Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. principal is $150,000, time is 15 years, monthly p

Principal is $150,000, time is 15 years, monthly payment is $1,072.32. What is the annual...

70.2K

Verified Solution

Question

Finance

image

Principal is $150,000, time is 15 years, monthly payment is $1,072.32. What is the annual interest rate? of (use 3 decimal places) What is the effective interest rate? (use 3 decimal places) How long (in years and months) would it take to pay off the mortgage if the payment was rounded up to $1,100 (Use the annuat interest rat NOT the effective rate.) years and months (Round up to the neat month.) How lang would it take at $1,200 per menth? years and months (Round up to the next month.)

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

On your own, draw the food web again, but this time include these two invasive...

Accounting
1.2K views

Prepare the necessary adjusting entries at December 31, 2018,for the Microchip Company for each...

Finance
1.2K views

Which of the following is true for a 5-year project with a 3-year payback period? The net...

Medical Sciences
1.2K views

Put the following items in order from the flow of sound waves to the production of action...

Programming
1.2K views

3.) The function remove of the class arrayListType removes only the first occurrence of an element....

Biology
1.2K views

4 What should be the social and ethical responsibilitie of the individual scientists involved in...

Physics
1.2K views

4 The drift speed varies randomly On increasing the temperature of a conductor its 4...

Basic Math
1.2K views

The demand for a particular commodity is given by D(x) = -35x + 150; that...

Basic Math
1.2K views

Determine the mean, median, mode and midrange of the set of data.59, 52, 39, 50,...

Calculus
1.2K views

E 6 1 91

Finance
1.2K views

There are two ways to calculate the expected return of a portfolio: Either calculate the...

Finance
1.2K views

2. It is end of trading on May 31. The spot USDTRY exchange rate is...