You bought a house for $270,000, paying $50,000 down and taking out a loan for the...
You bought a house for $270,000, paying $50,000 down and taking out a loan for the balance, at a fixed 3.5% annual rate for 30 years. What will be your monthly mortgage payment (to the nearest dollar)? A) $735 B) $898 C) $988 D) $1,176
Homework Answers
Add Answer to:
You bought a house for $270,000, paying $50,000 down and taking
out a loan for the...
Suppose that you bought a house worth $400,000 by putting a down payment of $50.000 and by taking...
Suppose that you bought a house worth $400,000 by putting a down payment of $50.000 and by taking out a loan for the rest at an interest rate of 42% compounded montly, payable with monthly payments for 30 years. Assume the payments are due at the end of each month. a. Find your monthly payments b. Suppose that 10 years later the house was worth $460,000. How much do you still owe on the house at that point. c. And...
You are buying a house that costs $440000 and plan on taking out a 30-year fixed...
You are buying a house that costs $440000 and plan on taking out a 30-year fixed rate mortgage at an annual interest rate of 2.4%. 1)You make a 15% down payment of 66000, and take out a loan for the remaining $374000. How much would your mortgage payments be? (Ignore taxes, fees, and other charges, and round to the nearest penny.) . 2)You make this mortgage payment at the end of the first month. Your mortgage payment at the end of...
You bought a house for $600,000 by making a down payment of $100,000 and borrowing the...
You bought a house for $600,000 by making a down payment of $100,000 and borrowing the remaining balance. The mortgage rate is 6.0% and the loan period is 30 years. Payments are monthly and occur at the end of the month. If you pay for the house according to the loan agreement, how much total interest will you pay?
Imagine you have $50,000 for a house down payment for a $250,000 home. Now, go through...
Imagine you have $50,000 for a house down payment for a $250,000 home. Now, go through the process of estimating the monthly payments on a 30-year, fixed-rate mortgage of $200,000 assuming your mortgage carries a 5% interest rate. (Since we emphasized annual rather than monthly payments in this class, imagine you were paying your mortgage once a year and then divide by 12 months.) If you pay off the mortgage after thirty years, how much will you have paid in...
You are buying a home and have saved $45,000 for a down payment. The house costs...
You are buying a home and have saved $45,000 for a down payment. The house costs $360,000. You are given a choice by the mortgage banker. You can use your entire $45,000 for the down payment, and borrow $315,000 at a 4.2% annual rate with monthly payments of about $1540 per month for 30 years (360 monthly payments). Or you can buy down the interest rate by paying an upfront fee to the lender of $8,000. This will reduce the...
Suppose you take out a 30-year mortgage for a house that costs $292710. Assume the following:...
Suppose you take out a 30-year mortgage for a house that costs $292710. Assume the following: The annual interest rate on the mortgage is 3.2%. . The bank requires a minimum down payment of 10% at the time of the loan The annual property tax is 2.2% of the cost of the house. The annual homeowner's insurance is 1.1% of the cost of the house. There is no PMI · If you make the minimum down payment, what will your...
1.You purchase a $255,000 house, pay 20% down and get a loan for $204,000. The loan is a 30-year fixed-rate mortgag...
1.You purchase a $255,000 house, pay 20% down and get a loan for $204,000. The loan is a 30-year fixed-rate mortgage where the annual interest rate is 5.85% and there will be 360 monthly payments. What is the monthly payment?
Say that you purchase a house for $248,000 by getting a mortgage for $220,000 and paying a $28,000 down payment. If you...
Say that you purchase a house for $248,000 by getting a mortgage for $220,000 and paying a $28,000 down payment. If you get a 30-year mortgage with an interest rate of 8 percent, what are the monthly payments? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Find Payment What would the loan balance be in ten years? (Round the payment amount to the nearest cent but do not round any other interim calculations. Round...
Ms. Juliet bought a house for $360,000 exactly five years ago. After making a 20% down-payment,...
Ms. Juliet bought a house for $360,000 exactly five years ago. After making a 20% down-payment, she borrowed the rest of the house payment in the form of a 15-year mortgage from her local cooperative credit union. She negotiated a mortgage rate of 3.5% APR with semi-annual compounding. She makes mortgage payments of an equal dollar amount every two weeks (i.e., biweekly), and her first mortgage payment was due two weeks after she signed the mortgage contract. d. What is...
2. Josie purchased a house for $50,000 three years ago. She is paying for the house...
2. Josie purchased a house for $50,000 three years ago. She is paying for the house over a period of 30 years by making monthly payments. The interest rate is 6% compounded monthly. (a) How much of her 330th loan payment is interest? (9 points)
Suppose that you bought a house worth $400,000 by putting a down payment of $50.000 and by taking out a loan for the rest at an interest rate of 42% compounded montly, payable with monthly payments for 30 years. Assume the payments are due at the end of each month. a. Find your monthly payments b. Suppose that 10 years later the house was worth $460,000. How much do you still owe on the house at that point. c. And...
Suppose you take out a 30-year mortgage for a house that costs $292710. Assume the following: The annual interest rate on the mortgage is 3.2%. . The bank requires a minimum down payment of 10% at the time of the loan The annual property tax is 2.2% of the cost of the house. The annual homeowner's insurance is 1.1% of the cost of the house. There is no PMI · If you make the minimum down payment, what will your...
1.You purchase a $255,000 house, pay 20% down and get a loan for $204,000. The loan is a 30-year fixed-rate mortgage where the annual interest rate is 5.85% and there will be 360 monthly payments. What is the monthly payment?
2. Josie purchased a house for $50,000 three years ago. She is paying for the house over a period of 30 years by making monthly payments. The interest rate is 6% compounded monthly. (a) How much of her 330th loan payment is interest? (9 points)
Most questions answered within 3 hours.
-
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 1 hour ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 3 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 3 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 5 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 6 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 5 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 6 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 6 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 6 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 6 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 7 hours ago -
Lis
out the types and equation of wind profile and the respective
variables in the fds...
asked 7 hours ago