rate positively ..
we have to use financial calculator to solve this | |||
put in calculator | |||
FV | 0 | ||
PMT | -2400 | ||
I | 3.85%/12 | 0.32083% | |
N | 20*12 | 240 | |
compute PV | $401,266.95 | ||
ans = | $401,267 |
You and your spouse want to buy a house. You feel that you can make monthly...
You and your spouse want to buy a house. You feel that you can make monthly payments of $2,100. The bank is offering a loan rate of 4.65% for monthly payments over 30 years. Estimate what you can afford to spend on a home. [Present the answer rounded to no decimal places. For instance 259462]
2. You want to buy a house. You can make an initial payment of $200,000 and can afford monthly payment of $1,800. If the APR of the mortgage loan is 4.8% and you finance the purchase over 30 years (360 months), what is the maximum price you can pay for the house?
You want to borrow $90,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,700, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) interest rate %
You want to borrow $86,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,500, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 72-month APR loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate 7.81+4%) %
You want to borrow £98,000 from your local bank to buy a new yacht. You can afford to make monthly payments of £2,000, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month loan?
I just need to check my answers: 17: You want to buy a house in 5 years and expect to need $35000 for a down payment. If you have $11000 to invest, how much interest do you have to earn (compounded annually) to reach your goal? (Enter your answers as a decimal rounded to 4 decimal places, not a percentage. For example, enter 0.0843 instead of 8.43%) 18: You decide that the loan in question 2 is too large for...
You want to borrow $69,000 from your local bank to buy a new car. You can afford to make monthly payments of $1,200, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 78 month APR loan? Please show all work and calculations.
You want to borrow $100,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,750, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 72-month APR loan? Please show steps for full credit
You are trying to buy a house. Your net monthly income is $2,634.37. The bank will not approve your mortgage loan if your monthly payment is greater than 28% of your gross monthly income. a.)find the maximum amount you can pay each month for your mortgage. b.) give a calculation to show that you can afford your mortgage.
you want to buy a house that costs $225,000. you will make a down payment equal to 20 percent of the price of the house and finance the remainder with a loan that has an apr of 5.25 percent compounded monthly. If the loan is for 30 years, what are your monthly mortgage payments?