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    Amortization and Sinking Funds?

    Mar 07, 2011 by Jose | Posted in Homework Help

    Consider a 30-year mortgage at an interest rate of 12% compounded monthly with a $900 monthly payment. What is the loan amount (present value)?
    a. $87,514.24
    b. $87,496.50
    c. $87,486.93
    d. $87,472.51

    Consider

    I used my HP12C calculator to solve all of these.

    Consider a 30-year mortgage at an interest rate of 12% compounded monthly with a $900 monthly payment. What is the loan amount (present value)?

    b. $87,496.50

    Marc | Mar 09, 2011

    I used my HP12C calculator to solve all of these.

    Consider a 30-year mortgage at an interest rate of 12% compounded monthly with a $900 monthly payment. What is the loan amount (present value)?

    b. $87,496.50

    Marc | Mar 09, 2011

    Annuity, Amortization And Sinking Fund?

    Mar 26, 2011 by Jose | Posted in Mathematics

    A financial institution offers a 10-year ordinary annuity with a guaranteed rate of 6.65% compounded quarterly. A person wishes to receive quarterly payments of $5,000 over a 10-year period. How much should a person pay for this annuity?

    A

    here are the terms and formulas, plug them in and solve.
    PMT = payment
    PV = present value
    FV = future value
    r = interest rate as a decimal
    n = times compounded yearly
    t = time in years

    Amortization

    | Mar 26, 2011

    here are the terms and formulas, plug them in and solve.
    PMT = payment
    PV = present value
    FV = future value
    r = interest rate as a decimal
    n = times compounded yearly
    t = time in years

    Amortization
    David | Mar 26, 2011

    car loan amortization news

    Reclaim debt control — save time, money

    18.05.12 • A line of credit is not for everyone –although it provides added flexibility for your borrowing needs,  if you have trouble sticking to a budget and typically have little money left at the end of the month to apply to your debt, a personal loan or a refinanced mortgage might be
    Source: Merritt Herald

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