Practice, Credentialing, Titling & Conducting Research Course Objectives: 1.) Analyze the history of nursing education with emphasis on the developme...
Feb 14 2020How does the ego-id-superego apparatus interact? Please be as explicit as possible. 2. How is the superego the "parental agency"? Please be explicit with your answer. >
Jul 08 2020Problem 3: VSL a) Describe VSL (i.e., “Value of a Statistical Life”) in terms that a non-economist can understand, taking care to “de-stigmatize” this economic concept (i...
Jun 06 2020Children’s attitude toward reading. In the journal Knowledge Quest (January /February 2002) education professors at the University of Southern California investigated chi...
Aug 06 2020At a college, 66 % of courses have final exams and 56 % of courses require research papers. Suppose that 45 % of courses have a research paper and a final exam. Find the ...
Apr 25 2020Welcome to MyCourseHelp Services, World's leading Academic solutions provider with Millions of Happy Students.