Finding The Best Solutions And Ideas For Planning For Your Retirement.
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My husband I just bought home in July 2008 for 87k. Our interest rate is at 6.25. With the mortgage rates falling because of the economy, we would like to refinance to pay off some bills and to get a lower rate. We are first time home buyers and have a fixed 30 year FHA loan. Do we have to wait one whole year to finance or can we do it now?
If I were able to refinance I would get a lower interest rate thus lowering my monthly bill allowing me to pay on time without getting backed up.
I just bought a home last October. I signed a single 30 year mortgage for 280,000. My interest rate is 6.75%. I have only made 3 payments on this mortgage. With interest rates dropping when is a good time to refinance?
Hello, so do I contact a mortgage company, pay for an apprasial on my home, provide all financial data such as the amount of money in my bank accounts, get a credit check, quoted a refinance fee, then possibly get approved for a lower interest rate and we are done? How long does this process take?
thanks and tcwhiting your links are broken
given the amount of money the man has available to invest, the insurance company is able to offer two alternatives. the first option is to receive 85 each month for as long as he lives; the second option is to receieve 00 each month, but for only 20 years (payments will be made to his estate if he should die before that time) the relevant interest rate is 6 percent per year. how long must the man live so that the first option is a better deal?
can someone plz help me answer this question for my finance assignment?
Owned a home for over a year now interest rate at 6.125 with a little more than 30,000 in equity in my home, would like to know what the process is for refinancing my loan, how much will it cost and if it will save me money, if anyone has recently gone through a refi please tell me about your experience! THANKS!
I have a math exam tomorrow and I have no idea how to solve these questions except these two formulas:
P0*(1+r/n)^(t*n)
A(t)=A0(1+r)^t
SO I have three questions but I will be really glad if you only solve ONE OF THEM.
1) Suppose you invested money in accounts as described below:
Account A: 600$ at 7% annual interest compounded monthly.
Account B: 500$ at 8% annual interest compounded annually.
If you invested in the accounts at the same time, when would the accounts be equal?
Attempt to solution: I know that I need to use P0*(1+r/n)^(t*n) formula and graph these two equations into my graphing calculator and find the intersection point however I keep doing something wrong.
2) A radioactive material decays such that after 2 days 226.27 g remain, and after 5 days 134.54 g remain. Find the equation for the amount remaining after t days. How much is remaining after 10 days?
3) In planning for retirement, would it be wiser to invest 0 in an account that has 7% annual interest rate compounded continuously, or 0 in an account that has 5% annual interest rate compounded annually? Justify your answer.
SO I HAVE A MATH EXAM TOMORROW AND IF I DO NOT GET A HIGH GRADE, I WILL PROBABLY FLUNK FROM THIS COURSE. ANY HELP WILL BE APPRECIATED!
Say an interest rate of 5.5% and 7.5%.
The equation I was given is
P = R((1-(1+i)^-n)/i)
P is present value of annuity, i is the interest rate per period, and n is the the number of periods.
Thanks a lot!
I have a client who is Muslim and I understand the issues with earned interest. Client would like to get permanent insurance, but he was not sure about whole life being OK. The cash value does earn a return, but the company does not state a fixed interest rate. Dividends are a return of premium based on performance of the entire product (such investments, expenses and actual death claims). Another alternative is variable life, where the cash value can be put into separate accounts (similar to mutual funds) and not interest bearing. Any opinions on if whole life is acceptable for Muslims?
Since the interest rate is low now, i’m thinking of refinancing my house. But I have no idea what to do or where to start, e.g. should I look for a bank (fiancial institute) that offers lower rate and contact them; what do I do with my current mortgage? Is it worthy refinancing at all?
Please anyone help me with this? Details will be greatly appreciated. I’m dying here…
We recently moved and because we were unable to sell our home, we decided to rent it. We were unable to refinance at the interest rate we wanted because it is now a rental property. We would like to lower our monthly payment, but have heard that many banks won’t give you a decent rate on a rental. Any ideas?
My husband and I are facing a foreclosure on our rental property and we’re considering walking away from our primary residence, a condo, also. Would two foreclosures be just as bad as one?
My husband and I are facing a foreclosure on our rental property and we’re considering walking away from our primary residence, a condo, also. Would two foreclosures be just as bad as one?
As an added bit of info- we already pursued a short sale with the lender for our rental and they let 6 months pass and 5 buyers walk.
Our primary residence, the condo, has been up for sale for 6 months and we’ve had 2 offers that were too low for us to afford (we would have been owing money). We can’t rent the condo and break even on our mortgage and there are 10 others just
like it for sale with the owners having lots of equity to negotiate with (we used ours to buy the rental).
While we understand that the foreclosure means that we will be renting for a very long time, we’re wondering if we should just move before the condo’s interest rate goes up and we are paying WAY too much for a one bedroom condo just for the sake of avoiding another foreclosure.
Steve wants 000 per year in his retirement. He plans to be in retirement for 30 years. He has 25 years to work. Assume an interest rate of 7% for the next 55 years. How much does he need to deposit at the end of each year while he is working in order to have saved enough?
First one issued 25 years ago at a coupon rate of 7% and the second 5 years ago also at a coupon rate of 7%. Both bonds have terms of 30 years and face values of ,000. The interest rate on these today is at 10%.