You are considering the purchase of a condominium to use as a rental property. You estimate that you can rent the condominium for $1,100 per month and that taxes, insurance, and maintenance costs will run about $100 per month. If interest rates are 6% compounded monthly, how large a 25-year mortgage can you assume and still have the rental income cover the monthly expenses? The mortgage is $124123.64. (Round to the nearest cent as needed.)

Suppose you obtain a 30-year mortgage loan of $193,000 at an annual interest rate of 8.6%. The annual property tax bill is $974 and the annual fire insurance premium is $496. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent.)$ ??

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 6.75 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 150th 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 C. Amount of interest Amount of principal d. Amount of interest paid Amount

You are considering purchasing a new home. You will need to borrow $280,000 to purchase the home. A mortgage company offers you a 20-year fixed rate mortgage (240 months) at 9% APR (0.75% month). If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to: O A. $2,015 В. $3,527 C. $4,030 D. $2,519