Mrs. Jasper has agreed to buy a home with a mortgage (loan) of $354,000. Her monthly payments are $1,550.36. After 30 years of payments, the total amount she would pay is a) $558,129.60 b) $354,000.00 c) $46,510.80 d) $18,604.32

A couple buys a $190,000home, making a down payment of 16%. The couple finances the purchase with a 15 year mortgage at an annual rate of 2.88%. Find the monthly payment. If the couple decides to increase the monthly payment to $1100, find the number of payments.

88) Kathy is buying her first home.  She is financing a total of $185,000 at an APR of 5% for 25 years. How much are her monthly payments? A) $952.33 B) $1,081.49 C) $1,441.23 D) $1,664.85 89) Juanita has determined that the PITI on the house she would like to purchase will be $1,260 per month. What is the minimum gross salary she will need to qualify for a mortgage from a reputable lender? A) $6,300 per month B) $4,500 per month C) $3,500 per month D) $5,040 per month 90) Tran currently makes $4,500 per month in gross income. He has a student loan payment of $250 per month and a car loan of $450 per month. His credit card payments average $300 per month. What is the largest PITI he could qualify for with a reputable lender? A) $620 B) $900 C) $1,260 D) $1,620 91) Bob and Mary Kay have gross household income of $7,000 per month. They both have great credit scores and the home they are interested in buying appraised higher than the selling price.…

Ephrem bought a home in Des Moines, lowa, for $335,000. He put down 15% and obtained a mortgage for 40 years at 5%2%. What is (A) Ephrem's monthly payment and (B) the total interest cost of the loan? Note: Round your answers to the nearest cent.