Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. make sure that the loan is set to $200,000, the in

Make sure that the loan is set to $200,000, the interest rate to 3.5% and...

80.2K

Verified Solution

Question

Finance

Make sure that the loan is set to $200,000, the interest rate to 3.5% and also make this a variable rate with 7 years fixed interest. If you pay an extra $350 a month and pay $35,000 additional payment on the 85th month (or right after 7 years) .. a) how much interest will you save, b) what date will the entire loan get paid , c) how much taxes will you save, d) what is the loan balance on year 18 ? e) how much was the total payment of the entire loan, f) how much was the total interest payment

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

11 3 points As a population declines in numbers it gains genetic diversity True False

Medical Sciences
1.2K views

Ryan is finishing his trail half marathon and starts to sprint the last half mile of...

Physics
1.2K views

A photon of wavelength 6.63 pm scatters at an angle of 167 ∘ from an initially...

Physics
1.2K views

A ball falls vertically onto a floor with momentum p and then bounces repeatedly The...

Statistics
1.2K views

If you wanted to decrease the width of your confidence interval would you increase or...

Calculus
1.2K views

x 1 n 4 The Taylor series for In x centered at x 1 is...

Accounting
1.2K views

On July 1, Pushway Corporation issued common stock for all of Stroker Company's common stock....

Accounting
1.2K views

What are some of the required elements of the annual report that public companies must...

Accounting
1.2K views

The stockholders' equity section of Vaughn Manufacturing as of December 31, 2020, was as follows:...

Accounting
1.2K views

Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based...

Accounting
1.2K views

Explain how Samsung could benefit by product pricing in terms of cost-plus concepts. This explanation...

Finance
1.2K views

please be as detailed as you can , will thumbs up thx ...