15. Keith ignores the total cost of the $600,000 house and argues that they can afford the payments so they should buy it. Sarah suggests that they purchase ello the $350,000 house and invest the difference in monthly payments between the two houses at 7% compounded monthly for 30 years. How much would this investment amount to (round to nearest dollar)?
15. Keith ignores the total cost of the $600,000 house and argues that they can afford the payments so they should buy it. Sarah suggests that they purchase ello the $350,000 house and invest the difference in monthly payments between the two houses at 7% compounded monthly for 30 years. How much would this investment amount to (round to nearest dollar)?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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I'm really confused with the question number 15 please help me.
Transcribed Image Text:(bio teonen on
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Saran and Keith are purchasing a house together. Keith would like to purchase
ahouse for $600,000. Sara is a bit more conservative and would like to
purchase a house for $350.000, In both situations they can put $70,000 dov
Peir down payment on each house. They can obtain a 30-year mortgage at
4.5% compounded monthly.
1ed lliw isdW
12. Calculate the amount to be borrowed for each house. 16llob 1200em
3.
13. Calculate the payments for each house (round to nearest penny).wolf
14. Calculate the total cost of each house (excluding closing costs, property taxes,
maintenance, etc.) (round to nearest dollar).
15. Keith ignores the total cost of the $600,000 house and argues that they can
afford the payments so they should buy it. Sarah suggests that they purchase
ilo the $350,000 house and invest the difference in monthly payments between
the two houses at 7% compounded monthly for 30 years. How much would
eg this investment amount to (round to nearest dollar)?
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