Jackson is buying a house for $187,000. He puts 20% down then finances the balance for...

Jackson is buying a house for $187,000. He puts 20% down then finances the balance for 30 years at 2.75% interest. The monthly homeowners association dues are $115 per month. Home insurance totals $1712 per year, and annual taxes are $2740. Assuming home owner association fees, taxes and insurance are added monthly to the total house payment, find the total monthly amount that Jackson will pay for the house.

Expert Solution

ekkarill92 answered 2 years ago

Jackson is buying a house for $244,000. He puts 20% down then finances the balance for...

Jackson is buying a house for $244,000. He puts 20% down then finances the balance for 30 years at 4.75% interest. The monthly homeowners association dues are $135 per month. Home insurance totals $1842 per year, and annual taxes are $3120. Assuming home owner association fees, taxes and insurance are added monthly to the total house payment, find the total monthly amount that Jackson will pay for the house.

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