You wish to purchase a condo at a cost of $175,000. You are able to make a down payment of $35,000 and will borrow $140,000 for 30 years at an interest rate of 7.25%. How much is your monthly payment?
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- Need helpNeed Correct answerYou want to purchase a house valued at $200,000. After a downpayment, you can finance the house with a 20 year mortgage at 4.2% APR, compounded monthly. What percentage of the house will you need to finance in order to have monthly payments of $1,000? Round to two decimal places. What is the downpayment?
- After making payments of $901.10 for 6 years on your 30-year loan at 8.9%, you decide to sell your home. What is the loan payoff?You'd like to purchase a house. You're monthly take home pay is $4560. You'd like to use one fourth of your take home pay for a house payment. You have $18500 for a down payment. You can get an APR of 4.35% compounded monthly. What is the total cost of a house you can afford with a 15 year mortgage?When you retire, you plan to draw $50,000 per year from your retirement accounts, which will be earning 6% per year. Find PV Annuity: If you wish to do that for 10 years starting one year after you retire, what does the balance in your retirement account have to be when you retire? Find PV Annuity: If the account will be earning 3% per year, and you wish to do that for 20 years starting on the day you retire, what does the balance in your retirement account have to be when you retire?
- The Eternal Gift Insurance Company is offering you a policy that will pay you and your heirs $10,000 a year forever. The cost of the policy is $285,000. What is the rate of return on this policy if the payment starts today? answer is 3.64%suppose you are buying your first condo for 145,000 and you will make $15,000 down payment. you have arranged to finnace the remainder with a 30 year monthly payment amortized mortgage at a 55 nominal interest rate with first payment due in one month what will your monthly payments be? how much of first month payment is the prindipalYou would like to purchase a car that costs $47000 at 7% APR for 3 years. What is your monthly payment?
- Need helpNeed helpLet’s assume that you plan to purchase a house which is selling for $350,000 today. You will make a monthly payment for the next 30 years, with an annual interest rate of 3%. What will be the amount of your monthly mortgage (i.e., home loan) payment? answer choices $1,890.37 $1,400.01 $1,475.61 $1,228.14