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help me solve this please. Thank you How much money will you have in 25 years if you invest $100 at the beginning of each
help me solve this please. Thank you
How much money will you have in 25 years if you invest $100 at the beginning of each month at 6.2 percent interest rate being compounded semi-annually? (Round to the nearest dollar.) O a. $69,625 O b. $70,609 O c. $70,969 O d. $69,713Jose and Rosa are looking for a home, Their combined gross annual income is $78,000. The best mortgage rate offered by the bank is 3.02 percent 5-year fixed rate compounded semi-annually with a 20 year amortization. The annual property taxes are estimated at $1920, and the annual heating costs are $1680. Their personal debt consumption is $800 a month. The bank guidance for TDSR is 40 percent. Based on this infromation, what is the maximum monthly mortgage payment they can afford? O a. $2233.33 O b. $1500.00 O c. $1635.10 O d. $1701.05The bank has determined that, based on a TDS ratio of 40 percent and other factors, the maximum mortgage payment that lanna qualifies to make is $2221. The five-year fixed of interest is 6 percent compounded semi-annually and the mortgage is to be amortized for 25 years. What is the maximum value of mortgage that lanna may obtain from the bank? O a. $501,044 O b. $308,950 O c. $347,136 O d. $362,098 A house was purchased for $350,000 and has a market value of $385,000 and a mortgage of $263,000. What is the equity in this house O a. $35,000 O b. $87,000 O c. 31.7% O d. $122,000The Taylors agreed to make monthly payments on a mortgate of $144,000 amortized over 15 years. interest for the first 3 years was 8,5 percent compounded semi-annually. Determine the mortgage balance at the end of the 3 -year term. O a. $127,565.67 O b. $127,463.01 O c. $172,704.96 O d. $172,449.11 A poor credit history will appear on your credit report for O a. 3 to 10 years. O b. 7 to 10 years. O c. 3 to 5 years. O d. 5 to 7 years.Rhoda, age 25 would like to start saving for retirement. She will be able to save $400 per month beginning immediately. She will retire once she has saved $1 million. Her investment portfolio will earn at a rate of return of 8% compounded monthly during the entire time that she is saving. Approximately how many years will it take her to reach her savings goal? O a. 35 years O b. 36 years O c. 38 years O d. 37 yearsIf you receive a phone call that seeks to verify or update personal information, you should O a. obtain his or her name and address in case you need to contact him or her in the future. O b. never give out any personal information to someone you do not know. O c. ask to speak to a supervisor. O d. ask several questions of the solicitor to verify his or her authenticity. A $130,000 mortgage is amortized over 25 years. If interest on the mortgage is 6.5 percent compounded semi-annually. Calculate the size of monthly payments made at the end of each month. O a. $807.77 O b. $757.77 O c. $775.77 O d. $870.77Harry purchased his condo for $380,000 and now the appraised value is $390,000. His outstanding mortgage is $252.000. What is the maximum home equity line of credit Harry would qualify for? O a. $121,600 O b. $104,000 O c. $60,000 O d. $52,000Step by Step Solution
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