Ben buys a house. He obtains a $220,000, 30-year mortgage at 5%. Annual property taxes $1,800, property insurance $480 a year, house association fee $220 a month. Based on these items what is the total monthly mortgage payment?
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Ben buys a house. He obtains a $220,000, 30-year mortgage at 5%. Annual property taxes $1,800, property insurance $480 a year, house association fee $220 a month. Based on these items what is the total monthly mortgage payment?
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- Felix is purchasing a brownstone townhouse for $2,800,000. To obtain the mortgage, Felix is required to make a 17% down payment. Felix obtains a 25-year mortgage with an interest rate of 7.5%. LOADING... Click the icon to view the table of monthly payments. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest. Rate % 10 15 20 25 303.0 $9.65067 $6.90582 $5.54598 $4.74211 $4.216043.5 9.88859 7.14883 5.79960 5.00624 4.490454.0 10.12451 7.39688 6.05980 5.27837 4.774154.5 10.36384 7.64993 6.32649 5.55832 5.066855.0 10.60655 7.90794 6.59956 5.84590 5.368225.5 10.85263 8.17083 6.87887 6.14087 5.677896.0 11.10205 8.43857 7.16431 6.44301 5.995516.5 11.35480 8.71107 7.45573 6.75207 6.320687.0 11.61085 8.98828 7.75299 7.06779 6.653027.5 11.87018 9.27012 8.05593 7.38991 6.992158.0 12.13276 9.55652 8.36440 7.71816 7.337658.5 12.39857 9.84740 8.67823 8.05227 7.689139.0 12.66758…You plan to purchase a $160,000 house using a 15-year mortgage obtained from your local credit union. The mortgage rate offered to you is 6.5 percent. You will make a down payment of 15 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Calculate the amount of interest and, separately, principal paid in the 25th payment. c. Calculate the amount of interest and, separately, principal paid in the 80th payment. d. Calculate the amount of interest paid over the life of this mortgage. (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16)) a. Monthly payment b. Amount of interest Amount of principal Amount of interest Amount of principal d. Amount of interest paid C. AmountFelix is purchasing a brownstone townhouse for $2,800,000. To obtain the mortgage, Felix is required to make a 17% down payment. Felix obtains a 25-year mortgage with an interest rate of 6.5%. LOADING... Click the icon to view the table of monthly payments. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest. a) Determine the amount of the required down payment.
- You plan to purchase an $80,000 house using a 15-year mortgage obtained from your local bank. The mortgage rate offered to you is 8.00 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage.b. Calculate the amount of interest and, separately, principal paid in the 127th payment.c. Calculate the amount of interest and, separately, principal paid in the 159th payment.d. Calculate the amount of interest paid over the life of this mortgage.Laura and Martin obtain a 30-year, $170,000 conventional mortgage at 9.5% on a house selling for $190,000. Their monthly mortgage payment, including principal and interest, is $1429.70. a) Determine the total amount they will pay for their house. b) How much of the cost will be interest? c) How much of the first payment on the mortgage is applied to the principal?You plan to purchase a $200,000 house using a 15-year mortgage obtained from your local credit union. The mortgage rate offered to you is 4.5 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Calculate the amount of interest and, separately, principal paid in the 20th payment. c. Calculate the amount of interest and, separately, principal paid in the 100th payment. d. Calculate the amount of interest paid over the life of this mortgage. (For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))
- Find the monthly payment for each loan below. Remember to assume monthly compounding. 11. Sean and Sam purchase a house with a $20,000 down payment. The purchase price of the house was $475,000 and they financed the rest for 3.75% for 30 years. Their annual taxes will be $2856, and their annual insurance will be $1984. What will their monthly principal, interest, tax, and insurance (PITI) mortgage payment be?A couple buys a $170000 home, making a down payment of 24%. The couple finances the purchase with a 15 year mortgage at an annual rate of 3.35%. Find the monthly payment. If the couple decides to increase the monthly payment to $1000 find the number of payments.Adam purchases a house and gets a 20-year mortgage for $185,000 at 5.5% APR. In addition to the monthly payment, the lender requires him to pay into an escrow account for the homeowners insurance and property tax. His homeowners insurance is $1000 per year and the property tax is $1300 per year. Determine the monthly payment to the lender that includes the insurance and property tax. Round your answer to the nearest cent.
- Anna is buying a house selling for $285,000. To obtain the mortgage, Anna is required to make a 10% down pa Anna obtains a 30-year mortgage with an interest rate of 4%. Click the icon to view the table of monthly payments. a) Determine the amount of the required down payment b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest. a) Determine the amount of the required down payment. COAnna is buying a house selling for $255,000. To obtain the mortgage, Anna is required to make a 15% down payment. Anna obtains a 30-year mortgage with an interest rate of 6%. Click the icon to view the table of monthly payments. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest. a) Determine the amount of the required down payment. $ b) Determine the amount of the mortgage. $ c) Determine the monthly payment for principal and interest. $ (Round to the nearest cent.)Anna is buying a house selling for $235,000. To obtain the mortgage, Anna is required to make a 15% down payment. Anna obtains a 25-year mortgage with an interest rate of 5%. a) Determine the amount of the required down payment. b) Determine the amount of the mortgage. c) Determine the monthly payment for principal and interest Number of Years Rate_% 10 15 20 25 303.0 $9.65067 $6.90582 $5.54598 $4.74211 $4.216043.5 9.88859 7.14883 5.79960 5.00624 4.490454.0 10.12451 7.39688 6.05980 5.27837 4.774154.5 10.36384 7.64993 6.32649 5.55832 5.066855.0 10.60655 7.90794 6.59956 5.84590 5.368225.5 10.85263 8.17083 6.87887 6.14087 5.677896.0 11.10205 8.43857 7.16431 6.44301 5.995516.5 11.35480 8.71107 7.45573 6.75207 6.320687.0 11.61085 8.98828 7.75299 7.06779 6.653027.5 11.87018 9.27012 8.05593 7.38991 6.992158.0 12.13276 9.55652 8.36440 7.71816 7.337658.5 12.39857 9.84740 8.67823 8.05227 7.689139.0 12.66758 10.14267 8.99726 8.39196 8.046239.5…