table 14-1
Assignment Score: 80.35 (Chapter 14 Section I Review Exercise (22) Save Exit Submit Assignment for Grading Questions of 15 Check My Work You are a real estate broker for Aurora Realty. One of your clients, Erica Heston, has agreed to purchase one of the homes your office has listed for sale for a negotiated price of $205,000. The down payment is 20%, and the balance will be financed with a 15-year fixed-rate mortgage at 7.75% and 2 discount points. The annual property tax is $5,455, and the hazard Insurance premium is $2,120. When Erica signed the original contract, she put down a deposit of $4,000, which will be credited to her down payment. In addition, at the time of closing, Erica must pay the following expenses: Appraisal fee $225 Credit report $55 Roof inspection $40 Mortgage Insurance premium % of amount financed Title search $115 Attorney's fees $670 Escrow fee Prepaid interest $630 $210 As Erica's real estate broker, she has asked you the following questions: Click here for Table 14-1 Round Intermediate calculations to two decimal places. a. What is the total monthly PITI of the mortgage loan? Round to the nearest cent. ENG 522020 BI pe here to search 19 10 lave 10 Escrow tee Prepaid interest $210 $630 As Erica's real estate broker, she has asked you the following questions: Click here for Table 14-1 Round Intermediate calculations to two decimal places. a. What is the total monthly PITI of the mortgage loan? Round to the nearest cent. b. What is the total amount of interest that will be paid on the loan? Round to the nearest cent. c. How much is due from Erica at the time of the closing? Round to the nearest cent. d. If your real estate office is entitled to a commission from the seller of 7% of the price of the home, how much commission is made on the sale? Round to the nearest cent. Check My Work 0-leon Key {Chapter 14 Section I Review Exercise 122) Questions of 15 Save Ex Submit Assignment for Grading de ING 110 PM 5/21/2020 O ype here to search ON BE ta ad Monthly Payments (Necessary to amortize a loan of $1,000) Interest 5 10 15 20 25 30 35 40 Rate (%) Years Years Years Years Years Years Years Years 3.50 $18.19 $9.89 $7.15 $5.80 $5.01 $4.49 $4.13 $3.87 3.75 18.30 10.01 7.27 5.93 5.14 4.63 4.28 4.03 4.00 18.42 10.12 7.40 6.06 5.28 4.77 4.43 4.18 4.25 18.53 10.24 7.52 6.19 5.42 4.92 4.58 4.34 4.50 18.64 10.36 7.65 6.33 5.56 5.07 4.73 4.50 4.75 18.76 10.48 7.78 6.46 5.70 5.22 4.89 4.66 5.00 18.88 10.61 7.91 6.60 5.85 5.37 5.05 4.83 5.25 18.99 10.73 8.04 6.74 6.00 5.53 5.21 4.99 5.50 19.11 10.86 8.18 6.88 6.15 5.68 5.38 5.16 5.75 19.22 10.98 8.31 7.03 6.30 5.84 5.54 5.33 6.00 19.34 11.11 8.44 7.17 6.45 6.00 5.71 5.51 6.25 19.45 11.23 8.58 7.31 6.60 6.16 5.88 5.68 6.50 19.57 11.36 8.72 7.46 6.76 6.33 6.05 5.86 6.75 19.69 11.49 8.85 7.61 6.91 6.49 6.22 6.04 7.00 19.81 11.62 8.99 7.76 7.07 6.66 6.39 6.22 7.25 19.92 11.75 9.13 7.91 7.23 6.83 6.57 6.10 7.50 20.04 11.88 9.28 8.06 7.39 7.00 6.75 6.59 7.75 20.16 12.01 9.42 8.21 7.56 7.17 6.93 6.77 8.00 20.28 12.14 9.56 8.37 7.72 7.34 7.11 6.96 8.25 20.40 12.27 9.71 8.53 7.89 7.52 7.29 7.15 8.50 20.52 12.40 9.85 8.68 8.06 7.69 7.47 7.34 8.75 20.64 12.54 10.00 884 7.87 7.66 7.53 20.76 12.67 10.15 9.00 8.40 8.05 7.84 7.72 9.25 20.88 12.81 10.30 9.16 8.57 7.91 o 18 thom 8.4 6.25 19.45 19.57 19.69 11.23 11.36 6.50 8.58 8.72 8.85 8.99 7.17 7.31 7.46 7.6] 6.75 11.49 7.00 19.81 11.62 7.76 9.13 791 9.28 3.06 9.42 8.21 9.56 7.11 8.37 8.53 9.71 8.68 A.84 9.00 7.1 19.92 11.75 7.500 20.04 11.88 7.75 20.16 12.01 8.00 20.28 12.14 8.25 20.40 12.27 8.50 20.52 12.40 8.75 20.64 12.54 9.00 20.76 12.67 9.12 20.88 12.81 9.50 21.01 12.94 9.75 21.13 13.08 10.0M) 21.25 13.22 10.25 21.38 13.36 10.50 21.50 13.50 10.75 21.62 11.64 11.00 21.75 19.78 11.25 21.87 13.92 1. SAN 22.CMD 14.06 11.75 22.12 14.2L 12.AI) 2225 14.35 12.25 12.18 L-25) 12.8 22.50) 14.64 12.75 22.fi 14.79 13.AI) 22. The 14.41 9.16 6.45 6.00 5.71 5.5| 6.60 6.16 5.88 15.68 6.76 6.33 6.05 5.86 6.91 6.49 6.22 6.4 7.07 6.6 6.30 6.22 723 6.83 6.57 6.40 7.39 7.00 6.75 6.59 7.56 7.17 6.93 6.77 7.72 7.34 6.96 7.89 7.52 79 7.15 8.06 7.69 7.47 7.34 8.23 7.87 7.66 7.53 8.40 8.05 7.84 7.72 857 8.23 8.03 791 8.74 8.41 827 8.11 8.92 8.60 8.41 8.30 9.09 18.78 8.60 8.50 9.27 8.97 8.79 8.69 9.45 9.15 8.99 8.89 9.63 9.34 9.18 9.00 9.8L 95 937 99 9.72 9.57 1 10.17 9.91 9.77 1035 10.10 9.89 105-1 10.29 ID.J6 TUDIO ID 72 TD-48 106 11 ) | 19 | ID.hk | 0.56 10.1 || LI |DA 6 | | LIT ||| 28 II.LOT |LED 146 | LI AM 9.85 10.00 10.15 10.30 10.45 10.60 10.75 10.90 II.CN6 11.21 11.37 1151 11.69 11.85 12 01 12.17 12 9.33 9.49 9.66 9.82 9.99 10.16 10.33 10.50 10.67 10.84 LL.02 11.19 || 17 ||| 1.72 9.99 12.11 | 2. fate 0 Assignment Score: 80.35 (Chapter 14 Section I Review Exercise (22) Save Exit Submit Assignment for Grading Questions of 15 Check My Work You are a real estate broker for Aurora Realty. One of your clients, Erica Heston, has agreed to purchase one of the homes your office has listed for sale for a negotiated price of $205,000. The down payment is 20%, and the balance will be financed with a 15-year fixed-rate mortgage at 7.75% and 2 discount points. The annual property tax is $5,455, and the hazard Insurance premium is $2,120. When Erica signed the original contract, she put down a deposit of $4,000, which will be credited to her down payment. In addition, at the time of closing, Erica must pay the following expenses: Appraisal fee $225 Credit report $55 Roof inspection $40 Mortgage Insurance premium % of amount financed Title search $115 Attorney's fees $670 Escrow fee Prepaid interest $630 $210 As Erica's real estate broker, she has asked you the following questions: Click here for Table 14-1 Round Intermediate calculations to two decimal places. a. What is the total monthly PITI of the mortgage loan? Round to the nearest cent. ENG 522020 BI pe here to search 19 10 lave 10 Escrow tee Prepaid interest $210 $630 As Erica's real estate broker, she has asked you the following questions: Click here for Table 14-1 Round Intermediate calculations to two decimal places. a. What is the total monthly PITI of the mortgage loan? Round to the nearest cent. b. What is the total amount of interest that will be paid on the loan? Round to the nearest cent. c. How much is due from Erica at the time of the closing? Round to the nearest cent. d. If your real estate office is entitled to a commission from the seller of 7% of the price of the home, how much commission is made on the sale? Round to the nearest cent. Check My Work 0-leon Key {Chapter 14 Section I Review Exercise 122) Questions of 15 Save Ex Submit Assignment for Grading de ING 110 PM 5/21/2020 O ype here to search ON BE ta ad Monthly Payments (Necessary to amortize a loan of $1,000) Interest 5 10 15 20 25 30 35 40 Rate (%) Years Years Years Years Years Years Years Years 3.50 $18.19 $9.89 $7.15 $5.80 $5.01 $4.49 $4.13 $3.87 3.75 18.30 10.01 7.27 5.93 5.14 4.63 4.28 4.03 4.00 18.42 10.12 7.40 6.06 5.28 4.77 4.43 4.18 4.25 18.53 10.24 7.52 6.19 5.42 4.92 4.58 4.34 4.50 18.64 10.36 7.65 6.33 5.56 5.07 4.73 4.50 4.75 18.76 10.48 7.78 6.46 5.70 5.22 4.89 4.66 5.00 18.88 10.61 7.91 6.60 5.85 5.37 5.05 4.83 5.25 18.99 10.73 8.04 6.74 6.00 5.53 5.21 4.99 5.50 19.11 10.86 8.18 6.88 6.15 5.68 5.38 5.16 5.75 19.22 10.98 8.31 7.03 6.30 5.84 5.54 5.33 6.00 19.34 11.11 8.44 7.17 6.45 6.00 5.71 5.51 6.25 19.45 11.23 8.58 7.31 6.60 6.16 5.88 5.68 6.50 19.57 11.36 8.72 7.46 6.76 6.33 6.05 5.86 6.75 19.69 11.49 8.85 7.61 6.91 6.49 6.22 6.04 7.00 19.81 11.62 8.99 7.76 7.07 6.66 6.39 6.22 7.25 19.92 11.75 9.13 7.91 7.23 6.83 6.57 6.10 7.50 20.04 11.88 9.28 8.06 7.39 7.00 6.75 6.59 7.75 20.16 12.01 9.42 8.21 7.56 7.17 6.93 6.77 8.00 20.28 12.14 9.56 8.37 7.72 7.34 7.11 6.96 8.25 20.40 12.27 9.71 8.53 7.89 7.52 7.29 7.15 8.50 20.52 12.40 9.85 8.68 8.06 7.69 7.47 7.34 8.75 20.64 12.54 10.00 884 7.87 7.66 7.53 20.76 12.67 10.15 9.00 8.40 8.05 7.84 7.72 9.25 20.88 12.81 10.30 9.16 8.57 7.91 o 18 thom 8.4 6.25 19.45 19.57 19.69 11.23 11.36 6.50 8.58 8.72 8.85 8.99 7.17 7.31 7.46 7.6] 6.75 11.49 7.00 19.81 11.62 7.76 9.13 791 9.28 3.06 9.42 8.21 9.56 7.11 8.37 8.53 9.71 8.68 A.84 9.00 7.1 19.92 11.75 7.500 20.04 11.88 7.75 20.16 12.01 8.00 20.28 12.14 8.25 20.40 12.27 8.50 20.52 12.40 8.75 20.64 12.54 9.00 20.76 12.67 9.12 20.88 12.81 9.50 21.01 12.94 9.75 21.13 13.08 10.0M) 21.25 13.22 10.25 21.38 13.36 10.50 21.50 13.50 10.75 21.62 11.64 11.00 21.75 19.78 11.25 21.87 13.92 1. SAN 22.CMD 14.06 11.75 22.12 14.2L 12.AI) 2225 14.35 12.25 12.18 L-25) 12.8 22.50) 14.64 12.75 22.fi 14.79 13.AI) 22. The 14.41 9.16 6.45 6.00 5.71 5.5| 6.60 6.16 5.88 15.68 6.76 6.33 6.05 5.86 6.91 6.49 6.22 6.4 7.07 6.6 6.30 6.22 723 6.83 6.57 6.40 7.39 7.00 6.75 6.59 7.56 7.17 6.93 6.77 7.72 7.34 6.96 7.89 7.52 79 7.15 8.06 7.69 7.47 7.34 8.23 7.87 7.66 7.53 8.40 8.05 7.84 7.72 857 8.23 8.03 791 8.74 8.41 827 8.11 8.92 8.60 8.41 8.30 9.09 18.78 8.60 8.50 9.27 8.97 8.79 8.69 9.45 9.15 8.99 8.89 9.63 9.34 9.18 9.00 9.8L 95 937 99 9.72 9.57 1 10.17 9.91 9.77 1035 10.10 9.89 105-1 10.29 ID.J6 TUDIO ID 72 TD-48 106 11 ) | 19 | ID.hk | 0.56 10.1 || LI |DA 6 | | LIT ||| 28 II.LOT |LED 146 | LI AM 9.85 10.00 10.15 10.30 10.45 10.60 10.75 10.90 II.CN6 11.21 11.37 1151 11.69 11.85 12 01 12.17 12 9.33 9.49 9.66 9.82 9.99 10.16 10.33 10.50 10.67 10.84 LL.02 11.19 || 17 ||| 1.72 9.99 12.11 | 2. fate 0
