Sarah is buying a house worth $300,000 and plans to make a down payment of 20%. She gets a 30-year fixed mortgage at an annual interest rate of 4.5%. Calculate her monthly mortgage payment (rounded to nearest dollar).
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Sarah is buying a house worth $300,000 and plans to make a down payment of 20%. She gets a 30-year fixed mortgage at an annual interest rate of 4.5%. Calculate her monthly mortgage payment (rounded to nearest dollar).
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- Donna wants to buy a house for $900,000.00. She makes a 15% down payment and borrows the rest by getting a 30-year mortgage. Her monthly mortgage payment is $3,803.75. What is the principal of her mortgage? What is the total she will pay on the loan?Angelina is buying a home for $417,000. She has a $26,000 down payment and the bank has offered her a 30-year fixed rate mortgage at 5.83%. What will be Angelina's monthly mortgage payment? Round your answer to two decimal places.Ms. Anderson plans to purchase a home for $300,000. She intends to pay 20% of the purchase price as down payment, and finance the remainder over 20 years at 4.75% interest. a) What will be her monthly payment (principal and interest)? b) Calculate the total amount of interest paid over the term of the mortgage. c) How much interest is paid in the first month?
- Gabby is planning to buy a home. She has some money for a down payment already saved. She sees a home she would like and calculates that she would need to borrow $210,000 from a bank for a 30-year period. The APR is 7.2%. What will be her total interest for the 30 years? How much total interest will Gabby pay with a 15 year mortgage? Step 1) What is the monthly payment? Step 2) What are the total payments ($) for the entirety of the loan? Step 3) What is the total interest?Megan takes out a car loan for $13,000. She intends to make monthly payments for 5 years to pay off her loan. If the bank charges her an annual interest rate of 4.2% computed monthly on the loan balance, how much will her monthly payments be?Maria takes out a 30-year mortgage for $154,886 at an annual interest rate of 5.7%. How much does she still owe when there is 1 year left on the loan? Round your answer to the nearest dollar.
- Ms. Tweeter is buying a house with a cost of $350,000. She will make a down payment of $20,000 on the house, and the rest will be paid for with a mortgage loan. Her mortgage loan has an APR of 4.9% compounded semi-annually, with a weekly payment schedule and a time horizon of 20 years. The first payment is due in one week's time. What is the remaining balance on her mortgage at the end of the first year? Multiple Choice $294,232.50 $319,977.71 $339,370.30 $320,040.61 $319,914.01 Show all the calculation steps and formulas if necessaryJessica purchases a house for $350,000 and takes a mortgage for the full amount. Her mortgage charges 5% per year and interest is compounded monthly. She will repay the loan over 25 years with equal monthly payments. a) What is her monthly payment amount? b) How much of the 8th payment would be applied toward interest? c) How much of the 8th payment would be applied toward principal?Patty purchases a $240,000 house. She pays $40,000 down and takes out a 25 year mortgage with monthly payments, at an interest rate of 12% interest compounded monthly. How much money will Patty have to pay each month?
- Ann wants to buy an office building which costs $2,000,000. She obtains a 30 year Interest Only fixed rate mortgage with 80% LTV, an annual interest rate of 5%, with monthly compounding and monthly payments. How much is Ann’s monthly payment?Janet is purchasing a new house for $315,000. Her credit union requiresher to make a 20% down payment, and the current mortgage rate it 6%.Janet is exploring different 10-year mortgage payment options. Use theprincipal and interest formula to determine Janet’s principal and interestpayment if she makes he payments monthy.Anna plans to buy an apartment for $152844. she wants to make a down payment of $23646 and to take out a 27yr mortgage for the remaining amount. if money is compounded monthly at 6.67% how much must she pay each month?