Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I have A and B done but don't know about the rest Please help...thank you (: A is just a picture of the home and

I have A and B done but don't know about the rest Please help...thank you (: image text in transcribed

A is just a picture of the home and the sale price
b) Sale price of the vacation home = $ 520,000 DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT c) If the loan agency requires a down payment of 20%, what will your down payment be? Remember to use the sale price from Part b. Down payment = $ DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed. d) If you plan to finance the rest of the sale price, how much would the loan amount be? Loan amount = $ DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed. e) What would the monthly mortgage payment be if your loan was a 1.9% 30 year fixed mortgage? Monthly mortgage payment = $ DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed. f) How much will you actually pay for the home over 30 years including the down payment? Hint: Don't forget about the down payment! Total amount paid for vacation home = $ DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed. g) How much of what you paid was interest? Amount of interest paid = $ DO NOT TYPE COMMAS OR ANSWERS WILL BE MARKED INCORRECT. Round your answer to 2 decimal places as needed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Social Profit Handbook

Authors: David Grant

1st Edition

1603586040, 978-1603586047

More Books

Students also viewed these Finance questions

Question

What is dividend payout ratio ?

Answered: 1 week ago

Question

Explain the factors affecting dividend policy in detail.

Answered: 1 week ago

Question

Networking is a two-way street. Discuss this statement.

Answered: 1 week ago