Dave and his Partner decide to buy a house price of $730,000. they put 20% down, and their mortgage is 4.98 compounded monthly amortized over 25 years. what is thier monthly payment?

Q: 7. John and Yuki want to buy a three-bedroom semi-detached house that currently sells for $725900.…

A: Given: Cost of house = $725,900 Property taxes = $3,500 Down payment rate = 12%

Q: Frank and Fatima decide they will buy a two-bedroom garden-suite, with a 5750,000 mortgage from…

A: Principal (p)= $750,000 Rate (r)= 2.7% Time (t)= 5 years

Q: Suzan Long is considering buying a home for$350,000.(a) If she makes a down payment of $50,000…

A: In this problem, a person purchases a home for $350,000 and make down payment of $50,000. The…

Q: s are purchasing a $240,000 home with a 30-year fixed mortgage at an APR of 4.5%. They made a 10%…

A: Mortgages are paid by the monthly payments that carry the payment for the loan and interest rate.…

Q: You just bought a house for $334, 000 with a 12% down payment. The remainder is financed by a fully…

A: Cost of the house = $334,000Down payment = $334,000 x 12% = $ 40,080Loan amount = cost of the house…

Q: Shaun and Kelsey decide they will buy a three-bedroom condo, with a $1,150,000 mortgage from Royal…

A: Shaun and Kelsey decided to mortgage = $1150000 from Royal trust Amortization = 25 years The…

Q: Daniel and Michael are buying a home for $800000. They make a down payment of 30% and finance the…

A: A mortgage refers to a loan availed against the purchase of a house. The lender charges an interest…

Q: Ann wants to buy an office building which costs $2,000,000. She obtains a 30 year Interest Only…

A: Amortization refers to the regular and equal repayment of loan amount spread over the period of time…

Q: Roger and Susan are negotiating a mortgage on a new home. They have decided that the maximum…

A: Mortgage loans are secured loan and payble by easy monthly installments that carry the payment for…

Q: 2. I decided to buy a house for $289,900. I have enough in savings to put 10% down on the house and…

A:

Q: Dottie wants to buy a 150,000 house and puts a down payment of 60,000. He makes monthly payments for…

A: Given:

Q: A family wants to purchase a house that costs $135,000. They plan to take out a $125,000 mortgage on…

A: A mortgage is a loan on a property where the collateral is the property itself.

Q: Fatzamata and Maggie have $30,000 for a down payment on a future house. Their budget can accomodate…

A: Given: Amount available for downpayment : $30,000 Monthly mortgage payment: $1200 The amount owed to…

Q: Katie and Axel are taking out a $250,000 mortgage at 3.5% compounded semi-annually. Axel wants to…

A: Loan amount =250000 interest rate =3.5% compounding semiannual  semiannual interest =1.75% Period…

Q: Maria and John have found a house that has a selling price of $300,000.  They will make a 20% down…

A: Mortgage payments are the monthly payments of the loan amount borrowed for a certain period of time.…

Q: Angelina is buying a home for $208,000. She has a $37,000 down payment and the bank b offered her a…

A: Loans are paid by the monthly payments and these are equal monthly installments and these carry the…

Q: A woman buys a house for $265,000. She pays $70,000 down and takes out a mortgage at 6.6% on the…

A: Mortgage amortization refers to a schedule which is prepared to shows the periodic loan payments,…

Q: Ken wants to remodel his basement and he wants to pay back no more than $18,000. If he gets a low…

A: Given Information, Payment made after 3 years =$18,000 Interest rate =0.0375/2=0.01875(As the period…

Q: The McDaniel family is purchasing a home, and their mortgage. The home costs $156,000 and they have…

A: First we need to use loanbsp;loan amotorization formula below to calculate monthly payment.  where…

Q: (6) Marian has just purchased a house. She has a $400,000, 20-year mortgage with interest at an…

A: Loan Amount = 400,000 Time Period = 20 years or 240 months Rate = 4.5% Continuous Compounding

Q: Jennifer buys a $300,000 house and pays $100,000 down. The loan is for 30 years and is at 4%…

A: Monthly payments is calculated by present value of annuity formula. r is interest rate and n is…

Q: A couple requires a mortgage loan of $182,000. They figure they can afford $1400 a month. If they…

A: A mortgage refers to a covered loan that is taken out for the purchase of a property which itself…

Q: Maria and John have been renting a small apartment but decide to purchase a house. The one they have…

A: Given information: Selling price: $300,000 Down payment : 20% Annual interest rate: 3.125% Time…

Q: . Find the monthly payment (including taxes and insurance). U

A: Information Provided: Downpayment = 20% Amount = $310,000 Interest rate = 4% Term = 360 years Taxes…

Q: . Ji-Hoon wants to get a $500,000 3% 30-year mortgage in order to buy his first home. How much…

A: Loan amount (PV) = $500,000 Interest rate = 3% Monthly interest rate (r) = 3%/12 = 0.25% Period = 30…

Q: offered her a 30-year fixed rate mortgage at 5.83%. What will be Angelina's monthly mortgage…

A: Information Provided: Home cost = $417,000 Down payment = $26,000 Interest rate = 5.83% Years = 30…

Q: Bill and Susan bought a home for $190,000 and made a 20% down payment. They got a fixed mortgage at…

A: Computation as follows: Hence, the monthly payment is $881.54.

Q: Josh and Samantha have been renting a small apartment and have now decided that they are ready to…

A:

Q: Anna and Bob have decided to buy an apartment. The cost of the apartment is RM150,000. They can get…

A: Monthly mortgage payment will depend on the amount of loan, interest rate and the payment period.…

Q: A couple want to buy a house that costs $542 000. They pay a 20% deposit and borrow the rest of the…

A: House value = $542,000 Loan amount (P) = House value * (1 - Down payment) Loan amount (P) = $542,000…

Q: A couple completely owns one home but is purchasing a second home for $120,000. They will put down…

A: Since more than one question are posted at a time the answer for first question is only provided as…

Q: Brayden and Noah plan to purchase a home for $140,000. They will pay 20% down and finance the…

A: An annuity is a series of cash flows that involve an equivalent amount occurring at equal time…

Q: An investor plans to purchase a 2-bedroom condo in San Francisco. The price of the property is…

A: A loan is taken after giving the down payment. Mortgage payment on the loan amount will be received…

Q: Assume Ron and his wife Julie, two young professionals, just bought a house for $600,000. They made…

A: A mortgage refers to a covered loan borrowed for the purchase or maintenance of a property with the…

Q: Cindy and Rick purchased a home for $145,000 and financed it with a 30-year fixed-rate loan at 6.25%…

A: Introduction Mortgage Loan: A mortgage is a loan that a borrower takes out to buy or retain a house…

Q: 5. Hussein is purchasing a home for OMR200000. Me is making a 20% down payment and will sign a…

A: Given information The Purchase amount of Home = OMR 2,00,000 Down Payment = 20% ,Remaining Amount of…

Q: A year ago, a newly married couple decided not to buy a house, and they were looking at a house with…

A: Since you have posted a question with multiple sub parts, as per answering guidelines we shall be…

Q: arnie and beth litner recently bought a house for $425,000. They put 10% down as a down payment and…

A: The answer to the given question has been provided below in a detailed manner along with all the…

Q: A family buys a house worth $326,000. They pay a $75,000 deposit and take a mortgage for the balance…

A: Amortized loan: In this type of loan, the borrower makes periodic payments of loan and the payments…

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.