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Suppose a homeowner purchased a home for $600,000, with 100%…

Posted byAnonymous July 4, 2021December 5, 2023

Questions

Suppоse а hоmeоwner purchаsed а home for $600,000, with 100% financing at 5 percent for 30 years.  Payments are made yearly at the end of each year.  It seems to me that the payments at the end of each year would be $39,031, or at least close to that. Some present value factors I used are: Present value of an annuity periods 4%   5% 29 16.98371   15.14107 30 17.29203   15.37245 After one payment, the owner has the opportunity to refinance the principal at 4% for the remaining 29 years.  How much will the new payments be when the homeowner refinances at 4% after the first payment on the original loan?

Suppоse а hоmeоwner purchаsed а home for $600,000, with 100% financing at 5 percent for 30 years.  Payments are made yearly at the end of each year.  It seems to me that the payments at the end of each year would be $39,031, or at least close to that. Some present value factors I used are: Present value of an annuity periods 4%   5% 29 16.98371   15.14107 30 17.29203   15.37245 After one payment, the owner has the opportunity to refinance the principal at 4% for the remaining 29 years.  How much will the new payments be when the homeowner refinances at 4% after the first payment on the original loan?

Suppоse а hоmeоwner purchаsed а home for $600,000, with 100% financing at 5 percent for 30 years.  Payments are made yearly at the end of each year.  It seems to me that the payments at the end of each year would be $39,031, or at least close to that. Some present value factors I used are: Present value of an annuity periods 4%   5% 29 16.98371   15.14107 30 17.29203   15.37245 After one payment, the owner has the opportunity to refinance the principal at 4% for the remaining 29 years.  How much will the new payments be when the homeowner refinances at 4% after the first payment on the original loan?

Suppоse а hоmeоwner purchаsed а home for $600,000, with 100% financing at 5 percent for 30 years.  Payments are made yearly at the end of each year.  It seems to me that the payments at the end of each year would be $39,031, or at least close to that. Some present value factors I used are: Present value of an annuity periods 4%   5% 29 16.98371   15.14107 30 17.29203   15.37245 After one payment, the owner has the opportunity to refinance the principal at 4% for the remaining 29 years.  How much will the new payments be when the homeowner refinances at 4% after the first payment on the original loan?

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