Answer to Question #15690 in Finance for raymond zhang jinsheng

Question #15690
him to put a down payment of 20% of the value of the house. The loan terms are as follows:
Interest rate on the loan 1.8% a year for the first two years and then the rate will be 3-month SIBOR + 0.5 percent. This rate will be adjusted every 3 months after the first two years. The loan period will be 15 years. If loan is approved, the monthly payments will start from September 1, 2012
(a) Calculate the monthly payment on September 1, 2012.

(b) If the SIBOR rate is expected to be 1.2% on September 1, 2014, calculate the revised monthly payment on September 1, 2014.
1
Expert's answer
2012-10-03T08:55:23-0400
The answer to the question is available in the PDF file https://www.assignmentexpert.com/https://www.assignmentexpert.com/homework-answers/economics-answer-15690.pdf

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS