Sarah is trying to buy a new $300,000 home and she has two financing options. The first is a 30-year loan at 6.3% interest and the second is a 15-year loan at 5.4% interest. Calculate the monthly payment and total amount of interest or each loan.

Julia has a mortgage on her house with a balance of $150,000 and the APR on the loan is 6%. She is currently paying $1.200 a month on the loan, at this rate how many years will it take to repay the loan?

Jamie is going to buy some furniture with a single payment loan that is discounted. The loan will be for $5,000 for two years at 10% interest. Calculate the APR on this loan. (Show all work.)

Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 5.7% and a monthly payment of $595.50. After 3 years, Angela decides to purchase a new car. What is the payoff on Angela's loan?

Jamie is going to buy furniture with a single-payment loan that is discounted. The loan will be for $5,000 for 2 years at 10% interest. Calculate the annual percentage rate (APR) on this loan. (Show all work.)

Marie and Danny Would like to buy a house for $220,000. The down payment for the mortgage is 30% of the price of the house. To earn the down payment, they invest $2500 a quarter at 6.2% compounded quarterly. They take a 30-year home mortgage for the rest of the price of the house at 7.3% compounded monthly. They make their regular monthly payments for 5 years, then decide to pay $2000 per month.   How much is the down payment? How long will it take Marie and Danny to earn the down payment if they invest $2500 a quarter at 6.2% compounded quarterly? How much is the loan for the mortgage? What is the regular monthly payment? What is the unpaid balance when they begin paying the $2000? How many payments of $2000 will it take to pay off the loan? Give the answer correct to wo decimal places. How much interest will they save by paying the loan this way? Use your answer from #6 to find.

Whiskers wants to buy a $600,000 house. She plans to pay $200,000 down and make monthly payments for 20 years.  If the loan has an interest rate of 5% monthly with 3 points, what is the true interest rate?

The McBertys have $20,000 in savings to use as a down payment on a new home. They also have determined that they can afford between $1,500 and $1,800 per month for mortgage payments. If the mortgage rates are 11% per year compounded monthly, what is the price range for houses they should consider for a 30-year loan? (Enter solutions from smallest to largest. Round your answers to the nearest cent.)$  to $

Tayah is considering buying a new car for which she will need to borrow $23,900. But first, as she learned in FI 3300, Tayah wants to know how much she will have to pay per month on the dealership loan. The loan that Tayah is being offered has a five-year term, requires monthly payments, and has an interest rate of 4.4% p.a. What is the required monthly payment on this loan, assuming that the first payment will be made exactly one month from today? $439.22 $438.69 $444.48 $451.87 $442.74