Emma Grant bought a home for $250,000 with a down payment of $25,000 at 6% interest for 30 years. Since then, the rate has risen to 8%. How much more would her monthly payment be if she bought the house at 8%?
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- Emma bought a $360,000.00 house, paying 10% down, and financing the rest at 2% interest for 20 years. A. What is the monthly payment? Emma has a payment of __?__a month. How much interest will be paid over the life of the loan? Emma will pay __?__ in interest over the life of the loan.Need helpKaty has decided she wants to put money aside for a $8000 downpayment on a house. She figures she will be ready to buy in 10 years. How much does she need to deposit today into an account that earns 6.75% interest compounded monthly for her to reach her goal?
- A couple purchased their home for $280,000. They signed a 30 year mortgage at 5.28% interest compounded monthly. What is the monthly payment and the total amount of interest paid on this loan? If the couple puts 20% down towards the purchase of the house listed above, what is the new monthly payment and the total amount of interest paid on this new loan? How much money is saved per month and how much interest is saved?The Fergusons want to purchase their first home and need $14,300 for a down payment. They can save $1,025 per quarter. If they deposit this amount in an account paying 3% interest compounded quarterly, how long will it be before they can purchase a home? (Solution should be entered in years accurate to the hundredths decimal place)Margaret Foster wants to buy a new camper in 6 years. She estimates the camper will cost $6,400. Assume Margaret invests $3,800 now at 8% interest compounded semiannually. Will Margaret have enough to buy her camper at the end of 6 years? Calculate the amount she is short or over what is needed.
- Beatrice takes out a 7 year loan of $5000. The interest rate is 4.5%. What are Beatrice's monthly payments? Suppose after 5 years Beatrice decides to pay off the remaining balance of the loan. What is the payoff amount?You purchase a home for $350 000. At the time of purchase you make a downpayment of $75 000. The remaining balance of the mortgage is financed at a interest rate of 4.30% compounded semi-annually, over 25 years. a) How much is your monthly mortgage payment? b) The house appreciates in value at an average rate of 2.00% per year. What will be the value of her house after 15 years? c) How much equity will you have in the house after 15 years?Joe Levi bought a home in Arlington Texas for $150,000. He put down 20% and obtained a mortgage for 15 years at 5 1/2% interest. 1) What is Joe's monthly payment? 2) What is the TOTAL cost of interest for this loan? 3) If the interest rate increases to 6 1/2%, what is the difference in the TOTAL interest costs over the life of this loan?
- Dottie wants to buy a 150,000 house and puts a down payment of 60,000. He makes monthly payments for 30 years with a 3.2% rate monthly with 2 points. If the loan is paid off after 12 years, what is the true rate?Susanna wants to purchase a house costing $201,277. She plans to put $44,946 toward a down payment and finance the rest at 2.9% payable monthly for 30 years. What will her monthly payments be? (round to the nearest penny)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.
