Question
In: Finance
How much would you have to put down on a house costing $160,000 if the house...
How much would you have to put down on a house costing $160,000 if the house had an appraised value of $169,000 and the lender required an 80% loan-to-value ratio?
Solutions
jeff jeffy answered 2 years agoRelated Solutions
How much would you have to put down on a house with a selling price of...
How much would you have to put down on a house with a selling
price of $90,000 and an appraised value of $95,000 when the lender
required an 80% loan-to-value ratio?
The Turners have purchased a house for $160,000. They made an initial down payment of $30,000...
The Turners have purchased a house for $160,000. They made an
initial down payment of $30,000 and secured a mortgage with
interest charged at the rate of 7%/year compounded monthly on the
unpaid balance. The loan is to be amortized over 30 yr. (Round your
answers to the nearest cent.)
(a) What monthly payment will the Turners be required to
make?
$
(b) How much total interest will they pay on the loan?
$
(c) What will be their equity...
FUTURE VALUE - (a) How much money would you have in a year if you put...
FUTURE VALUE -
(a) How much money would you have in a year if you put $1,000 in
the bank at an annual interest rate of 3 percent? How much would
you have if you left all of that money in the bank for another year
and annual interest rates increased to 4 percent in the second
year? (PLEASE INCLUDE FORMULAS UTILIZED TO SOLVE PROBLEM)
(b) How much money would you have in a year if you put $2,500 in...
You bought a house for $150,000 and put down 10% and got a mortgage at an...
You bought a house for $150,000 and put down 10% and got a
mortgage at an interest rate of 4.35 % per year. You would pay it
back by paying an equal amount at the end of each month for 15
years? (Show all work) How much is your loan amount? How much is
your monthly loan payment? How much is your loan balance after 2
years? How much is your total interest payment by the end of year
3?
You are planning to buy a house in New Jersey. You put a 20% down payment,...
You are planning to buy a house in New Jersey. You put a 20%
down payment, and 15-year mortgage rates are at 4.2% -Price of the
house is $400,000.
a. Calculate the monthly payments.
b- Calculate the 1st month interest payment.
c-Calculate the 1st month principal payments
You are planning to buy a house in New Jersey. You put a 20% down payment,...
You are planning to buy a house in New Jersey. You put a 20%
down payment, and 15-year mortgage rates are at 4.2% -Price of the
house is $400,000.
A. Calculate the 1st month interest payments
B.Calculate the 1st month principal payments
C. Calculate the monthly payments.
Place answer in the box below and use 2 decimals and no $
sign
You wish to buy a house today for $350,000. You plan to put 10% down and...
You wish to buy a house today for $350,000. You plan to put 10%
down and finance the rest at 5.20%
p.a. for thirty years. You will make
equal monthly payments of $_______.
You wish to buy a house today for $350,000. You plan to put 10% down and...
You wish to buy a house today for $350,000. You plan to put 10%
down and finance the rest at 5.20%
p.a. for thirty years. You will make
equal monthly payments of $_______.
1. You just bought a house for $300,000. You put $100,000 as a down payment and...
1. You just bought a house for $300,000. You put
$100,000 as a down payment and borrow the remaining $200,000 from a
bank. You take out a 30-year mortgage that charges you 6 percent
APR but with monthly compounding.
a. How much is your monthly mortgage payment? Show your
work.
b. How much of your second mortgage payment goes towards
interest? Show your work.
You are planning to purchase a house that costs $480,000. You plan to put 20% down...
You are planning to purchase a house that costs $480,000. You
plan to put 20% down and borrow the remainder. Based on your credit
score, you believe that you will pay 3.99% on a 30-year
mortgage.
Use function “PMT” to calculate your mortgage payment.
Use function “PV” to calculate the loan amount given a payment
of $1700 per month. What is the most that you can borrow?
Use function “RATE” to calculate the interest rate given a
payment of $1700...
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