Mathematics, 05.05.2021 08:00 laylah255

1. You are preparing to buy a house. Your monthly gross income is $3,200. a. What is the maximum amount you can finance (mortgage)? (4 points)

b. You have saved $15,000 for a down payment. What is the max you can spend (max house price)? (4 points)

2. You are buying a house that is valued at $499,000. You pay a down payment of 20%.
You finance the rest at 6.5% for 30 years. Your monthly mortgage payment is $2,522.94. The house is expected to appreciate in value 9% per year. Fill in the table with the missing information. (25 points)

Price of House
Down Payment
Amount Financed (Mortgage principal)
Monthly Payment
# of monthly payments
Total Payback
Interest
Appreciated Value after 10 years

3. Your mortgage payment is $585 per month. Your annual real estate taxes are $2,820.
Your annual homeowner’s insurance is $1500. What is your total monthly payment to your lender (includes mortgage and escrow)? (7 points)

Answers: 3

Show answers

Other questions on the subject: Mathematics

Mathematics, 21.06.2019 12:30, Marleneg

Solve the inequality, then identify the graph of the solution. 2x – 1 > x + 2

Answers: 2

continue

Mathematics, 21.06.2019 15:30, 30352

Hurry and answer this! circle x with a radius of 6 units and circle y with a radius of 2 units are shown which steps would prove the circles similar? translate the circles so they share a common center point, and dilate circle y by a scale factor of 4. translate the circles so the center of one circle rests on the edge of the other circle, and dilate circle y by a scale factor of 4. translate the circles so they share a common center point, and dilate circle y by a scale factor of 3. translate the circles so the center of one circle rests on the edge of the other circle, and dilate circle y by a scale factor of 3

Answers: 1

continue

Mathematics, 21.06.2019 19:40, sswd

The owners of four companies competing for a contract are shown in the table below. if a report is released that advocates company b, which of the people having funded the report should result in the most skepticism? company owner of company company a jake adams company b company c company d debby smith henry rose rhonda baker o a. jake adams o b. rhonda baker o c. debby smith o d. henry rose

Answers: 2

continue

Mathematics, 21.06.2019 23:00, cakecake15

Solve the problem by making up an equation. a man could arrive on time for an appointment if he drove the car at 40 mph; however, since he left the house 15 minutes late, he drove the car at 50 mph and arrive 3 minutes early for the appointment. how far from his house was his appointment?

Answers: 1

continue

You know the right answer?

1. You are preparing to buy a house. Your monthly gross income is $3,200. a. What is the maximum a...