Suppose that upon graduation you decide to buy a house in Riverside. You have $5,000 of cash saving that you can put for down payment. Let’s ignore other fees and taxes. The fixed annual interest rate that is available for your 30 years mortgage loan is 4.0%. Given your spending patterns, you are willing to pay up to $1,500 per month during the mortgage loan period. What would be the maximum price of house that you may look for? Show your calculation steps assuming that your mortgage payments start right away.
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Suppose that upon graduation you decide to buy a house in Riverside. You have $5,000 of cash saving that you can put for down payment. Let’s ignore other fees and taxes. The fixed annual interest rate that is available for your 30 years mortgage loan is 4.0%. Given your spending patterns, you are willing to pay up to $1,500 per month during the mortgage loan period. What would be the maximum price of house that you may look for? Show your calculation steps assuming that your mortgage payments start right away.
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