Topic
Q:
Use PMT \( =\frac{P\left(\frac{r}{n}\right)}{\left[1-\left(1+\frac{r}{n}\right)^{-n t}\right]} \) to determine the regular payment amount, rounded to the nearest
dollar. In terms of paying less in interest, which is more economical for a \( \$ 230,000 \) mortgage:
a 30 -year fixed-rate at \( 10 \% \) or a 20 -year fixed-rate at \( 9.5 \% \) ? How much is saved in interest?
Q:
41. What capitalization rate is indicated by a property producing \( \$ 10,000 \)
annual NOI for which an investor paid \( \$ 125,000 \) ?
Q:
You have \( \$ 2,500 \) on a credit card that charges a \( 19 \% \)
interest rate. If you want to pay off the credit card in 5
years, how much will you need to pay each month
(assuming you don't charge anything new to the card)?
Q:
Suppose you want to have \( \$ 600,000 \) for retirement in 35
years. Your account earns \( 10 \% \) interest. How much would
you need to deposit in the account each month?
Q:
40. Effective gross annual income generated by an apartment house is
\( \$ 112,000 \). Operating expenses are \( \$ 53,700 \). What capitalization rate is used
to obtain an indicated value of \( \$ 500,000 \) ?
Q:
Jayson buys a car and pays by installments. Each installment is \( \$ 567 \)
per month. After 48 months, Jayson owes \( \$ 1,250 \). What was the total
price of the vehicle?
Q:
39. Lois Lane can obtain an \( 80 \% \) conventional loan to purchase a home
selling for \( \$ 428,000 \). If the property appraises for \( \$ 425,000 \), what will be
the required down payment if she buys it for the asking price
Q:
You have \( \$ 400,000 \) saved for retirement. Your account
earns \( 7 \% \) interest. How much will you be able to pull out
each month, if you want to be able to take withdrawals for
20 years?
Q:
You can afford a \( \$ 350 \) per month car payment. You've found
a 5 year loan at \( 5 \% \) interest. How big of a loan can you
afford?
Q:
You deposit \( \$ 4000 \) in an account earning \( 3 \% \) interest
compounded monthly. How much will you have in the
account in 10 years?
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