Homework Answers
Amount is in $ Dollar
a) Mortage Amount = 128000; Term = 20 years;
Interest rate = 6% ; Tax = 110 ; Insurance = 75
Answer is 932.45
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23 000 13.43 3301.50 Determine the finance charge. IQD Dicermine Mibe's manthly payment oc30 points) You...
if you purchasing a $220,000 and make a 20% down payment, how much would 1 point...
if you purchasing a $220,000 and make a 20% down payment, how much would 1 point cost at closing? a. $440 b. $1,000 C. $1,760 d. $2,000 e $2,200 49. For the 5th year of a 30 year mortgage, the majority of each monthly payment goes to a. Principal b. Interest C. State tax d. Homeowner's insurance e. Private mortgage insurance. The seller of a house typically pays the a. Loan application fee b. Real state agent's commission c. Appraisal...
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Bill and Kim Johnson are purchasing a house for $345,000.Their bank requires them to pay a 20% down payment. The current mortgage rate is 9%, and they are required to pay one point at the time of closing. Determine the total amount Bill and Kim will pay for their house, including principal, interest, down payment, and points (do not include taxes and homeowners' insurance) for the following lengths of their mortgage for the following. a) 10 years b) 20 years...
Now, let's go house shopping. After a down payment of $20,000, you are approved to borrow...
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Compute the monthly payment and the total amount spent for a vehicle that costs $15,500 if you fi...
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2. Matthew just purchased a house for $250 000. His down payment is $70 000 and...
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Please try not to answer if you are not going to answer both so that I can give my rating to some...
Please try not to answer if you are not going to answer
both so that I can give my rating to someone else! Thank
you!!!
Suppose you take a 15-year mortgage for a house that costs $296912. Assume the following: The annual interest rate on the mortgage is 4.5%. . The bank requires a minimum down payment of 8% of the cost of the house. . The annual property tax is 1.1% of the cost of the house. The annual...
Suppose you take out a 30-year mortgage for a house that costs $292710. Assume the following:...
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Suppose you take out a 20-year mortgage for a house that costs $472858. Assume the following:...
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Suppose you take out a 20-year mortgage for a house that costs $465,110. Assume the following:...
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if you purchasing a $220,000 and make a 20% down payment, how much would 1 point cost at closing? a. $440 b. $1,000 C. $1,760 d. $2,000 e $2,200 49. For the 5th year of a 30 year mortgage, the majority of each monthly payment goes to a. Principal b. Interest C. State tax d. Homeowner's insurance e. Private mortgage insurance. The seller of a house typically pays the a. Loan application fee b. Real state agent's commission c. Appraisal...
Now, let's go house shopping. After a down payment of $20,000, you are approved to borrow $160,000 to purchase a home at an annual interest rate of 5%. 12) [3] Use the chart in the book (chapter 12) to determine your monthly payment for a 30-year mortgage. 13) [5] Find your (annual) property taxes if the assessment rate in the township is 50% and the tax rate based on assessed value is 30 mils. (Note: The value of the home...
Compute the monthly payment and the total amount spent for a vehicle that costs $15,500 if you finance the entire purchase over 5 years at an annual rate of 8.50 percent. Calculate the payment if you finance the car for only four years. Finally, calculate the payment for three years. What do you notice about the payment under the different time assumptions? Click on the table icon to view the MILPF table EEB The monthly payment, PMT, on the 5-year...
2. Matthew just purchased a house for $250 000. His down payment is $70 000 and the remaining amount will be financed using a 20-year mortgage. The interest rate on this mortgage is 5.6% compounded semi-annually, Matthew will make monthly mortgage payments. How much will the monthly payments be? (6 mark)
Please try not to answer if you are not going to answer
both so that I can give my rating to someone else! Thank
you!!!
Suppose you take a 15-year mortgage for a house that costs $296912. Assume the following: The annual interest rate on the mortgage is 4.5%. . The bank requires a minimum down payment of 8% of the cost of the house. . The annual property tax is 1.1% of the cost of the house. The annual...
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...
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