The Adeeva's gross monthly income is $7400. They have 18 remaining payments of $270 on a new car. They are applying for a 15-year, $162,000 mortgage at 7.5%. The taxes and insurance on the house are $260 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. Click here for table of Monthly Payments a) Determine 28% of the Adeeva's adjusted monthly income. i Monthly Principal and Interest Payment per $1000 of Mortgage X $ (Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxes, and homeowners' insurance. e $ (Round to the nearest cent.) Number of Years 20 Rate % 10 15 25 30 c) Do they qualify for this mortgage? 4.0 $7.39688 $6.05980 $10.12451 10.36384 $4.77415 5.06685 4.5 6.32649 S5.27837 5.55832 5.84590 No Yes 7.64993 7.90794 8.17083 5.0 5.5 6.14087 10.60655 10.85263 11.10205 11.35480 5.36822 5.67789 5.99551 6.0 6-59956 6.87887 7.16431 7.45573 7.75299 8.43857 8.71107 6.44301 6.75207 6.5 6.32068 7.0 6.65302 8.98828 9.27012 7.06779 7.38901 7.5 8.05593 8.36440 6.99215 7.33765 8.0 7.71816 11.61085 11.87018 12.13276 12.39857 12.66758 12.93976 9.55652 9.84740 8.5 8.67823 7.68913 8.04623 9.0 10.14267 8.99726 9.32131 9.5 10.44225 8.05227 8.39196 8.73607 9.08701 9.44182 8.40854 8.77572 10.0 13.21507 13.49350 13.77500 9.65022 9.98380 10.5 9.14739 10.74605 11.05399 11.36597 11.68190 11.1 9.52323 10.32188 10.66430 9.80113 10.16469 115 14.05954 9.90291 12.0 14.34709 12.00168 11.01086 10.53224 10.28613 The Adeeva's gross monthly income is $7400. They have 18 remaining payments of $270 on a new car. They are applying for a 15-year, $162,000 mortgage at 7.5%. The taxes and insurance on the house are $260 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. Click here for table of Monthly Payments a) Determine 28% of the Adeeva's adjusted monthly income. i Monthly Principal and Interest Payment per $1000 of Mortgage X $ (Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxes, and homeowners' insurance. e $ (Round to the nearest cent.) Number of Years 20 Rate % 10 15 25 30 c) Do they qualify for this mortgage? 4.0 $7.39688 $6.05980 $10.12451 10.36384 $4.77415 5.06685 4.5 6.32649 S5.27837 5.55832 5.84590 No Yes 7.64993 7.90794 8.17083 5.0 5.5 6.14087 10.60655 10.85263 11.10205 11.35480 5.36822 5.67789 5.99551 6.0 6-59956 6.87887 7.16431 7.45573 7.75299 8.43857 8.71107 6.44301 6.75207 6.5 6.32068 7.0 6.65302 8.98828 9.27012 7.06779 7.38901 7.5 8.05593 8.36440 6.99215 7.33765 8.0 7.71816 11.61085 11.87018 12.13276 12.39857 12.66758 12.93976 9.55652 9.84740 8.5 8.67823 7.68913 8.04623 9.0 10.14267 8.99726 9.32131 9.5 10.44225 8.05227 8.39196 8.73607 9.08701 9.44182 8.40854 8.77572 10.0 13.21507 13.49350 13.77500 9.65022 9.98380 10.5 9.14739 10.74605 11.05399 11.36597 11.68190 11.1 9.52323 10.32188 10.66430 9.80113 10.16469 115 14.05954 9.90291 12.0 14.34709 12.00168 11.01086 10.53224 10.28613
