**Question 1: House Purchase**- **House Price:** $364,000.00- **Closing cost:** $9,500.00 1. You want to buy a house. Check your dataset for the home price and other details. Use them to answer the questions below.(a) You want to have a 20% down-payment on the house. How much cash does this require?(b) After the down payment is made, find how much money you need a loan for in order to buy this house. What is the amount you will need to borrow from the bank?(c) Check your dataset for the closing costs for the house that you are buying. These are the additional fees that you need to pay when you buy a home. How much total cash do you really need to buy this house? Use your information from Question 1a.

Here we find down-payment, loan amount and cash that we really need ,

Answered: 1. You want to buy a house. Check your…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Similar questions

You have agreed to loan some money to a friend at a simple interest rate of 190% which is outrageous but still about half of the payday loan places! To make it easy on your friend who never took Math 140 you tell him you'll give him some money now and he just needs to pay you back a nice even $700 in 2 weeks. How much money do you hand him? (nearest $1)
Over the previous period, your company had accounts receivable of $95,800 and credit sales of $573,229.51. Calculate the average collection period (in days). (Round to the nearest day.) ___________days
Suppose that you borrow $30,000 for four years at 8% for the purchase of a car. Find the monthly payments and the total interest for the loan. Round answers to the nearest dollar. 1. Monthly payments. 2. The total interest for the loan.
Suppose you want to save in order to purchase a new boat. Take the APR to be 9.2%.You want to have $13,000 toward the purchase of a boat in three years. How much do you need to deposit each month?
Consider a student loan of $20,000 at a fixed APR of 12% for 20 years. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is paid toward the principal and what percentage is paid for interest. Chapter Contents a. The monthly payment is $. (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total payment over the term of the loan is $ (Round to the nearest cent as needed.) c. Of the total payment over the term of the loan,% is paid toward the principal and % is paid toward interest. (Round to the nearest tenth as needed.)
Angela Montery has a five year car loan for a jeep wrangler at an annual interest rate of 6.9% and a monthly payment of $599.50. after three years Angela decides to purchase a new car. what is the payoff on Angela's loan? (round your answer to two decimal places)
You are thinking about buying a house. You find one you like that costs $150,000. You learn that your bank will give you a mortgage for $120,000 and that you would have to use all of your savings to make the down payment of $30,000. You calculate that the mortgage payments, property taxes, insurance, maintenance, and utilities would total $ 720 per month. Which of the following is true regarding your calculation of the cost of owning the house? OA. It should not include maintenance, since homeowners often use their own time to fix things around the house instead of calling a professional. B. It should not include property taxes, since that is money that goes directly to the government and is no longer in the market. *C. It should include your monthly income, since you must know the source of the money when trying to calculate costs. D. It should include the opportunity cost of the money used to make the down payment. This money could be earning interest in a bank Given the information…
I need help setting it up
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James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the hazard insurance premium is $764.50 per year. Find the monthly PITI payment (in $). (Round your answer to the nearest cent. Use this table as needed.)
2. Simone bought her house for $150,000 in 2000 and sold it for $725,000 in 2020. What are the total and annual returns on this investment?
****** Jo borrowed $4,750 for 4 months from a bank. The bank discounted the loan at 3.5%. a. How much interest did Jo pay the bank for the use of its money? b. How much did he receive from the bank? c. What was the actual rate of interest he paid? a. The interest is $ (Round to the nearest cent as needed.) T N

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