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Luis is going to buy a house whose sale price is $ 246,500.00, the finance company requires a shortly of 5.45% of the sale price,
Luis is going to buy a house whose sale price is $ 246,500.00, the finance company requires a shortly of 5.45% of the sale price, the closing costs are 6.5% of the balance, the rate interest on the loan is 3 3/8% compounded monthly and the principal will be finance for 30 years. What will the monthly payment be? What will be the total cost of the house? That part of the first payment corresponds to the interest and how much will be contributed to the principal? Entry Luis's net monthly payment is $ 5,080.00 and the bank's borrowing policy establishes that the payment monthly will not exceed 30.45% of net monthly income, can you buy the house?
Luis is going to buy a house whose sale price is $ 246,500.00, the finance company requires a
shortly of 5.45% of the sale price, the closing costs are 6.5% of the balance, the rate
interest on the loan is 3 3/8% compounded monthly and the principal will be
finance for 30 years. What will the monthly payment be? What will be the total cost of the house? That
part of the first payment corresponds to the interest and how much will be contributed to the principal? Entry
Luis's net monthly payment is $ 5,080.00 and the bank's borrowing policy establishes that the payment
monthly will not exceed 30.45% of net monthly income, can you buy the house?
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
