Question
Find the values requested in the problems. Round all answers to 2 decimals and please identify the parts for your responses You decide after a
Find the values requested in the problems. Round all answers to 2 decimals and please identify the parts for your responses
You decide after a few successful years in the field, you decided that it's time to buy a house. you speak to the bank and the take out mortgage for $175,000 for 30 years ( that is the price of a home today is $175,000)
a) IF YOU PAY 1% PER MONTH WHAT IS YOUR MONTHLY PAYMENT
b) Assume housing prices appreciate 4% per year. What will the approximate value of your home be at the end of the mortgage?
c) How would your payments change if you took a 15 year mortgage and paid 2% per month?
d) would this change the future value of your home in 30 years? if so, to what?
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