Homework answers / question archive / 1)Compute the amount of the first monthly payment that will go towards principal for a $98,118 home loan

1)Compute the amount of the first monthly payment that will go towards principal for a $98,118 home loan

Finance

Share With

1)Compute the amount of the first monthly payment that will go towards principal for a $98,118 home loan. The interest of the loan is 5% with monthly payments. The loan amortization is over 25 years.

2)Compute the monthly payment for a $133,440 home loan. The stated interest of the loan is 5% with monthly payments. The loan amortization is over 25 years.

3) Lori Willis plans to invest for retirement, which she hopes will be in 25 years. She is planning to invest $23,000 today in U.S. Treasury bonds that will earn interest 5.0 percent annually. How much will she have at the end of 25 years? (Round to the nearest dollar.) O $77,886 $68,870 O $81,044 O $61,026 Question 19 1 pts Richard McLean wants to invest $4,100 in an account paying 5 percent compounded quarterly. What is the interest on interest after five years? O $695.98 $923.55 O $131.35 O $112.13