The price of a home is 195,000. The bank requires a 10% down payment and two points at the time of closing. The cost of the home is financed with 30-year fixed-rate mortgage at 7.5%. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the two points at the closing?
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- You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how much will you have in the bank after one year? Calculate the amount you will have in the bank at the end of year two and continue to calculate all the way to the end of the third year. B. Use the future value of $1 table In Appendix B and verify that your answer is correct.Use PMT= to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $230,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 30-year foxed-rate mortgage at 6.5%. Complete parts (a) through (e) below. a. Find the required down payment. $ 46,000 b. Find the amount of the mortgage.The price of a home is $227,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 30-year fixed-rate mortgage at 7.5%. a.Find the required down payment. b.Find the amount of the mortgage.
- to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $173,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is Time Remaining: 01:37:36 Use PMT= financed with a 30-year fixed-rate mortgage at 8%. Complete parts (a) through (e) below. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? $ (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). $(Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. $(Round to the nearest dollar as needed.).The price of a home is $180,000. The bank requires a 5% down payment and one pointat the time of closing. The cost of the condominium is financed with a 30-year fixed-rate mortgage at 8%. (Round all answers to the nearest cent)a. Find the required down payment.b. Find the amount of the mortgage.c. How much must be paid for one point at closing?d. Find the monthly payment.e. Find the total cost of interest over 30 years.Use PMT = to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $181,000. The bank requires a 20% down payment and three points at the time of closing. The cost of 1- the horme is financed with a 30-year fixed-rate mortgage at 7.5%. Complete parts (a) through (e) below. a. Find the required down payment. b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? $ (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). $ (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. $ (Round to the nearest dollar as needed.) Next MacBook Air 8884 %23 24 % & * 2 3 4 5 6 8. 9. R. T Y D K F. S'
- The price of a condominium is $127,000. The bank requires a 5% down payment and one point at the time of closing. The cost of the condominium is financed with a 30-year fixed-rate mortgage at 6.5%. a. Find the required down payment. b. Find the amount of the mortgage. c. How much most be paid for the one point at closing? d. Find the monthly payment (excluding escrowed taxes and insurance).PA Use PMT= to determine the regular payment amount, rounded to the nearest dollar. The price of a home is $217,000. The bank requires a 20% down payment and three points at the time of closing. The cost of the home is financed with a 30-year fixed-rate mortgage at 7%. Complete parts (a) through (e) below. a. Find the required down payment. $ b. Find the amount of the mortgage. c. How much must be paid for the three points at closing? S (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). S (Round to the nearest dollar as needed.) e. Find the total cost of interest over 30 years. (Round to the nearest dollar as needed.)The price of a home on a particular island is $1,000,000. The bank requires a 15% down payment and 3 points at the time of closing. The cost of the home is financed with a 30-year fixed rate at 8%. (a) Find the required down payment. (b) Find the amount of the mortgage. (c) Find the amount that must be paid for the 3 points at closing. (d) Find the monthly payment. (e) Find the total cost of interest over 30 years. (Round to the nearest dollar. For example, $247)
- The price of a home is $210,000. The bank requires a 15% down payment and one point at the time of closing. The cost of the home is financed with a 30-year fixed-rate mortgage at 6.5%. ( Round to the nearst dollar) a. Find the required down payment. b. Find the amount of the mortgage. c. Find the monthly payment for the loan. d. Find the total cost of interest over 30 years.The price of a condominium is $187,.000. The bank requires a 5% down payment and one point at the time of closing. The cost of the condominium is financed with a 30-year fixed-rate mortgage at 6.5%. Use the following formula to determine the regular payment amount. Complete parts (a) through (e) below. P. PMT = nt7 a. Find the required down payment. b. Find the amount of the mortgage. $4 c. How much must be paid for the one point at closing? $4 (Round to the nearest dollar as needed.) d. Find the monthly payment (excluding escrowed taxes and insurance). $4 (Round to the nearest dollar as needed.) Enter your answer in each of the answer boxes. 9:56 PM 82°F Partly cloudy ^ 6/30/2021 99+ O Type here to search DELL PgDn Home Delete PrtScr Insert F11 F12 F9 F10 F7 F8 F5 F6 F2 F3 F4 Num Lock Esc F1 Backspace & 林 %24 8. 3. 4. 6. R WE Enter K L F 會The price of a home is $220,000. The bank requires a 20% down payment and one point at the time of closing. The cost of the home is financed with a 30-year fixed-rate mortgage at 6.5%. a. required down payment. b. amount of the mortgage. c. monthly payment for the loan. d. total cost of interest over 30 years.