You need a loan of ​$175,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices.   Choice​ 1: 30​-year fixed rate at 7​% with closing costs of ​$1400 and no points. Choice​ 2: 30​-year fixed rate at 6.5​% with closing costs of ​$1400 and 2 points.   What is the monthly payment for choice 1?  What is the monthy Payment for choice 2?  What is the closing paymennt for choice 1?  What is the closing paymennt for choice 2?

a purchaser makes a 20% down payment on a new home and obtains a loan for the balance. The lender charges two discount points which equals 1000. what was the sale price of the house?     I would like a break down on how to obtain the answer

You need a loan of ​$110,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. = Choice​ 1: 15​-year fixed rate at 4​% with closing costs of​$1600 and no points. Choice​ 2: 15​-year fixed rate at 3.5​% with closing costs of​$1600 and 3 points. What is the monthly payment for choice​ 1? $_______ ​(Do not round until the final answer. Then round to the nearest cent as​ needed.) What is the monthly payment for choice​ 2? $_____ ​(Do not round until the final answer. Then round to the nearest cent as​ needed.)   What is the total closing cost for choice​ 1? $_____ What is the total closing cost for choice​ 2? $_____   Why might choice 1 be the better​ choice? A.The monthly payment is lower. B. The closing costs are lower. C. The monthly payment is higher. D. The closing costs are higher.   Why might choice 2 be the better​ choice? A. The closing costs are lower. B. The monthly payment is lower C. The monthly payment is higher. D. The closing…

You want to buy a house that costs $290,000. You will make a down payment equal to 10 percent of the price of the house and finance the remainder with a loan that has an APR of 5.51 percent compounded monthly. If the loan is for 20 years, what are your monthly mortgage payments? Group of answer choices $1,736.96 $1,886.70 $1,821.54 $1,796.86 $1,788.65

Please show how to solve this unsing excel and please show all formulas in the spreadsheet. You decide to buy a house with price of $500,000, You put 20% down payment and consider a 15-year fixed rate mortgage to pay the remaining balance. The lender offers you three choices of the mortgage with monthly payments shown in the table as a., b., and c. Assume that the origination cost is $8,000. A. If the loan will be outstanding for 15 years, what is the effective cost for each choice? Which choice is most ideal? explain? B. Which mortgage choices are not properly priced? explain?

← You need a loan of $150,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices. Choice 1: 20-year fixed rate at 6% with closing costs of $2900 and no points. Choice 2: 20-year fixed rate at 5.5% with closing costs of $2900 and 4 points. What is the monthly payment for choice 1? A (Do not round until the final answer. Then round to the nearest cent as needed.)

You want to buy a motorcycle from JD. The cost is $20,000,$2,000 down and the rest in three equal annual payment beginning one year from today. Interest is included in the payments at 10% . How much are the payments? Amortize the loan.

Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $80,000 loan. Option 1: a 30-year loan at an APR of 8.15%. Option 2: a 15-year loan at an APR of 7.75%. Question content area bottom Part 1 Find the monthly payment for each option. The monthly payment for option 1 is $ enter your response here. The monthly payment for option 2 is $ enter your response here.

Assume you need a $87,000.00 loan for a home. Compute the monthly payment for each option. Assume that the loans are fixed rate and that closing costs are the same in both cases. Round to the nearest penny.Option 1: a 30 year-loan at an APR of 7.25%The monthly payment for Option 1 would be $.Option 2: a 15 year-loan at an APR of 6.5%The monthly payment for Option 2 would be $

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