Shellie has a mortgage of $56,500 at 5% for 25 years. The property taxes are $350 quarterly, and the hazard insurance premium is $239.50 semiannually. Find the monthly taxes and insurance payment. Select one: Ⓒa. $358.75 b. $290.79 Ⓒc. $422.87 d. $156.58

Q: You obtain a $265,000, 15-year fixed-rate mortgage. The annual interest rate is 6.25 percent. In…

A: Using excel PMT function

Q: Delilah is paying $0.40 per $100 on her $210,000 home in homeowners' insurance annually. If her…

A: A mortgage is a type of loan that is taken for the purchase of a home or any other real estate…

Q: Nate bought a home for $143,000 with a down payment of $15,000. Nate's rate of interest is 6.75% for…

A: When we buy a large ticket item like a home we usually take loan for that. The loan is repaid…

Q: ames has a mortgage of $88,500 at 4% for 15 years. The property taxes are $3,700 per year, and the…

A: The PITI payment includes payments for mortgage, insurance and taxes towards the mortgage.

Q: Jada and Izaak borrowed $40,000 at 5.53% compounded quarterly as a second mortgage loan against…

A: A loan refers to a contract between a lender and a borrower where a sum is exchanged on the promise…

Q: James has a mortgage of $98,500 at 4% for 20 years. The property taxes are $3,700 per year, and the…

A: PITI payment : It refers to mortgage payment made by an individual and such payment includes loan…

Q: Susan has a 25-year home mortgage of $211,340 at 4.75% interest and will pay $1,874 annual insurance…

A: monthly PITI payment consists of monthly mortgage,insurance and Tax.

Q: Jason received a 30 year loan of $290,000 to purchase a house. The interest rate on the loan was…

A: The amount of loan is $290,000 The interest rate is 2.80% Compounded semi-annually The time period…

Q: Dan buys a property for $280,000. He is offered a 25-year loan by the bank, at an interest rate of…

A: Loan amortization is the systematic process of gradually reducing the outstanding balance on a loan…

Q: nna is buying a house selling for ​$235,000. To obtain the​ mortgage, Anna is required to make a…

A: The monthly payment is the amount that has to pay each and every month until the loan matures or…

Q: Jillian and Collin borrowed $62,000 at 7.61% compounded monthly as a second mortgage loan against…

A: A mortgage is a covered loan taken to purchase a property with the property itself acting as…

Q: k borrows $318,449.00 to buy a house. He has a 30-yearmonthly payment mortgage with a rate of 5.70%…

A: Mortgage loans are secured loans and the home is collateral and being paid by the monthly payments…

Q: Jasmin has a mortgage of $296,000 through her bank for property purchased. The loan is repaid by end…

A: Mortgage Amount = $296,000Interest rate = 6.36%Period = 16 Years

Q: Tanyarita has a mortgage of $67,500 at 8.5% for 20 years. The property taxes are $2,900…

A: The monthly payment for property tax  = Total due / 6 months   Monthly insurance premium = Total…

Q: Dames has a mortgage of $88,500 at 4% for 20 years. The property taxes are $3,900 per year, and the…

A: Total monthly payment :— It is the sum of monthly mortgage payment and other monthly expenses.…

Q: Jasmin has a mortgage of $296,000 through her bank for property purchased. The loan is repaid by end…

A: An interest charge is the cost of obtaining or extending credit. The cost of managing the loan, as…

Q: Jill Diamond bought a home for $190,000 with a down payment of $65,000. The rate of interest was 7%…

A: Homes and other real properties are purchased by the business entities with the help of taking the…

Q: What is the interest paid in the 2nd year of the mortgage?

A: Mortgage refers to a legal contract based upon which a financial institution such as bank grants a…

Q: Find the monthly PITI payment

A: PITI PAYMENT:The whole amount of a mortgage payment, principal, interest, taxes, and insurance, is…

Q: You obtain a $365,000, 15-year fixed-rate mortgage. The annual interest rate is 7.25 percent. In…

A: The objective of the question is to calculate the total monthly payment for a 15-year fixed-rate…

Q: James has a mortgage of $94,500 at 4% for 20 years. The property taxes are $3,900 per year, and the…

A: Given, Mortgage = $ 94500 Rate = 4% Time = 20 years = 240 Months Annual taxes = 3900 Insurance =…

Q: Ben Brown bought a home for $225,000. He put down 20%. The mortgage is at 6 ½% for 30 years. Using…

A: Total Present Value = $225,000 Down payment = 20% EMI = P x r x [(1+r)n / (1+r)n - 1]

Q: iven the following information, Ankit took home loan of $100,000 for 10 years. Interest Rate: 10%,…

A: Loan Installment is that equal amount which is paid by the borrower on monthly basis. Loan…

Q: Find the monthly payment for the loan indicated.  yo purchase a home, a family borrowed $97,000 at…

A: The Present Value of Ordinary Annuity refers to the concept which gives out the discounted or…

Q: Elana and Wiyot borrowed $41,000 at 8.54% compounded monthly as a second mortgage loan against their…

A: Mortgage loans are very common for purchasing the homes and it make the home purchase very easy…

Q: Noor is buying a home with a $200,000 mortgage using a 5.5 percent, 30-year loan. How much of the…

A: Mortgage$200,000Interest rate5.50%Loan period30Payment per 1000$5.6779

Q: Stu Reese has a $150,000 7 ½% mortgage. His monthly payment is $1,010.10. His first payment will…

A: Present Value = $150,000 Annual Interest rate = 7.5% Monthly payment = $1,010.10   Monthly payment…

Q: James has a mortgage of $96,500 at 4% for 15 years. The property taxes are $3,900 per year, and the…

A: PITI implies monthly scheduled installments including taxes. It implies Principal, Interest, Taxes,…

Q: Marsha Terban bought a home for $119,000 with a down payment of $19,000. Her rate of interest is 12…

A: Explanation :

Q: James has a mortgage of $86,500 at 8% for 15 years. The property taxes are $3,900 per year, and the…

A: Solution:- Given, James has a mortgage = $86,500 at 8% for 15 years. The property taxes = $3,900 per…

Q: b. What is the balance of the loan at the end of year Round to the nearest cent c. By how much will…

A: Loans are paid by the monthly payments that carry the payment for interest and payment for principal…

Q: Jack takes out a mortgage for $725,000 at an interest rate of i(2) = 7.250%. The amortization period…

A: Interest rate = 7.250% compounded semi annually The effective annual return is  EAR=(1+APRn)n-1…