Suppose you obtain a 30-year mortgage loan of $194, 000 at an annual interest rate of 8.6%. The annual property tax bill is $972 and the annual fire insurance premium is $490. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cer
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- Suppose you obtain a 30 year mortgage loan of $193,000 at an annual interest rate of 7.8%. The annual property tax bill is $978 and tha annual fire insurance premium is $491. Find the total monthly payment for the mortgage, property tax, and fire insurance. (Round your answer to the nearest cent)You purchase a house and obtain a 30-year loan of $198,000 at an annual interest rate of 8.30%. (Round your answers to the nearest cent.) (a) What is the mortgage payment?$ (b) What is the total of the payments over the life of the loan?$ (c) Find the amount of interest paid on the mortgage loan over the 30 years.$Suppose you obtain a 30 year mortgage loan of 197,000$ at an annual interest rate of 8.1%. The annual property tax bill is $967 and the annual fire insurance premium is 495$. Find the total monthly payment for the mortgage, property tax, and fire insurance.
- Suppose you obtain a 20 year mortgage loan of 194,000$ at an annual interest rate of 8.2%. The annual property tax bill is 978$ and the annual fire insurance premium is 482$. Find the total monthly payment for the mortgage, property tax, and fire insurance. Round answer to nearest cent.Suppose you purchase a car for a total price of $21,750, including taxes and license fee, and finance that amount for 7 years at an annual interest rate of 6%. (Round your answers to the nearest cent.) (a) Find the monthly payment.$ (b) What is the total amount of interest paid over the term of the loan?$Suppose you purchase a car for a total price of $22,565 including taxes and license fee, and finance that amount for 7 years at an annual interest rate of 6%. (Round your answer to the nearest cent) a)find the monthly payment? b) what is the total amount of interest paid over the term of the loan?
- Suppose you purchase a car for a total price of $24,790 including taxes and licensee and finance that amount for five years at an annual interest rate of 6%. (Round your answer to the nearest cent) Find the monthly payment? What is the total amount of interest paid over the term of the loan?Suppose you purchase a home and obtain a 30-year fixed-rate loan of $145,000 at an annual interest rate of 7.5%. Of the second month's mortgage payment, how much is applied to the principal?Suppose you take a 15-year mortgage for a house that costs $253,368. Assume the following: The annual interest rate on the mortgage is 4.4%. The bank requires a minimum down payment of 8% of the cost of the house. The annual property tax is 1.9% of the cost of the house. The annual homeowner's insurance is $844. The monthly PMI is $55. If you make the minimum down payment, what is the minimum gross monthly salary you must earn in order to satisfy the 28% rule? Round your answer to the nearest dollar.
- Solve the problem. If necessary, use the accompanying table of monthly payments. Round your answer to the nearest cent. Find the total monthly payment, including taxes and insurance, on the following fixed-rate mortgage. Amount of loan: $105,250 Interest rate: 10% Term of loan: 25 years Annual taxes: $2821 Annual insurance: $391Suppose you purchase a car for a total price of $25,445, including taxes and license fee, and finance that amount for 4 years at an annual interest rate of 8%. Please provide step by step to find the monthly payment and what is the total amount of interest paid over the term of the loan? ThanksYou plan to purchase a $100,000 house using a 30-year mortgage obtained from your local credit union. The mortgage rate offered to you is 8.25 percent. You will make a down payment of 20 percent of the purchase price. a. Calculate your monthly payments on this mortgage. b. Calculate the amount of interest and, separately, principal paid in the 25th payment. (pls show solution)