Ask Question
BusinessBusiness
6 December, 00:23

mackenzie burrows $300,000 from the bank on a 30 year mortgage she is given an interest rate of 5.125% apr how much will get monthly payment be in principal and interest?

+3
Answers (1)
  1. 6 December, 03:36
    0
    1633.46

    Explanation:

    If you borrow $300,000 at 6.500% for 30 years, your monthly payment will be $1,896.20.

    The payments on a fixed-rate mortgage do not change over time. The loan amortizes over the repayment period, meaning the proportion of interest paid vs. principal repaid changes each month. As the loan amortizes, the amount of monthly interest paid decreases while the amount of principal repaid increases.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “mackenzie burrows $300,000 from the bank on a 30 year mortgage she is given an interest rate of 5.125% apr how much will get monthly ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
8. Short-run and long-run effects of a shift in demand Suppose that the shrimp industry is in long-run equilibrium at a price of $5 per pound of shrimp and a quantity of 150 million pounds per year.
Answers (1)
A made an offer to C to sell his car to him for $5,000 anytime before the end of June, but it wasn't in writing. Is the offer valid? yes or no
Answers (1)
At the gingerbread factory, gretel works from 7 a. m. to 7 p. m. monday through thursday, while hansel works from 7 a. m. to 7 p. m tuesday through friday. this is an example of
Answers (1)
holds huge reserves of oil. Assume that at the end of 2017 , Amplify Petroleum 's cost of oil reserves totaled $ 80 comma 000 comma 000 , representing 100 comma 000 comma 000 barrels of oil.
Answers (1)
Temporary workers-often called temps-may not be subject to the contractual obligations or general policies that govern other employees. a. True b. False
Answers (1)
New Questions in Business
true or false Activity cost pools are factory overhead costs initially budgeted for activities, such as machine usage, inspections, moving, production setups, and engineering activities.
Answers (1)
Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information. Within each section of the statement, use the drop-down menus to enter the accounts.
Answers (1)
A company is considering purchasing a machine for $21,000. The machine will generate an after-tax net income of $2,000 per year. Annual depreciation expense would be $1,500. What is the payback period for the new machine? a. 4 years. b. 6 years. c.
Answers (1)
A company purchased a delivery van for $15,500 with a salvage value of $2,300 on September 1, Year 1. It has an estimated useful life of 4 years.
Answers (1)
Money has a time value because
Answers (1)
Home » Business » mackenzie burrows $300,000 from the bank on a 30 year mortgage she is given an interest rate of 5.125% apr how much will get monthly payment be in principal and interest?
Sign Up Forgot Password?