Alan and Samantha Brown have a mortgage with the Bank of America. The bank requires the Browns to pay their homeowner's insurance, property taxes, and mortgage in one monthly payment to the bank. Their monthly mortgage payment is $1,450.30, their semi-annual property tax bill is $6,470, and their annual homeowner's insurance bill is $980. How much is the monthly payment they make to Bank of America?
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Alan and Samantha Brown have a mortgage with the Bank of America. The bank requires the Browns to pay their homeowner's insurance, property taxes, and mortgage in one monthly payment to the bank. Their monthly mortgage payment is $1,450.30, their semi-annual property tax bill is $6,470, and their annual homeowner's insurance bill is $980. How much is the monthly payment they make to Bank of America?
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- Jackie and Joanie take out a mortgage. Their annual property taxes are $1688 and their annual homeowners insurance is $1576. What is their monthly taxes and insurance (TI) portion of their mortgage?The Bowers have a mortgage with National Trust Bank. The bank requires that the Bowers pay their homeowner’s insurance, property taxes, and mortgage in one monthly payment to the bank. Their monthly mortgage payment is $1,500.00. Their semi-annual property tax bill is $6,250.00. Their annual homeowner’s insurance bill is $1,200.00. How much is the monthly payment they make to National Trust? $2642.00Rafaela has a gross monthly income of $3,900. She has 15 remaining payments of $189 on a used car. The taxes and insurance on a house Rafaela may purchase are $115 per month. What maximum monthly payment does the bank's loan officer feel that Rafaela can afford? The maximum monthly payment includes principal and interest for the amount of the loan as well as the taxes and insurance. Round your answer to the nearest cent.
- Louise Mclntyre's monthly gross income is $3,100. Her employer withholds $780 in federal, state, and local income taxes and $330 in Social Security taxes per month. Louise contributes $180 each month for her IRA. Her monthly credit payments for VISA and MasterCard are $105 and $100, respectively. Her monthly payment on an automobile loan is $335. a. What is Louise's debt payments-to-income ratio?Louise's monthly gross income is $2, 300. Her employer withholds $460 in federal, state, and local income taxes and $184 in Social Security taxes per month. Louise contributes $92 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $43, $33, and $20, respectively. Her monthly payment on an automobile loan is $353. What is Louise's debt payments to income ratio?Ted Phillips has monthly take-home pay of $1,200; he makes payments of $450 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Ted's debt burden?
- Louise's monthly gross income is $2,700. Her employer withholds $540 in federal, state, and local income taxes and $216 in Social Security taxes per month. Louise contributes $108 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $36, $39, and $21, respectively. Her monthly payment on an automobile loan is $289. (a) What is Louise's debt payments-to-income ratio? (Enter your answer as a percent rounded to 1 decimal place.) Debt payments-to-income ratio % (b) Is Louise living within her means? O Yes O NoThe McQuires pay a monthly mortgage payment of $1040. They also pay semi-annual property tax bill of $5,812 and semi-annual homeowner's insurance of $685. The property tax and insurance are paid monthly into an escrow account to their lender. What is their monthly payment to their lender?Louise’s monthly gross income is $2,800. Her employer withholds $560 in federal, state, and local income taxes and $224 in Social Security taxes per month. Louise contributes $112 per month for her IRA. Her monthly credit payments for Visa, MasterCard, and Discover cards are $44, $34, and $21, respectively. Her monthly payment on an automobile loan is $355. (a) What is Louise’s debt payments-to-income ratio? Im not sure how to answer this as a percent rounded to 1 decimal place. (b) Is Louise living within her means?
- Karen owns a rental house in Ruston. Her policy requires the renter to make an initial deposit equal to the monthly payments which are $750. Whenever she receives her payments, she places the money into a savings account that has a 3.5% annual interest compounded monthly. Her renter gives the initial deposit on February 1, 2018. He pays on the first of the month every month for the next three years. How much will Karen’s savings be worth on February 1, 2021.Ted Phillips has monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Ted’s debt burden? What if his take-home pay were $850 a month and he had monthly credit payments of$150?Jackson and Svetlana are applying for a $600,000 mortgage to purchase a new house. The monthly payment for this proposed mortgage is $2.839.48. They have told you that they also have a car payment of $1.305 per month, annual car insurance of $1,850, an RRSP contribution of $150 per month by papall deduction a weekly loan payment of $75 and total monthly credit card payments of $320. Their property taxes are $5,884 per year. Their combined income is $155.394 per year and heat on this house is $100 per month What is their TDS? Select one: a.40.00% b. 38.07% c.41.19% d.42.35%