MORTGAGE

. Given these details, $350,000 home price, a 30-year mortgage with 10% down at 4.0% fixed rate, what is the monthly Paymant expected on this mortgage?

Given these details, $110,000 annual salary, a monthly car payment $328 and a student loan payment of $230, calculate the maximum monthly payment approved without ther need of sending the application to a committee for deliberation IF the rule used is 30%; and would you receive likely approval for a mortgage with a $2,800 monthly payment with no bad entries on your credit report given the 30% rule??

Which of the following is not considered one of the three 20^th Century FED tools:

1. open market operations (OMO) c. reserve requirement
2. discount rate d. fed funds rate

Which of these FED tools attempts to ensure basic liquidity is held by the banks:

1. open market operations (OMO) c. reserve requirement
2. discount rate d. fed funds rate

Which of the following FED tools was introduced in the 21^st Century, in time to be used for the great Recession:

1. open market operations (OMO) c. reserve requirement
2. discount rate d. interest on reserves

Which of the following may be targeted by the FED but is not directly under the FEDs control:

1. open market operations (OMO) c. reserve requirement
2. discount rate d. fed funds rate