Suppose you want to purchase a house. Your take-home pay is $3650 per month, and you wish to stay 1 within the recommended guidelines for mortgage amounts by only spending of your take-home pay 4 on a house payment. You have $17,300 saved for a down payment and you can get an APR from your bank of 4.95 %, compounded monthly. What is the total cost of a house you could afford with a 15-year mortgage? Round your answer to the nearest cent, if necessary.

Q: You are purchasing a new car for $27,600.  The dealership offers you three options: 0% financing: 0…

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Q: Suppose Lorenzo wants to buy a truck. The dealer offers a financing package consisting of a 6% APR…

A: Suppose Lorenzo wants to buy a truck. The dealer offers a financing package consisting of a 6% APR…

Q: Matthew wants to set up a sinking fund that will be worth $100,000 after 20 years of monthly…

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Q: Suppose you have budgeted $ 1130 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Given that, the monthly payment towards a mortgage is $1130, the number of years is 30 years and the…

Q: Suppose you want to buy a new car that costs $32,600. You have no cash – only your old car, which is…

A: The given data is: The price of the new car is $36,600 The price of the old car is $4000 The…

Q: Suppose you have a $175,000 30-year mortgage with a 4.5% interest rate on the loan. b. How much will…

A: Given that, the loan amount is P=$175,000, interest rate r=4.5%, time n=30 years and due is monthly…

Q: 2. Suppose you buy a house for $320,000. You have $40,000 for a down payment, and finance the rest…

A: After the downpayment, the principal amount is $280,000, and the interest given is 4% per year. Time…

Q: Find the interest paid on a 30-year mortgage of $350,000 at an APR of   6%.

A: Given, interest paid on a 30-year mortgage of $350,000 at an APR of   6%.

Q: Randall is purchasing a home priced at $220,000.  He agrees to 4.75% interest over 20 years, and the…

A: Price=$220,000, let the down payment be x. The principal amount is P=$220,000-x. Monthly payment is…

Q: minimum

A: The mortgage formula is given by: M=P.r1+rn1+rn-1, where it is given that P=$175,000, r=0.04512 and…

Q: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

A: Elon has misplaced the sales contract for his car and cannot remember the amount he originally…

Q: Suppose you have budgeted $ 1025 a month towards a mortgage. If you are offered a 30 year mortgage…

A: Let x be the mortgage amount that offered.

Q: Trevor plans on getting a $166,000 loan for 30 years to purchase a home. Lender A offers him a 5%…

A: The objective of this question is to calculate the difference in monthly payments for a home loan…

Q: You want to buy a $19,000 car. You can make a 10% down payment, and will finance the balance with a…

A: First, we need to calculate the amount that will be financed. This is the total cost of the car…

Q: Suppose you want to purchase a $160,00 house. If you put 20% down and finance the rest in a 20 year…

A: # Given: principal amount P=$16000 With 20% down payment  Interest rate r=0.04125 per year  With 20…

Q: ppose you have budgeted $ 1235 a month towards a mortgage. If you are offered a 30 year mortgage at…

A: Given Monthly payment=$1235 N=30*12=360 R=8.25/12=0.6875%

Q: how expensive of a mortgage can you afford?

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Q: Suppose you obtain a $5000 Treasury Note with a 3% annual rate, paid quarterly, with a maturity in 2…

A: See the attachment

Q: Suppose you want to purchase a $ 165000 house. If you put 20% down and finance the rest in a 25 year…

A: # Given: principal amount p=$165000 20% down payment  25 year mortgage  interest rate r=5.5%  then…

Q: 1. Enrique takes out a student loan to pay for his college tuition this year. Find the interest on…

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Q: For each of the following sequences, if the divergence test applies, either state that lim an does…

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Q: Suppose that 10 years ago you bought a home for $120,000, paying 10% as a down payment, and…

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Q: Suppose you make a down payment of 6% of $27,600 and finance the rest at 1.5% compounded monthly for…

A: The down payment is 6% of $27,600, which is: 0.06 x $27,600 = $1,656   So you are financing the…