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you decide that you want to buy a house worth $800,000. you put a 20% downpayment and finance the rest with a 30 year mortgage
you decide that you want to buy a house worth $800,000. you put a 20% downpayment and finance the rest with a 30 year mortgage with a fixed 5% interest rate. What is your total actual monthly cost of investment for the first month assuming you pay annual real estate taxes of $15,000, annual insurance expense of 1,200, receive a monthly rent of 2,000 and the current tax rate is 30%? assume real estate taxes and monthly mortgages are tax deductible.
a) 12,104.96
b) 2,479.96
c)6,479.69
d)1,379.96
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