Could you help me solving this problem, I solved the first part but I'm missing the second (Balloon Payment):

1
=PMT(4%/12,12*30,-250000)=1193.53823866365
2
=FV(4%/12,12*5,PMT(4%/12,12*30,-250000),-250000)=226118.782840227
Could you help me solving this problem, I solved the first part but I'm missing the second (Ballo...
Olivia plans to secure a 5-year balloon mortgage of $290,000 toward the purchase of a condominium. Her monthly payment for the 5 years is calculated on the basis of a 30-year conventional mortgage at the rate of 3%/year compounded monthly. At the end of the 5 years, Olivia is required to pay the balance owed (the "balloon" payment). What will be her monthly payment for the first 5 years, and what will be her balloon payment? (Round your answers to...
Olivia plans to secure a 5-year balloon mortgage of $260,000 toward the purchase of a condominium. Her monthly payment for the 5 years is calculated on the basis of a 30-year conventional mortgage at the rate of 5%/year compounded monthly. At the end of the 5 years, Olivia is required to pay the balance owed (the "balloon" payment). What will be her monthly payment for the first 5 years, and what will be her balloon payment? (Round your answers to...
I just need help with the last two answers.
I am not sure why they were counted as incorrect? Thanks.
Five years ago, Diane secured a bank loan of $380,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 9% per year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to...
Five years ago, Diane secured a bank loan of $380,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 10% per year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 7% per year compounded monthly, Diane is thinking of refinancing her property. (Round your answers to the nearest cent.) (A)...
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14. + 3.58/7.18 points Previous Answers TanFin 11 5.3.048. My Notes Five years ago, Diane secured a bank loan of $340,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 2.5%/year compounded monthly, Diane is thinking of refinancing her property....
14. # -/7.18 points TanFin11 5.3.048. My Notes Five years ago, Diane secured a bank loan of $340,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 2.5%/year compounded monthly, Diane is thinking of refinancing her property. (Round your answers to...
Five years ago, Diane secured a bank loan of $310,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 25 yr, and the interest rate was 6%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 25-yr home mortgage has now dropped to 4%/year compounded monthly, Diane is thinking of refinancing her property. How much less would Diane's monthly mortgage payment be if she refinances?...
8&9
12 points TanFin12 52027 8. My Notes O Ask Your Teacher The Johnsons have accumulated a nest egg of $40,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2300/month in monthly payments (to take advantage of the tax deduction) toward the purchase of their house. However, because of other...
15. [-/0.1 Points] DETAILS TANAPMATHS 4.3.048. MY NOTES PRACTICE ANOTHER Five years ago, Diane secured a bank loan of $300,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 yr, and the Interest rate was 10%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-yr home mortgage has now dropped to S%/year compounded monthly, Diane is thinking of refinancing her property. (Round your...
Please help me do 2 questions! I can't do that! Thank
you.
r 6. 0/1 points | Previous Answers TanApMath7 4.2.021 My Notes Ask Your Teacher Luis has丰190,000 in his retirement account at his present company. Because he is assuming a position with another company, Luis is planning to "roll over" his assets to a new account. Luis also plans to put $2000 quarter into the new account until his retirement 30 years from now the new account earns interest...