You want to ourchase a house that is priced at $85000. you can get a loan for 80 percent of the banks appraised value at 15 1/4 percent for 30 years with monthly amortization. the banks appraiser has a theory that the value of a house is 95 percent of the asking price and appraises it accordingly . what will be your monthly payment if you take the loan?

set up an amortization schedule for years 1-5 for this problem showing annual mortgage payment amounts, yearly mortgage balances, principal, and interest for each year (total)

Suppose that jim plans to borrow money for an education at texas a& m university. jim will need to borrow $25,000 at the end of each year for the next five years (total=$125,000). jim wishes his parents could pay for his education but they can’t. at least, he qualifies for government loans with a reduced interest rate while he is in school. he has a special arrangement with aggiebank to lend him the money at a subsidized rate of 1% over five years without having to make a payment until the end of the fifth year. however, at the end of the fifth year, jim agrees to pay off the loan by borrowing from longhorn bank. longhorn bank will lend him the money he needs at an annual interest rate of 6%. jim agrees to pay back the longhorn bank with 20 annual payments and the payments will be uniform (equal annual payments including principal and interest). (i) calculate how much money jim has to borrow at the end of 5 years to pay off the loan with aggiebank. a. $121,336 b. $127,525 c. $125,000 d. $102,020 e. none of the above

Rahm's credit card issuer calculates interest based on the outstanding balance at the end of the last billing period. what is this method of calculating interest on a credit card called?

Match each economic concept with the scenarios that illustrates it