You have just been approved for a 30 year 5.5% fixed home mortgage. The monthly payment that you qualify for is $879.32. Use the table provided to determine the price of a home that can be purchased. A 5-column table with 4 rows titled Monthly Payments per 1000 dollars of mortgage. Column 1 is labeled Interest Rate (percent) with entries 5, 5.5, 6, 6.5. Column 2 is labeled 10 Years with entries 10.61, 10.86, 11.11, 11.36. Column 3 is labeled 20 years with entries 6.60, 6.88, 7.17, 7.46. Column 4 is labeled 30 years with entries 5.37, 5.68, 6.00, 6.33. Column 5 is labeled 40 years with entries 4.83, 5.16, 5.51, 5.86.
a.
$154,267
c.
$156,753
b.
$154,810
d.
$157,153

Problems and applications q5 four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. here is their willingness to pay for each film: willingness to pay (dollars) shen antonio dmitri jake first film 10 9 8 3 second film 8 7 6 2 third film 6 5 4 1 fourth film 4 3 2 0 fifth film 2 1 0 0 within the dorm room, the showing of a movie a public good. if it costs $12 to rent a movie, the roommates should rent movies in order to maximize the total surplus. suppose the roommates choose to rent the optimal number of movies you just indicated and then split the cost of renting equally. this means that each roommate will pay $ .