Using percentages, multiplication, rounding, tmv finance calculator. 5 questions below. Thank you!! annuities and loans
You want to buy a $197,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
S
b) What will your monthly payments be if the interest rate is 5%?
S
c) What will your monthly payments be if the interest rate is 6%?
S
You want to take out a $122,000 mortgage (home loan). The interest rate on the loan is 5.2%, and the loan is for 30 years. Your monthly payments are $669.92.
How much will still be owed after making payments for 5 years? $
How much will still be owed after making payments for 15 years? $
How much will still be owed after making payments for 20 years? $
You want to buy a $203,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
S
b) What will your monthly payments be if the interest rate is 6%?
S
c) What will your monthly payments be if the interest rate is 7%?
S
Jenelle bought a home for $360,000, paying 20% as a down payment, and financing the rest at 4.6% interest for 30 years. Round your answers to the nearest cent.
How much money did Jenelle pay as a down payment? $
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What was the original amount financed? $
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What is her monthly payment? S
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If Jenelle makes these payments every month for thirty years, determine the total amount of money she will spend on this home. Include the down payment in your answer. $
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Suppose you invest $120 a month for 5 years into an account earning 9% compounded monthly. After 5 years, you leave the money, without making additional deposits, in the account for another 28 years.
How much will you have in the end?
s
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