Craig Hammer purchased a new condominium for $225,000. The bank required a $30,000 down payment. Assuming a rate of 8% on a 25-year mortgage, Craig's monthly payment is: Multiple Choice   $1,650.97   $1,430.84   $1,505.04   $1,736.59

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Marsha Terban bought a home for $119,000 with a down payment of $19,000. Her rate of interest is 12 1/2% for 35 years. The balance of the mortgage at the end of the first month is: Multiple Choice   $117,744.25   $118,983.83   $99,669.76   $99,986.42

Mike Jones bought a new split-level home for $150,000 with 20% down. He decided to use Quicken Loans for his mortgage. Quicken was offering 3 3/4%  for 25-year mortgages. Provide Mike with an amortization schedule for three periods. (Use Table 15.1) Note: Do not round intermediate calculations. Round your answers to the nearest cent.   Payment number Portion to interest Portion to principal Balance of loan outstanding 1   241.96 $119,758.04 2       3   243.47   TABLE 15.1 Amortization table (mortgage principal and interest per $1,000) Rate Interest Only 10 Year 15 Year 20 Year 25 Year 30 Year 40 Year 2.000 0.16667 9.20135 6.43509 5.05883 4.23854 3.69619 3.02826 2.125 0.17708 9.25743 6.49281 5.11825 4.29966 3.75902 3.09444 2.250 0.18750 9.31374 6.55085 5.17808 4.36131 3.82246 3.16142 2.375 0.19792 9.37026 6.60921 5.23834 4.42348 3.88653 3.22921 2.500 0.20833 9.42699 6.66789 5.29903 4.48617 3.95121 3.29778 2.625 0.21875 9.48394 6.72689 5.36014 4.54938 4.01651…

Yara owns a home that was recently appraised for $181,000. The balance on the existing mortgage is $84,200. If Yara's bank is willing to loan up to 73% of the appraised value, find the potential amount of credit available on a home equity loan. O $47,930 O $61,466 O $96,800 $132,130 * O 0 o o

Please help complete in the same format.

The Fritzes are buying a house that sells for $107,000. The bank is requiring a minimum down payment of 20%. To obtain a 40-year mortgage at 9.5% interest, they must pay 4 points at the time of closing. a) Determine the required down payment. b) Determine the amount of the mortgage on the property with the 20% down payment. c) Find the cost of 4 points on the mortgage. a) The required down payment is S

A couple decides to switch from monthly to accelerated weekly payments on their 20-year $250,000 5% fixed-rate mortgage. How much total interest would they save? Round to the nearest dollar. a) $15,560 b) $20,793 c) $21,499 d) $24,872

Jack takes out a mortgage for $725,000 at an interest rate of i(2) = 7.250%. The amortization period is 30 years. What is his weekly payment? a. $1,182.96 b. $1,126.62 C. $923.83 d. $1,171.69 e. $957.63