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Open Question: Help Please! Accounting question ?
Maria Rodriguez put down the telephone and shook her head. Her boss had just called to say she wanted the monthly master budget for April, May and June before she left the office for the day. She had one and a half hours before she had to leave if she wanted to see her son’s recital that evening so she set to work. Central Alberta Sales imports merchandise from Mexico at an all in price of $25 per unit. The product is repackaged and sold for $45 a unit. Sales are consistently 20% cash and 80% credit. The credit sales are collected 70% the month following the sale with the remaining amount collected the next month. The March 31 balance in the accounts receivable account is $1,626,000. This amount includes all previous outstanding balances (including February) and is expected to be collected 70% in April and 30% in May. The projected unit sales for April, May, June and July are 99,000, 81,000, 132,000 and 117,000 respectively. The March 31 inventory of merchandise consists of 69,300 units. The desired ending inventory for each month is 75% of the next month’s sales units. All purchases are made on credit. Seventy five percent of purchases are paid in the month following the purchase and the balance is paid the next month. Accounts payable of $1,425,000 as at March 31 will be paid 75% in April and 25% in May. The following operating expenses are paid in the month incurred: • packaging equaling 8% of total sales dollars, • freight costs which average 3% of total sales dollars, • office salaries of $348,000 for April and May and $352,000 in June when a new employee starts, and • rent, utilities and other fixed overhead of $246,000 a month. Total amortization of $30,000 per month is projected. A new computer system has been ordered and is expected to arrive in June. The full purchase price of $250,000 must be paid on delivery but the system is not expected to be operation until the end of July. The company’s bank balance at April 1 is expected to be $20,000. Required: 1. Prepare a monthly master budget for the April, May and June It should consist of: a) Sales budget, b) Budgeted cash collections from customer, c) Inventory, purchases, and cost of goods sold budget, d) Budgeted cash payments for purchases, e) Operating expenses budget, f) Budgeted cash payments for operating expenses and g) a Cash budget. 2. Will the Central Alberta sales have enough cash on hand for the next quarter? If not, what size loan should the company negotiate with their bank? moreOpen Question: Amortization Question?
A couple is buying a home for $165,000. They plan to make a down payment of $20,000 and finance the rest through a mortgage loan at 6.5% compounded semi-annually. a) If they make $1000 monthly payments, how long (in years and months) will it take to repay the mortgage? b) What is the size of the final payment? moreResolved Question: In most loan amortization statements from banks, why is the principal payment not increasing as the time goes?
If you generate an amortization schedule from any of the only websites you see that over time the interest keeps on decreasing and the principal keeps on increasing. However, in real scenarios, when you receive the payment schedule from your bank, more often than not that is not the case. The principal portion of your payment isn't' always going up and the interest portion isn't always going down. Why is that? I have had this experience with both a home equity loan and an auto loan. When I received the transaction history for both loans there were several instances where the principal payment in a month was less than the previous month. moreResolved Question: PLEASE!!! HELP STATISTICS!!!?
STAT questions!!!! 10 pts? 1.) Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. $1300 at 10% for 114 days 2.) Use an amortization table to solve the problem. The monthly payments on a $78,000 loan at 11% annual interest are $743.35. How much of the first monthly payment will go toward interest. 3.) Find the payment necessary to amortize the loan. $12,100; 12% compounded monthly; 48 monthly payments 4.) Find the actual interest rate paid on the simple di. note. $4800; discount rate 5%; length of loan 9 months 5.) Fin the present value of the ordinary annuity Payments of $490 made annually for 13 years at 6% compounded annually 6.) Find the present value of the future amount. Assume 365 days in a year. $15000 for 110 days; money earns 8% 7.)Find the proceeds. Assume 365 days in a year. $20,000; discount rate 7%; length of loan 4 months 8.) Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated. $2500 at 7% compounded annually fo 12 years 9.) Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated. $6600 at 6% compounded quarterly for 4 years 10.) Find the present value of the ordinary annuity Payments of $89 made quarterly for 10 years at 8% compounded quarterly. moreVoting Question: In the philippines, if I'll buy property and avail of bank loan to pay remaining balance will I pay RE TAX?
I plan to buy a condo unit within Metro Manila, Philippines. I'm a Filipino.. If I pay the downpayment and avail of a bank loan to pay remaining balance will I still pay for the yearly real estate tax? I thought it should already be included in the monthly amortization payment? Technically I am not yet the owner, so I want to know if I should be the one to pay for it. Thanks... moreResolved Question: Zack owes $5536 on a line of credit with a 0.75% monthly interest rate. Assume Zack must pay a minimum of 6% ?
per year or 0.5% per month, of the outstanding loan balance, in addition to the monthly interest. What would be the breakdown of the beginning loan balance, monthly payment, interest component, principal component and the ending loan balance for the next four months. I'm assuming that the amortization period is one year. moreResolved Question: Is my dumbed down definition of amortization correct?
I'm trying to get a dumbed down definition of amortization in the context of a companies EBITDA data. My understanding is that amortization is basically money taken for the repayment of loans and interest. Is that correct? moreVoting Question: i need math help please!?
Help with Amortization? Ricky Bobby buys a car with a loan of $6,800. He agrees to amortize the loan by making monthly payments for 5 years. He pays interest of 10.8% per year. what is the amount of each payment? Bobby's monthly payment is $? Thank You! moreVoting Question: Help with Amortization?
Ricky Bobby buys a car with a loan of $6,800. He agrees to amortize the loan by making monthly payments for 5 years. He pays interest of 10.8% per year. what is the amount of each payment? Bobby's monthly payment is $? Thank You! moreResolved Question: what is the best strategy to refinance a home loan?
am paying $4800 monthly amortization. my loan is for ten years. moreResolved Question: Mortgage Commitment – is this Reasonable or Completely Wrong?
Hi All, I wanted to ask whether the following mortgage commitment I received from a small bank is reasonable or completely wrong(?) The mortgage commitment includes the following statement: "the loan balance upon maturity (5 years), with ALL INTEREST, charges and accessories, shall become due and payable on that date…. the mortgage will become due and payable in 60 months at which time the borrower, if all payments are made on the due date and any prepayment privilege is not used, will owe $155,000" (I rounded). However, the loan amount (principal) is only $120,000! My question is is this normal that after 5 years the bank has calculated I will owe $155,000?? I understand how they calculated it – they added the present value of all future interest payments (30 years) to the amount I will owe. However, is this standard meaning most banks do it this way or is it completely wrong to the extent I should not take their loan? What happens after 5 years if I want to continue with a different bank?? Lastly, in another section in the contract they mentioned" the mortgage is not renewable (after 5 years) on the same terms as described above (referring to interest and amortization). Therefore, on one hand if I take their mortgage it will never make sense to switch to a different bank after the 5 years term due to a HUGE penalty - will owe $155K where initial loan is only $120K. On the other hand if I stay with them they can now (after 5 years) charge any interest they want as they mentioned above. I guess the bottom line is if this is a common/standard practice and most banks do it this way I will take the mortgage however if this is completely wrong/unreasonable I will not. Is it even LEGAL for a bank to charge future interest (25 years interest) at the end of a term (5 years)? Don't they have to follow certain rules/regulations too? I would appreciate any advice on the topic. THANKS & REGARDS, Neil PS. it's a variable rate mortgage and the monthly payments include interest and principal moreResolved Question: Java Mortgage calculator help.?
Can someone help me flesh out the details of this? I need to make a mortgage calculator in java does the following The user will be asked to enter to the amount of the mortgage loan, the term in years of the mortgage, and an annual interest rate. The amount of the mortgage loan shall be greater than 0 and not exceed 10,000,000 dollars. The minimum term for the loan is five years, with a maximum of 30 years. In addition to the user being able to supply the mortgage information the application will display three of the most commonly used mortgages and the user shall be able to select these mortgages instead of supplying the mortgage information. Once the user has provided the mortgage information, the program shall calculate the monthly mortgage payment and the amortization table for the life of the mortgage. For each month the amortization table shall display the loan period, loan balance, principal balance, interest balance, principal paid and interest paid. Here is mortgage payment formula. PMT = (PV x IR) / (1 - (1 + IR)^-NP) Where: PMT = Monthly Payment PV = Principle Value (amount of loan) IR = Interest Rate, by month NP = Note Period, or mortgage term in months IR = apr/100/12 NP = term * 12 if Apr > 0 AND APR <= 100 then PMT = (Principal * IR)/(1-(1 + IR)-np) else if Apr = 0 PMT = Principal/NP end if I need help I am not so good with Java. As long as i get the calculator part of this done i think i can handle the rest. moreResolved Question: Mortgage balance is $58,000 @5.375% - 20 yr mortgage. Paying $1000/mo, how long to pay off mortgage - Thanks.?
20-year loan at 5.375% is for $72K where I've been paying $500/mo where now my balance is $58K. How long would it take if I paid $1000/mo to pay off my mortgage. I'm having a bit of trouble understanding how the amortization schedule works and would truly appreciate how to simplify the explanation of this formula. Thanks for your help! moreResolved Question: Should I feel guilty or ashamed if...?
In 2002, frustrated and unable to find a "reasonably priced" home, I buy a home in California for $380,000, no money down, ALT-A, with negative amortization, so I have a very low monthly payment and they cut me a check for $30grand for upgrades. By, 2006 the house is appraised for $680,000. Yet, being confident early on that the housing market is unsustainable to say the least, over the next three years I take $90 grand equity loan and put it in my stock account and short home-builders, financials, and retailers growing that initial investment to over $350,000. In late 2007, all but confident the US is headed for hyperinflation I take 90% of that and buy gold and foreign utilities growing my portfolio to half a million(so far). I then short-sale my home in California with the intention of buying a larger home for approx $250,000 cash or in my wife's name. Should I be ashamed or feel guilty if I used my knowledge of investments and channeled my frustrations of what I saw as an irrational greedy economy into personal profit? Betmoney. Why even comment. But, that's what ignornace does. Envy and greed is the reason I'll end up making over 2 million before next year and you'll be homeless and eating spam and beans every meal. The facts are evident regardless of how innacurate your opinion is. Now, for others with genuine responses your opinions are appreciated because I'm considering sponsoring a family this christmas. Wow! The hate. I'm torn on how I should feel. But, I didn't create the OBVIOUS bubble economy, lies and deceit. I just saw ignorant behaving irrationally. So, I decided to capitalize on the inevitable. Just like now. Is it not obvious all these bailouts will not work? I mean, isn't that how we got in this position? Our government says they will not raise our taxes, but they print more money for bailouts. Ok, when you debase my dollars by printing more and making them worth less, THAT is a tax. Do I not have a right to defend my family? moreResolved Question: I have an urgent math problem due tomorrow?
My problem asks Calculate the simple interest for a loan of $674,100 at a rate of 6% for 30 years. but I get a huge number when I compute the simple interest formula. Then it asks to compare it with my amortization schedule interest . Which according to me is at the very bottom where it says totals the amount is $776,998.20 and asks which is bigger and why? PLEASE HELP IF ANYONE CAN!!! once I compute the simple interest do I need to do anything else? moreResolved Question: Can anybody explain to me how mortgages really work?
I went to some mortgage calculator website and put those numbers. Loan amount: $100,000 Interest rate: 5.20 % Amortization: 25 Monthly mortgage payment will be: $593.04 Yearly: $7116.48 What really confused me was when I calculated the total payment after 25 years. 7116.48 X 25 = $177,912 The question is, how come only %5.20 interest rate will end up paying about 77K over the original 100k price of the property? Or is it how things work out for mortgages? Sorry I'm from 3rd world countries and kinda don't get things right over there. moreResolved Question: Simple C++ program, not compiling, I'm having trouble?
Please bear with me. I am a first year CS student and I know the mistakes I've probably made are silly. // Mortgage Calculator #include <iostream> #include <string> #include <iomanip> #include <cmath> using namespace std; int main() {// User input cout << "Welcome to Eric's Mortgage Calculator!"<< endl; string name; cout << "First,what is your name?" << endl; getline(cin,name); string address; cout << "Your address?" << endl; cin >> address; string city; cout << "Your city?" << endl; cin >> city; string state; cout << "Also, your state?" << endl; cin >> state; string zip; cout << "And your zip code?" << endl; cin >> zip; cout << "Okay, now you're house..." << endl; string cost; cout << showpoint << fixed << setprecision(2); cout << "What is the cost of your home?" << endl; cin >> cost; string downPayment; cout << "And how much is the downpayment?" << endl; cin >> dp; string ir; cout << "What is the interest rate of your loan? (Please enter with decimal =))" << endl; cin >> ir; string yrs; cout << "How many years is the loan for?" << endl; cin >> yrs; //Calculations and assignments float num = cost * (ir * (1 + ir)); float num2 = pow(num, 12); float den = (1 + ir); float den2 = pow(den, 12); float den3 = (den2 - 1); float monthlyPayment = (num2 / den3); //Output //Their info cout << endl; cout << endl; cout << "Your information:" << endl; cout << left ; cout << "Name:" << name << endl; cout << "Address:" << address << endl; cout << "City:" << city << endl; cout << "State and Zip:" << state << "," << zip << endl; // Their calculations cout << endl; cout << endl; cout << "And here are your calculations," << name << endl; cout << "Cost:" << cost << endl; cout << "Down Payment:" << downPayment << endl; cout << "Interest rate:" << ir << endl; cout << "Life of loan:" << yrs << endl; cout << "Approximate Mortgage Payment:" << monthlyPayment << endl; I know I'm not declaring the variables right. I think I should be using char or string for some. I also think my syntax for the formula is messed up. Heeeellpp! By the way this is a program that calculates the monthly payment of a mortgage using the amortization formula. moreVoting Question: How do I make this amortization table in excel?
I need to make an amortization table, but I cannot figure out how to write the formulas. The loan is for 5000, with an annual interest of 15% for 5 years. Please Help! Thanks! moreResolved Question: How to construct a loan amortization?
Construct a loan amortization shecduled for a 3yr. 11% loan of $30,000. The loan requires three equal, end-of-year payments. I need help with the formula: $30,000=PMT(PVIFA 9,4) moreResolved Question: Do I have a Rule of 78 loan? ?
My wife and I got a used car last November. It was $16,500, over 4 years our payments come out to $445 with warranty and what not. Both of our credits were not that great, so we did get higher interest. We are looking at selling the car private party for $14k-$15k. Here is the issue though. All loan amortization charts I have seen or have made say our payoff is approximately $14-$15k. However, the place we got the loan says it is $18,500 for the payoff amount. Why would that be? The only thing I have run across is the Rule of 78 situation. The thing is we live in Oregon where it says that is outlawed. I haven't dug in too deep on this one yet. I haven't called the company as I am just discovering what could be going on. What would be the reason for the high payoff amount when compared to how much we actually owe? Any thoughts? Thanks for the help! moreResolved Question: Indy Mac Mortgage HELP!?
I seek your advice and opinions, please. My parents purchased a home in 2004, originally had a good loan and affordable-$2400/month. My father was bread winner and paid most of the rent. My parents divorced in 2005. My mother alone, who was a first time home buyer, Indy mac loans under her name, had to pay the full rent til' today. She has never been late/default on her mortgage payments. She works two jobs. She refinanced twice, once in 2005 and second time in late 2006 to drop down her monthly rent. Now, she is in negative amortization (she owes more than the house is worth, pre-penalty until Sept 2009 (then she will need to pay close to $4,000 of mortgage) on the 1200 sq. ft. house. My mother being uneducated on the real estate business, and dealing with those sneaky mortgage consultants/lenders that set her up on these bad loan terms, now will need to pay about 4,000 per month next year. can she do a loan modification to go back to at least $2400/month? Loss of Mitigation Dept. -continued...we just heard of the Loss of mitigation dept in Indy Mac and seeking if we can negotiate.... if not then we all know where this is going..into foreclosure... moreVoting Question: What kind of loan can you get on a home in Newport Beach, CA? Assume excellent credit.?
I want to know what kind of loan terms (i.e. rate, loan amount (% of price), amortization, etc etc) someone with excellent credit can get on a home in Newport Beach, CA. Thanks! moreVoting Question: Amortization table?
monthly payments on 76,000 loan at 12% annual interest are $836.76. How much of the first monthly payment will go toward interest? a)912 b)736.65 c)760 d)100.41 moreResolved Question: How do I calculate payments on a amortized loan?
So I have a Business Analyst BAII Plus, Texas Instruments calculator and I want to know how to figure out the payments on a loan. I know how long payments will be made, interest rate, amortization (years), and loan amount. Can anyone tell me how to calculate this using my calculator, or any websites that can tell me. Thanks! moreResolved Question: Can any one explain how an amortization fixed loan works with pros and cons please ?
moreResolved Question: How to determain car loan interest?
I can track my mortgage payments from an amortization schedule and see exactly how much I need to pay each month in order to get it paid on in x amount of time (I put this together on an excel spreadsheet). I want to do this with my car loan, but each month the interest is a different rate. One month I see that 36% of my payment went to interest, the next month its 28%, the next month its 31%. Seems to me the best plan would be to send in extra payments during the months that the interest is the lowest so that more goes towards the principal - but how in the world am I supposed to know when they will take more or less interest? Can I ask them to just give me a fixed rate each month? moreResolved Question: hi. i friend have loaned an amount of money here in the middle east from an international bank..?
he's planning to work outside the middle east. the question is, how can he continue paying for the remaining amortization or debt? please help him.. moreResolved Question: What is the excel formual to find interest rate?
I have an amortization of 60 months, monthly payment amount and original loan amount. I am trying to find the excel formula that will help me compute the rate. i tried =rate(nper, pmt, pv)...but i get an error. what am i doing wrong? moreResolved Question: Need an amortization chart for loan of $3000 with weekly payments of $25 at 9% APR?
Any good sites for this? moreResolved Question: Will my loanable amount change if I transfer to another company during the course of my pagibig application?
the initial assessment for my loanable amount is Php750,000. I applied my pagibig loan through the developer last February 2008. Now I am planning to transfer to another company but with a lower pay. Would that affect my loanable amount even though I have already applied for the loan since Feb 08? my equity will end on Nov so most probably the amortization will start by December. Please help. moreResolved Question: What do I do if I believe my Mortgage Company is overcharging?
I am on a adustable rate. I have had the loan for over five years. The payments started at $675.00 and is now close to $1000.00. I paid all negitive amortization and have paid an extra hundred or two on top of that. I also would drop between $1000.00 to as much as $5000.00 extra on the principal, thinking it would lower the payment. The rate has come down to what it was when I started the loan and yet the payment is still 25% higher. I talked to there accounting supervisor who said it was not following a regular pattern. He went to talk to his manager and when he returned would only say "your payment is your payment" to every question that I would ask even if it did not make any since. I am not sure who I would trust to look in this and be on my side. I live in Long Beach, CA. moreResolved Question: Amortization Schedule?
How to calculate my Amortization Schedule? Do I ask where I got my loan or the bank. I just want to know how to get it. moreResolved Question: Loan amortization help?
Do a loan amortization for $150,000, 30-year mortgage loan at a rate of 5 percent and answer the following questions: a. How much is the monthly payment? b. How much of the first payment (i.e., year 1, month 1) goes towards interest? How much toward principal reduction? c. How much of the 180th payment (i.e. year 15, month 12) goes toward interest? How much toward the principal reduction? d. What is the remaining balance on the loan at the end of the 5th year? moreResolved Question: How can I calculate my car monthly payment - at the dealership?
Where can I find a amortization chart, or a formula for my calculator to take to the dealership if I have to use their financing (I have a 5 year old bankruptcy) They will rip you when they start asking what you want your monthly payment to be - for me it is the interest rate and amount of time for the loan. I need to be able to calculate this stuff based on interest rates they will give me - there at the dealership. so I wont have my computer to do calculations automatically. moreResolved Question: help with finding loan payment (amortization) formula (installment)?
Go to your two favorite car dealers and select any new automobile that you would like to own. Select a car from each site. List each type of car (i.e. make, model, and added options, if applicable). For each car, find the price. Include in the price the dealer prep, tax, title, etc (if applicable). Assume you have $1000 for a down payment. Using the formula above, calculate the monthly payment for each car assuming you can borrow at 8% APR for five years. Compute the total amount of payback for each car. Assume you have a down payment of $2500 and a 12% APR. Compute the monthly payment and the total amount of payback for each car $ 70,825 $105,050 moreResolved Question: excel 2007 question?
A series of fixed payments is called _____. an annuity amortization a loan a mortgage moreResolved Question: Would you consolidate your debt into this loan?
If your interest rate was about 1% higher than your current mortgage, but the loan has a debt repayment plan that gets you out of debt 10 years sooner and save you over $100k in total interest? Plus, you save about $200/month in debt payment and you can apply some of it toward the principal and invest the rest. I just don't get why some people would say no. Maybe its because it sounds too good to be true and they don't believe it, even though everything is printed out and a loan amortization schedule is given. Oh well, some people are just ignorant to information or they have really been brainwashed that interest rate overrides all other important data. moreResolved Question: Auto loan amortization question?
I am wondering if when you obtain an auto loan, does the amount that goes to principal and interest stay the same throughout the life of the loan unlike a home loan where at the start most is interest? Please supply a link as well if you have one showing where I can see more info if you have one available. moreResolved Question: What is the best way to get a mortgage loan modified?
I am barely able to pay the minimum payment( I have a negative amortization loan) My credit is bad. Is it better to try to get a modification when we start earning more money? My property is worth less than what I owe. moreResolved Question: What happens to house in foreclosure when someone dies.?
My mother died and did not make specific bequest for condo as it is going into foreclosure. It was refinanced 2 years ago with a negative amortization loan. The loan is due to recast and none of her children can take over the loan. She was "upside down" and in this housing market (in Las Vegas) there is no chance of selling. If the foreclosure proceeds, how will this affect the surviving children? Can they be held responsible? moreResolved Question: If I make double principal payments on my mortgage should it take more than one month off the end of the loan?
I just started my payments in Dec of '07, and have been making double and triple principal payments every month. I've been keeping track with the online amortization schedule which updates after each payment. The extra payments only seem to be taking one month of the end of the loan. I always heard that paying extra take "months" off your loan which makes since to me... less principal = less interest over the life of the loan = months of savings. Can someone explain it to me in more detail...Thanks. It's a 20 year loan, there is no early repayment penalty, and I'm 100% sure the extra payments are going to principal. moreResolved Question: perhaps a simple MaTH question to some?
so i'm looking at this amortization chart: loan = 18000 interest = 7% over 3 years beginning l payment l interest l principal l new balance l l l l 18,000.00 l $555.79 l $105.00 l $450.79 l $17549.21 17549.21 l $555.79 l $102.37 l $453.42 l $17095.79 & etc. the question : * HOW DO YOU OBTAIN THE INTEREST RATE BY DOING IT OUT?!?!** thanks <3 yes i do have a TI- 83 PLUS ! just please help me figure out how to get the interest ! thanks <3 by the interest i mean like the NEXT MONTH's interest by the interest i mean like the NEXT MONTH's interest moreResolved Question: for the math savvy : A question about paying your car INTEREST?
so i'm looking at this amortization chart: loan = 18000 interest = 7% over 3 years beginning l payment l interest l principal l new balance l l l l 18,000.00 l $555.79 l $105.00 l $450.79 l $17549.21 17549.21 l $555.79 l $102.37 l $453.42 l $17095.79 & etc. the question : * HOW DO YOU OBTAIN THE INTEREST RATE BY DOING IT OUT?!?!** thanks <3 whoops* if the chart confused you the first column is Beginning Balance second column: PAYMENT third column: INTEREST fourth column: PRINCIPAL PAYMENT fifth column: NEW BALANCE moreResolved Question: Are my fantasies abnormal?
When I am with the wife sexually, in order to achieve 'bliss' I usually think about Advanced Amortization Tables for mortgages. This does it every time and I'm not even a loan officer. But, the wife said I am strange and that I should think about HER or at least strippers or unsuspecting farm animals, etc. I thought that the modern person is allowed to think of whatever they want? Do you agree with me that my fantasies are none of her business? moreResolved Question: this is a java amortization table and i need some help in figuring about with the for loops and calculations.?
import java.util.Scanner; import java.text.DecimalFormat; public class LoanPayment { //main method beings with exevution of Java application public static void main ( String args[]) { //create scanner to obtain input from command window Scanner input = new Scanner(System.in); DecimalFormat decimalPlaces=new DecimalFormat("0.00"); //Create Format System.out.print("Welcome to the Loan Payment Calculator by Jeffery Smith"); System.out.print("\nFor Exercise 1 in CMIS 212"); //declare variables double I; double LB; double CC; double DP; double Y; double PpY; double MonthlyPayment; //declare variable for exercise 2 double NB; double PA; double IA; double IB; //declare variables for totals double PT = 0; double IT = 0; double BT = 0; //instruction line System.out.println("\nFor each of the prompts below, enter a single value and press Enter:"); //prompt System.out.print("Yearly Interest Rate:"); I = input.nextDouble();//read first number from user System.out.print("Loan Amount:$"); LB = input.nextDouble();//read first number from user System.out.print("Closing Costs:$"); CC = input.nextDouble();//read first number from user System.out.print("Down Payment:$"); DP = input.nextDouble();//read first number from user System.out.print("Time(in years) for loan:"); Y = input.nextDouble();//read first number from user System.out.print("Number of payments per year:"); PpY = input.nextDouble();//read first number from user //formula to the the MonthlyPayment MonthlyPayment = (I * (LB + CC - DP)) / (PpY * ( 1 - Math.pow(1 + I/PpY, -Y * PpY) )); MonthlyPayment = Math.ceil(MonthlyPayment *100)/100;//round to the nearest cent System.out.printf("The total is $%.2f\n", MonthlyPayment ); System.out.println("\nYear\tPayment\tPrinciple\tInterest\tBalance"); System.out.println("------------------------------------------------------------"); IB = LB + CC - DP; IA = IB * (I / PpY); PA = MonthlyPayment * Math.pow(1+IA,PpY); NB = IB - PA; for (int year = 1; year <= Y; year++) { for (int payment = 1; payment <= PpY; payment++) { NB = IB* Math.pow( 1.0 + I, -payment ); PA = MonthlyPayment * Math.pow(1+ I, -payment); IA = PA * Math.pow(1+ I, -payment); for (int number = 1; number <= PpY*Y; number += 1) { PT = PpY * PA; } for (int number = 1; number <= PpY; number += 1) { IT = PpY * IA; } System.out.printf("%s \t%3d% 11.2f\t %12.2f\t %15.2f\n",year, payment, PA, IA, NB); } System.out.println("::::::::::::::::::::::::::::::::::::::::::::::::::::::::"); System.out.printf("Year %s Totals: Principle: %.2f Interest: %.2f Balance: %.2f\n", year,PT,IT, NB); System.out.println("::::::::::::::::::::::::::::::::::::::::::::::::::::::::"); }// end for loop }//end method main }//end class LoanPayment moreVoting Question: Negative amortization tax deductible?
I refinanced my mortgage in 2007, and added the negative amortization to the new loan.....Does that mean I can deduct this amount from my 2007 taxes? Many thanks! v_b: the negative amortization is included in the new loan....isn't that considered paid??? moreResolved Question: Is this a fair situation?
A friend of mine took a loan on my behalf about 11/2 years ago and we signed a promisory note that I'll repay the loan monthly until paid in full. Our friendship ended but I still keep my promise and have been paying on the loan. I just found out that she refinanced the loan without telling me and I have been paying the same amount and more for the past year. I haven't missed any payments and pay twice as much as I should be paying and have records. What is my legal right in this matter? I have requested a valid bank statement be sent to me since I don't have access to the account but whenever I asked for a statement she sent a table of amortization and the payments made so far. What is/are my rights in this matter? Please help. moreResolved Question: Need help understanding my loan rate?
Need help understanding my loan rate? A loan I’m working says the following: 25 year amortization 9 year maturity Annual rate of 6.25% for 3 years adjusted to 3 yr. US Treasury Securities + 2.25% in years 4 and 7. What does all of this mean? moreResolved Question: aimerais tableau d'amortissement 4% 100mois?
chart of amortization of a loan of $20000.00 at a rate of 4 % for a term of 100months moreResolved Question: Should I pay down my negative amortization home loan w/my tax return? We got 10K back and the neg am is 10K.?
We got the home loan 1 year ago and the negative amortization is about $10K. We are trying to sell our house in a poor market in Naples, FL. We don't need the money. We otherwise will just put it in the bank for now. moreLoan Amortization News
loan amortization
-- $14.6 million class D at 'AAA'; Outlook Stable; -- $25.6 million class E at 'AAA'; Outlook Stable; -- $11 million class F at 'AAA'; Outlook Stable; -- $16.5 million class G at 'A-'; Outlook Stable; -- $20.1 million class H at 'B'; Outlook Negative ...
Read moreFitch Ratings Affirms JP Morgan 1999-C8; Assigns Outlooks - PR Inside
TORONTO and NEW YORK, Dec. 16 /PRNewswire-FirstCall/ - Oppenheimer Holdings Inc. (OPY on the NYSE) and its subsidiaries, E.A. Viner International Co. and Viner Finance Inc., have reached an agreement with a syndicate led by Morgan Stanley Senior ...
Read moreOppenheimer amends the terms of its Lending Agreements - Yahoo Finance
WASHINGTON (MarketWatch) -- Question: The holder of my mortgage went bankrupt, leaving only the "servicing/debt collection arm" to deal with. I have a negative amortization loan and need to try and reconfigure. I am getting nowhere with the servicing ...
Read moreReworking your mortgage - Marketwatch
www.marabellafinance.com - Marabella Commercial Finance has originated permanent financing for a 1031 Net Leased Walgreen and Rite Aid Property. For the Walgreen property the loan amount came to $3,600,000. The amortization structured was for a ...
Read moreMarabella Commercial Finance Closes Walgreen and Rite Aid Loans in ... - PR Inside
BankUnited Financial expects to report a loss of about $327 million for its fourth quarter and warned its loss could be substantially worse, raising ``substantial doubt about our ability to continue as a going concern.'' The Coral Gables thrift ...
Read moreBankUnited estimates big loss - Miami Herald
Question: We are buying a second home in Arizona and are debating whether to combine the loan with our first mortgage on our home in the Seattle area or having two loans. Combining would save $650 per month. $2,700 vs. $3,350. What are the pluses and ...
Read moreWeigh your needs when deciding loan options - Everett Herald
Brazilian government controlled oil and gas multinational Petrobras announced this Friday, December 12, that it made loans from three Japanese banks, for the value of 75 billion yen (around US$ 824 million), for investment in the Henrique Lage ...
Read moreBrazil's Petrobras Gets US$ 800-Million, 10-Year Loan from 3 Japanese ... - Brazzil Magazine
If you thought we were almost done with the collapse of the mortgage market, you are sadly mistaken. Last night 60 minutes did a piece about the looming wave of mortgage defaults, Alt-A and option ARMs. While, as Scott Wilson outlines below in his ...
Read moreSubprime Defaults Are Just The Beginning - Nuwireinvestor.com
MLB teams owe roughly $30 million to lenders beginning this week in accelerated principal payments sparked by the league’s inability to refinance its entire credit facility, according to banking and club sources. Many middle-market teams that have ...
Read moreMLB refinances portion of credit facility - Sports Business Journal
Fixed-rate loans. Because they offer a monthly payment that is known and does not change, fixed-rate mortgage loans remain the most popular type. Most fixed-rate mortgages are for loan terms of 15 or 30-years. A 30-year loan has lower payments but a ...
Read moreLoan Amortization Links
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