Question
In: Accounting
given the following infirnation, calculate how much house you can afford. annuak income is 70000, savings...
given the following infirnation, calculate how much house you can
afford.
annuak income is 70000, savings is 22500 for downpayment and
closing, estimated property tax abd insurance are 150, 28% monthly
mortgage pmt affordibioty ratio to lend at avg rate of 6% on 30
years with 10% minimum downpayment. other debt is 400 a month
is
there enough left for closing costs
Solutions
ekkarill92 answered 2 years agoRelated Solutions
You have just retired with savings of $1.5 million. if you expect to live for 30 years and to earn 8% a year on your savings, how much can you afford to spend each year?
Formula questionYou have just retired with savings of $1.5 million. if you
expect to live for 30 years and to earn 8% a year on your savings,
how much can you afford to spend each year? Assume that you spend
the money at the start of the year.
You can afford payments of $700 per month for the purchase of a house.
You can afford payments of $700 per month for the purchase of a
house.a) What is the largest amount you can finance for this house at
3.2% APR for 30 years? (Round to the nearest dollar.) b) How much total will you pay the finance company at the end of
the 30 years for this house if you are paying $700 per month for
thirty years? c) Now you are curious what the payments would be if you
financed the same amount...
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%
$154,611
$174,763
$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
to start to...
Sally wants to buy a car but is unsure how much of . she can afford....
Sally wants to buy a car but is unsure
how much of . she can afford. The maximum monthly payment she can
afford is $780.. Her bank’s interest rate is 14%. annually if she
pays off the loan over 5 years. What is the
maximum amount she can afford to borrow?
Impossible to calculate given the available data
She can afford $53, 352.05
She can afford $46,800.03
D-She can afford $33,522,07
Someone said all options are wrong, can you...
Mary wants to buy a car but is unsure how much of she can afford. The...
Mary wants to buy a car but is unsure how much of she can
afford. The maximum monthly payment she can afford is $780. Her
bank's interest rate is 14% annualy if she pays off loan over 5
years.
what is the maximum amount she can afford to borrow?
- impossible to calculate with given data
- she can afford $53,325.05
-she can afford $46,800.03
-she can afford $33,522.07
(show all excel work)
What is the formula to calculate how much a savings account would be worth if the...
What is the formula to calculate how much a savings account
would be worth if the initial balance is $1,000 with monthly
deposits of $75 for 10 years at 4.3% annual interest compounded
monthly? What is the formula result?
You want a savings account to grow from $1,000 to $5,000 within
two years. Assume the bank provides a 3.2% annual interest rate
compounded monthly. What is the formula to calculate how much you
must deposit each month to meet your...
Suppose you can afford $15,600 per year to invest into a savings annuity. Write this value...
Suppose you can afford $15,600 per year to invest into a savings
annuity. Write this value down, as you'll be using it throughout
this entire problem. We are going to explore various options and
how these options will impact the interest you are making.
Rate
r = 5.3%
If you are making monthly deposits from your available funds,
what is the total value in your annuity at the end of 30 years,
given the rate is 5.3%? $ _____
How...
Suppose you can afford $11,700 per year to invest into a savings annuity. Write this value...
Suppose you can afford $11,700 per year to invest into a savings
annuity. Write this value down, as you'll be using it throughout
this entire problem. We are going to explore various options and
how these options will impact the interest you are making.
Payment Frequency
Monthly
If you deposit your available money on a monthly basis, how much
are you depositing per month? $
If you are earning 6.4% annual interest, what is the total value
of the annuity...
7. I am a student and can afford a monthly car payment of $350. How much...
7. I am a
student and can afford a monthly car payment of $350. How much
could I finance on a car purchase, assuming auto borrowing rates
are 3.0%, and the term of the loan is 5 years?
8. I have since
graduated from Webster. I can now afford a payment of $550 per
month. How much could I finance now, assuming terms of 3.0%, and 6
years?
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