Question 1. Determine the amount John and Emma put down on their Madison Townhome.

Question 2. What is the balance on their townhome loan?

Question 3. John and Emma have met with a realtor who says that they should be able to sell their Madison town home for $187,000 (after realtor fees). Assume that John and Emma do in fact sell their townhome for $187,000, what will the proceeds/profit be? Proceeds from the sale of townhome: ________________________Explain/Show how you reached your answer:

Question 4. John and Emma plan on using the entire proceeds from the sale of the Madison townhome as a down payment on their Twin Cities house. Find the price of the house they can afford if that amount is a 15% down payment. Amount: _________________________ Explain/Show how you reached your answer:

Question 5. John and Emma plan on using the entire proceeds from the sale of the Madison townhome as a down payment on their Twin Cities house. Find the price of the house they can afford if that amount is a 20% down payment. Amount: _________________________ Explain/Show how you reached your answer:

Question 6. Use the 28%-36% rule (in the list of useful information on project) to determine what their maximum monthly mortgage payment should be. Maximum monthly mortgage: ______________________Explain/Show how you reached your answer:

Could help me with the above question. This mini project need to be summited today

MAT101 Housing Project MAT101 Housing Project