a. You purchased a house for $200,000, cash and you sold it in one year for...
a. You purchased a house for $200,000, cash and you sold it in one year for $220,000. You had to pay $8,000 in taxes and repairs before you sold it. What is your ROI?
b. If you financed $170,000 with a bank, made a down payment of $30,000, and paid $5,000 for taxes, repairs, and interest, what would be your ROI?
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a. You purchased a house for $200,000, cash and
you sold it in one year for...
You are thinking of purchasing a house. The house costs $ 200 comma 000$200,000. You have...
You are thinking of purchasing a house. The house costs $ 200 comma 000$200,000. You have $ 29 comma 000$29,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 3030-year mortgage that requires annual payments and has an interest rate of 6 %6% per year. What will be your annual payment if you sign this mortgage?
Betty purchased a house for a cost of $200,000 she borrowed $180,000 and made a down...
Betty purchased a house for a cost of $200,000 she borrowed $180,000 and made a down payment of $20,000 What is betty's equity position on the house
How much will be your payment if you were planning to buy a house for $175,000...
How much will be your payment if you were planning to buy a house for $175,000 with 10% down if a bank was willing to give you a 30-year loan at 4.5% interest per year compounded monthly? Payments are to be made at the end of each month. $589 $645 $798 $867 16.67 points QUESTION 2 Say you bought a house for $195,000 with 10% down, and financed it from a bank for a 30-year term at 5.00% interest...
You plan to purchase a $200,000 house using either a 30-year mortgage obtained from your local...
You plan to purchase a $200,000 house using either a 30-year mortgage obtained from your local savings bank with a rate of 7.25 percent, or a 15-year mortgage with a rate of 6.50 percent. You will make a down payment of 20 percent of the purchase price. (LG 7-3) a. Calculate the amount of interest and, separately, principal paid on each mortgage. What is the difference in interest paid? b. Calculate your monthly payments on the two mortgages. What is...
Q3: Mike decide to take the mortgage loan to buy a house with total price of...
Q3: Mike decide to take the mortgage loan to buy a house with total price of $200,000.He made 50,000 for down payment. He decided to pay back the money every quarter in the equal amount. What should be his equal quarterly payment be over the next 20 years if the annual interest rate is 7%? Q4: You want to buy a car, and a bank will lend you $30,000. The loan would be fully amortized over 3 years (36 months),...
Suppose the house costs $200,000. You need to borrow $180,000 from the bank that you will...
Suppose the house costs $200,000. You need to borrow $180,000 from the bank that you will pay over 30 years. Assume the bank charges 3% APR on your mortgage and payments are made at the end of each month. Calculate your monthly mortgage payment. Briefly show your calculations.
When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate...
When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 5 % per year. The annual payment on the mortgage is $ 17 comma 573. You have just made a payment and have now decided to pay the mortgage off by repaying the outstanding balance. a. What is the payoff amount if you have lived in the house for 18 years (so there are 12 years left on the mortgage)? b. What is...
The Turners have purchased a house for $130,000. They made an initial down payment of $30,000...
The Turners have purchased a house for $130,000. They made an initial down payment of $30,000 and secured a mortgage with interest charged at the rate of 10%/year compounded monthly on the unpaid balance. The loan is to be amortized over 30 yr. (Round your answers to the nearest cent.) (a) What monthly payment will the Turners be required to make? $ (b) How much total interest will they pay on the loan? $ (c) What will be their equity...
Xian and Devi are each buying a house for $500,000. Xian puts $200,000 down and gets...
Xian and Devi are each buying a house for $500,000. Xian puts $200,000 down and gets a mortgage for the other $300,000 at a 6% annual effective rate. Devi puts $100,00 down and gets a mortgage for the other $400,000 at the same annual rate. Both mortgages are interest only (i.e they pay 5% interest at the end of each year but do not repay any of the principal.) a) How much leverage does Xian have? How much leverage...
97 down and financed the holy 1. you purchased furniture payments on December Fluff Business, 2021,...
97 down and financed the holy 1. you purchased furniture payments on December Fluff Business, 2021, Year 3', you paid the amounts owed for Fluffs at the end of year 2020 and collected all of the amounts owed by customers at the end of last year. You purchased eleven more Fluffs for $4,000 each and at the same terms as last year. During the year you sold 11 Fluffs for $8,000 each at the same terms as last year. On...
97 down and financed the holy 1. you purchased furniture payments on December Fluff Business, 2021, Year 3', you paid the amounts owed for Fluffs at the end of year 2020 and collected all of the amounts owed by customers at the end of last year. You purchased eleven more Fluffs for $4,000 each and at the same terms as last year. During the year you sold 11 Fluffs for $8,000 each at the same terms as last year. On...
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