tempt review ... Milo Started Q EC580 Quizzes for m Fall 2020 EC580-74... Question 3 Complete You have just signed a contract to purchase your dream house. The price is $275,000 and you have applied for a $200,000, 30-year, 3.75 percent loan. Annual property taxes are expected to be $2,700. Hazard insurance will cost $600 per year. Your car payment is $500, with 36 months left. Your monthly gross income is $5,000. Calculate: Marked out of 5.00 P Flag question 1). The monthly payment of principal and interest: $ 2), Monthly PITI (principal, interest, taxes, and insurance): $ 3). The housing expense (front-end) ratio: 4), The debt-to-Income (back-end) ratio: 5). If the lender has established a 80% loan-to-value ratio cutoff as one of its primary underwriting criteria, will your loan application be approved along this dimension? Question 4 Complete Marked out of 1.00 Amy is trying to decide whether or not it would be beneficial to employ the services of a real estate broker in order to facilitate the sale of her home. She has estimated that the marketing costs and opportunity cost associated with time spent dealing with prospective buyers amounts to $5,000. If Amy were to sell the house on her own for $225,000, but a broker would have been able to negotiate a higher price of $245,000, what commission rate should Amy have been willing to accept from a real estate broker to make her indifferent between selling the house on her own and hiring a real estate broker? P Flag question Select one a. 2.4% b. 5,5% c. 5,0% d. 10.2% F4 F5 . F6 >Il F8 F9 F10 611 U 1 $ 4 * % 5 & 7 + 6 8 9 ) 0 = de R. T Y