Beverly Frost bought a home for $190,000 with a down payment of $19,000 at 7% for 25 years. Since then the rate has risen to 9%. How much more would her monthly payment be if she bought the house at 9%?
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- Give true answer the questionBeverly Frost bought a home for $190,000 with a down payment of $19,000 at 7% for 25 years. Since then the rate has risen to 9%. How much more would her monthly payment be if she bought the house at 9%? Multiple Choice $208.97 $436.40 $143.00 $226.44Jenelle bought a home for $370,000, paying 18% as a down payment, and financing the rest at 4.6% interest for 30 years. Round your answers to the nearest cent. How much money did Jenelle pay as a down payment? $ What was the original amount financed? $ What is her monthly payment? $ If Jenelle makes these payments every month for thirty years, determine the total amount of money she will spend on this home. Include the down payment in your answer. $
- Lizzy Clar bought a home for $160,000, putting down $30,000. The rate of interest is 7% for 25 years. What is the total of her monthly payments for one year? Multiple Choice $11,025.72 $11,029.20 $919.10Fatimah pays monthly rent of $520 for her townhouse. If she bought the property, the mortgage loan, property tax, and utilities would cost her $920 per month. Using the current mortgage loan rate of 6.6% compounded semi-annually, calculate how much money Fatima could accumulate over 10 years if she continues to rent and invests the $400 per month difference. $77,085 $47,845 $67,768 $56,29988) Kathy is buying her first home. She is financing a total of $185,000 at an APR of 5% for 25 years. How much are her monthly payments? A) $952.33 B) $1,081.49 C) $1,441.23 D) $1,664.85 89) Juanita has determined that the PITI on the house she would like to purchase will be $1,260 per month. What is the minimum gross salary she will need to qualify for a mortgage from a reputable lender? A) $6,300 per month B) $4,500 per month C) $3,500 per month D) $5,040 per month 90) Tran currently makes $4,500 per month in gross income. He has a student loan payment of $250 per month and a car loan of $450 per month. His credit card payments average $300 per month. What is the largest PITI he could qualify for with a reputable lender? A) $620 B) $900 C) $1,260 D) $1,620 91) Bob and Mary Kay have gross household income of $7,000 per month. They both have great credit scores and the home they are interested in buying appraised higher than the selling price.…
- Loretta Scholten bought a home for $210,000 with a down payment of $30,000. Her rate of interest is 6% for 35 years. Calculate Loretta’s monthly mortgage payment. (Round your answer to the nearest cent.)Judy recently purchased her first home for $220,000. She made a down payment of $20,000, and financed the balance over 15 years, at 6% interest. If Judy's first payment is due on October 1 of this year, approximately how much interest will she pay inthis year? $2,073.47. $1,979.76 $3,288.63. $5,885.09.Shelley purchased a home in Maryland Heights, MO, for $204,000. Her down payment was 20% of the cash price, and she obtained a mortgage for 20 years at 7%. What are Shelley's monthly payment and total interest cost? (Round your answers to the nearest cent.) a)Monthly payment b) Total interest cost
- Skylar bought a $270,000.00 house, paying 10% down, and financing the rest at 3% interest for 15 years. A. What is the monthly payment? Skylar has a payment of a month $________. B. How much interest will be paid over the life of the loan? Skylar will pay $_______ in interest over the life of the loan.11) Max purchases a lot for $300,000. Max will pay $25,000 dollars at the end of each year. the interest rate is 4% compounded annually, how many full payments must be made? a) what will be the size of the payment one year after the last full payment?A couple buys a $190000 home, making a down payment of 23%. The couple finances the purchase with a 15 year mortgage at an annual rate of 3.74%. Find the monthly payment. If the couple decides to increase the monthly payment to $1100, find the number of payments.
