A couple buys a $300000 home, making a down payment of 22%. The couple finances the purchase with a 15 year mortgage at an annual rate of 3.63%. Find the monthly payment. per month. If the couple decides to increase their monthly payment to $1850, find the number of payments. payments (give 2 decimal places) which we would round up to total payments.
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- A couple buys a $190000 home, making a down payment of 19%. The couple finances the purchase with a 15 year mortgage at an annual rate of 3.84%. Find the monthly payment.If the couple decides to increase the monthly payment to $1200, find the number of payments.A couple take a 30-year home mortgage of $120,000 at 7.8% compounded monthly. They make their regular monthly payments for 5 years, then decide to pay $1000 per month. a. Find their regular monthly payment. b. Findtheunpaidbalancewhentheybeginpayingthe$1000. c. How many payments of $1000 will it take to pay off the loan? Give the answer correct to one decimal place. d. Use your answer to part(c)to find how much interest they save by paying the loan this way.A couple buys $160000 home, making a down payment of 17%. The couple finances the purchase with a 15 year mortgage at an annual rate of 2.64%. Find the monthly payment. If the couple decides to increase the monthly payment to $900, fine the number of payments.
- A couple plans to purchase a vacation home. The bank requires a 5% down payment on the $230,000 vacation home. The couple will finance the rest of the cost with a fixed-rate mortgage at 6% annual interest with monthly payments over 30 years. Complete the parts below. Do not round any intermediate computations. Round your final answers to the nearest cent if necessary. If necessary, refer to the list of financial formulas. (a) Find the required down payment. s (b) Find the amount of the mortgage. s (c) Find the monthly payment. $0A couple requires a mortgage loan of $182,000. They figure they can afford $1400 a month. If they find a mortgage paying j2 = 7.5%, how many full monthly payments will be required and what will be the size of the smaller concluding payment?Jim and Joan Miller are borrowing $120,000 at 6.5% per annum compounded monthly for 30 years to purchase a home. Their monthly payment is determined to be $758.48. You need to present Jim and Joan with a report detailing the following: A recursive formula for their balance after each monthly payment has been made. A determination of Jim and Joan's balance after the first payment. Use a spreadsheet or graphing utility to create a table showing their balance after each monthly payment. Determine when the balance will be below $75,000. Determine when the balance will be paid off. Determine the interest expense when the loan is paid.
- Find the monthly payment for each loan below. Remember to assume monthly compounding. 11. Sean and Sam purchase a house with a $20,000 down payment. The purchase price of the house was $475,000 and they financed the rest for 3.75% for 30 years. Their annual taxes will be $2856, and their annual insurance will be $1984. What will their monthly principal, interest, tax, and insurance (PITI) mortgage payment be?A couple plans to purchase a house. The bank requires a 20% down payment on the $470,000 house. The couple will finance the rest of the cost with a fixed- rate mortgage at 3% annual interest with monthly payments over 30 years. Complete the parts below. Do not round any intermediate computations. Round your final answers to the nearest cent if necessary. If necessary, refer to the list of financial formulas (a) Find the required down payment. $ (b) Find the amount of the mortgage. $0 (c) Find the monthly payment. $The 2020 Arizona graduated tax rate is given in the table below for those filing status is single or married filing separate. To use this table you will calculate the amount of money to be taxed at each level and then sum up the amount for each given tax rate. Find the income tax for a person filing single and has a taxable income reported as $90,800. Round your answer to the nearest whole dollar amount. Income Tax Rate The income between $0 and $27,272 The income between $27,272 and $54,544 3.34% The income between $54,544 and $163,6324.17% The income above $163,632 2.59% 4.50%