Roberto bought a $290,000 house, paying 14% down, and financing the rest at 4.2% interest for 30 years. Her monthly payments are $1219.61. How much will he really pay for her $290,000 house?

Q: Twelve years ago, Pat and Mike took out a $115,000 loan for 30 years at 9.3% interest. Their monthly…

A: A loan is a financial arrangement in which one or more people, companies, or other entities lend…

Q: is expected to be received in 5 years and her last annual payment is expected in 10 years. She can…

A: Annual payment=$49900Interest rate=12.84%Period= 5 years

Q: Roberto bought a $280,000 house, paying 20% down, and financing the rest at 5.2% interest for 30…

A: Mortgage loans are paid by monthly payments that carry the payment for interest and payment for…

Q: Pat and Joe are divorced. The divorce settlement stipulated that Joe pay $525 a month for their…

A: A person may put aside a specified amount and also make periodic deposits to achieve their financial…

Q: George buys a car every 6 years for ₱18,000. He trades in his current car to count as the 20%…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: June Watson is contributing $2500 each year to a Roth IRA. The IRA earns 4.2% per year. How much…

A: To calculate the future value of June's Roth IRA after 40 years, we can use the formula for compound…

Q: Alan loans $3750 to Betty at a 6.2% simple interest rate. Betty agrees to repay the loan after 13…

A: Simple rate of interest is calculated by multiplying the rate with principal and adjusting the same…

Q: Sara purchased a three-bedroom, two-storey house for $209 000 with a 10% down payment. The mortgage…

A: The down payment refers to the money paid by the customer in the early stage of purchasing the…

Q: Beth buys a home for $314,561 and puts 20% down.  How much is the monthly payment on her thirty-year…

A: Loan amortization refers to the systematic repayment of principal and interest amount spread over…

Q: Ana Maria's family would need $33,500 for annual living expenses if she should pass away. Her…

A: Given: Annual living expense = $35500 Earnings of husband = $15100 Additional yearly income = $12000…

Q: Peter was receiving rental payments of $2,000 at the end of each month from his tenants of his…

A: A perpetuity is like an annuity in which cash flows are streamed for an indefinite period of time.…

Q: Bill and Cathy will be retiring in fifteen years and would like to buy an Italian villa. The villa…

A: Time value of money states that a dollar is worth more today than sometimes later. This is because…

Q: Felice bought a duplex apartment at a cost of $210,000. Her mortgage payments on the property are…

A: Monthly rent refers to an amount that is paid every month by the tenant to the owner in return for…

Q: Tara has just bought a house for $930,000 with a 30% down payment and a 70% mortgage loan for 20…

A: Given: Cost of house = $930,000 Down payment = 30% Interest rate = 2.19% Years = 20

Q: Jen Logan bought a home in Iowa for $110,000. She put down 20% and obtained a mortgage for 30 years…

A: Here, Particulars Values Price of a house   $ 110,000.00 Down payment (20%*$110,000)  $…

Q: a is Leon and Heidi decided to invest $2,750 annually for oply the first nine years of their…

A: Future Value Future value refers to the value of the investment at a certain point in time in future…

Q: 88) Kathy is buying her first home.  She is financing a total of $185,000 at an APR of 5% for 25…

A: "Since you have asked multiple questions, the first question was answered for you. If you want the…

Q: Judy recently purchased her first home for $220,000. She made a down payment of $20,000, and…

A: First we need to calculate PV annuity factor for loan to calculate monthly payment. Since payment is…

Q: Paul and Stephanie Rewell plan to buy a $750,000 home, paying 20% down and financing the balance at…

A: Solution:-When an amount is borrowed, it can either be repaid as a lump sum payment or in…

Q: Val bought a car for $48,000, putting down $15,000 cash and financing the remainder. How much are…

A: We need to use loan amortization formula below to calculate annual payment.  where P=Loann=number of…

Q: Leon wants to save a classic car so he deposits $1500 at the end of the years into a savings account…

A: We need to use future value of ordinary annuity formula to calculate worth of deposit after 5 years.…

Q: Layla has inherited $20000 from her grandmother.she plans to use 25% of it to put a down payment on…

A: The future value is the future worth of the amount that will be paid or received in the future.

Q: Rex is planning to buy a house. His gross income is $72000 and his net income is $60000. He saved…

A: a) Gross Debt Service Ratio (GDSR) = (mortgage payment + property taxes + heating costs)/ gross…

Q: Christina is planning on buying an insurance policy that will pay for $157,250 a year for 25-years,…

A: The time value of money is a concept in finance that takes into account the effect of compounding in…

Q: Jillian invested $2,000 six years ago at 4.5 percent interest. She spends all of her interest…

A: Data given: Amount invested=$2000 Interest rate=4.5% Jillian spends all of her interest earnings…

Q: Jenny and Leo plan to purchase a new house and the couple is able to obtain a 25-year 3.6% (per…

A: The concept of time value of money will be applied here.   The cost of the house will be the sum of…

Q: Jasmine purchased a home in San Francisco near her best friend Sallie. The purchase price of the…

A: Let's plug in the numbers and calculate: 1. Convert the annual interest rate to a monthly rate:…

Q: The Alfords purchase a home in 2010 for $150,000. They had no down payment. If they chose the loan…

A: A mortgage refers to a covered loan that is borrowed for purchasing a property with the property…

Q: Stephen plans to purchase a car 4 years from now. The car will cost $35,175 at that time. Assume…

A: The present value concept of the money time value states that the value at two different times is…

Q: Anthony planned to buy a house but could afford to pay only $9,000 at the end of every 6 months for…

A: Here,Down Payment $   30,000.00Semi Annual Payment $     9,000.00Interest Rate5.70%Time Period in…

Q: Abner and Maude are both in their eighties. They're thinking of selling their house for $500,000 and…

A: The PV of an investment refers to the combined value of the cash flows of the investment discounted…

Q: Mrs. Jones decides to buy a house.  She pays $40,000 down and pays $1500 per month for 30 years at…

A: The question is based on the concept of present value calculation of loan repayment in equated…

Q: Frankie purchased a house for $185,000 . He put 20% of the purchase down as a down payment. He…

A: Frist we need to calculate monthly payment for loan by using this equation PMT   =PV*i1-1(1+i)n…