Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help on questions E, F, and G!!! Thank you so much! I would appreciate a step by step also!!! 3) Find a vacation home

Please help on questions E, F, and G!!! Thank you so much! I would appreciate a step by step also!!! image text in transcribed
image text in transcribed
3) Find a vacation home that you would like to own on the internet. a) Paste a picture or screen shot in the box below using the "mountain" button to add the picture. The picture should include the following: i) Picture of the vacation home. ii) Sale price of the vacation home. Edit Insert Formats BIU A b) Sale price of the vacation home = $( 295000 DO NOTTYPE 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 = $1 59000 DO NOTTYPE 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 = $1 236000 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 2.3% 30 year fixed mortgage? Monthly mortgage payment-S 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- s 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

Step: 3

blur-text-image

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

Horizons Of Tomorrow Next 50 Years

Authors: Suleyman Ismail

1st Edition

979-8223501329

More Books

Students also viewed these Finance questions