You are thinking of purchasing a house. The house costs $400,000. You have $57,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase pr The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 8% per year What will be your annual payment if you sign this mortgage? The annual payment is $(Round to the nearest dolar)
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- You are thinking of purchasing a house. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 7% per year. What will be your annual payment if you sign this mortgage? The annual payment is $__________________________ (Round to the nearest dollar.)You are thinking of purchasing a house. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 9% per year. What will be your annual payment if you sign this mortgage? The annual payment is $ (Round to the nearest dollar)You are thinking of purchasing a house. The house costs $309,000. You have $55,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 25-year mortgage that requires annual payments and has an interest rate of 10% per year. What will be your annual payment if you sign this mortgage? The annual payment will be $. (Round to the nearest cent.)
- You are thinking of purchasing a house. The house costs $ 431,000. You have $ 45,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 20-year mortgage that requires annual payments and has an interest rate of 4 % per year. What will be your annual payment if you sign this mortgage?K You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 5% per year. What will be your annual payment if you sign this mortgage? The annual payment is $ (Round to the nearest dollar.)You are thinking of purchasing a house. The house costs $250,000. You have $25,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 15-year mortgage that requires MONTHLY (not annual) payments and has an interest rate of 12% per year. What will be your monthly payment if you sign this mortgage? The monthly (not annual) payment will be $ (Round to the nearest cent.)
- You need a 30-year, fixed-rate mortgage to buy a new home for $400,000. Your mortgage bank will lend you the money at a 6 percent APR for a 360 month loan. You can only afford a monthly payment of $1000. How much downpayment should you put at the time of purchase? how would i calculate this in excel?You have just made an offer on a new home and are seeking a mortgage. You need to borrow $600,000. The bank offers a 30-year mortgage with fixed monthly payments and an interest rate of 0.5% per month. What is the amount of your monthly payment if you take this loan? Alternatively, you can get a 15-year mortgage with fixed monthly payments and an interest rate of 0.4% per month. How much would your monthly payments be if you take this loan instead?You are planning to purchase a house that will require some renovations. 1. You will have a $400,000 mortgage for 20 years at the rate of 4.25%. What will yourmonthly payment be?2. If you take the full term of the loan, how much interest will you have paid?3. You decide to do some remodeling. You are looking at borrowing $7500 at the simpleinterest rate of 2% per year. You want to pay a maximum of $600 interest. How longwill the loan need to be to meet this maximum interest of $600.00?4. If you decide to put a $3000.00 bonus from your employment in a savings account thatpays 2% interest compounded monthly, how much interest would you have earnedafter 4 years?
- You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 15-year mortgage at 3.25% annual interest rate for the cost of the house after they receive a 20% down payment. How much interest will they have paid?Suppose you are buying a house. You find the perfect one for $215,000. The bank offers you a 30-year fixed rate mortgage with 6.25% interest, compounded monthly. A. If you finance the entire amount (no down payment), what will your monthly payments be? B. Suppose you decide to make a down payment of 20% of the cost of the house. How much is your down payment? C. With the 20% down payment, how much will your monthly payments be? D. How much will you have paid on the mortgage at the end of 30 years in the different situations?You have just made an offer on a new home and are seeking a mortgage. You need to borrow $620,000. a. The bank offers a 30-year mortgage with fixed monthly payments and an interest rate of 0.53% per month. What is the amount of your monthly payment if you take this loan? b. Suppose you take the 30-year mortgage described in part (a). How much will you still owe on the mortgage after 10 years? a. The bank offers a 30-year mortgage with fixed monthly payments and an interest rate of 0.53% per month. What is the amount of your monthly payment if you take this loan? Your monthly payment will be $nothing. (Round to the nearest cent.) b. Suppose you take the 30-year mortgage described in part (a). How much will you still owe on the mortgage after 10 years? The remaining loan amount will be $nothing.