Question
In: Finance
An engineer wishes to buy a house but can only afford monthly payments of $1500. 30-...
An engineer wishes to buy a house but can only afford monthly payments of $1500. 30-
year loans are available at 5.75% interest compounded monthly. If the engineer can make
a $20,000 down payment, what is the price of the most expensive house that the engineer
can afford to purchase?
Solutions
jeff jeffy answered 5 months agoRelated Solutions
A young engineer wishes to buy a house but only can afford monthly payments of $500....
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monthly payments of $500. Thirty-year loans are available at 12%
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You’d like to buy a house. You can borrow $600,000 but you can
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$154,611
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$189,305
$217,206
You’d like to buy a house. You can borrow $600,000 but you can only afford to...
You’d like to buy a house. You can borrow $600,000 but you can
only afford to make monthly payments of $2,750. The lender agrees
to allow you to make this payment on a 30 year mortgage, but then
you must make a balloon payment to cover any shortfall. What is the
dollar amount you’ll still owe if your mortgage rate is
4.349%
$174,763
$217,206
$189,305
$154,611
You have $12,000 in credit card debt and have finally decided
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Joe Smith, a young Engineer has planned to buy a house that they could afford. He...
Joe Smith, a young Engineer has
planned to buy a house that they could afford. He
and his
spouse have been
saving even before getting married and have put
away about $65,000.
The average price of a start up
house or condo is about $550,000 here in Los Angeles,
California.
They have the following options to
take a Jumbo loan;
1. )
30-years fixed (% 20 down)
· Note rate: 3.75 %
· Cost: 0.0 Points
2. )
15-years fixed...
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