Question

You want to buy a $245,000 home. You plan to pay 10% as a down
payment, and take out a 30 year loan for the rest.

a) How much is the loan amount going to be?

$

b) What will your monthly payments be if the interest rate is
5%?

$

c) What will your monthly payments be if the interest rate is
6%?

$

Answer #1

Answer a)

Net Loan = House Price - Down Payment

= 245000 - 10% * 245000

= 220500

Answe b)

EMI =

r is the rate of interest for a compounding period i.e. 0.05/ 12 = 0.00416666666

n is the no of compoundind period i.e. 30years * 12 = 360 months

=

= 1183.69

Answe c)

EMI =

r is the rate of interest for a compounding period i.e. 0.06/ 12 = 0.005

n is the no of compoundind period i.e. 30years * 12 = 360 months

=

= 1322

You want to buy a $258,000 home. You plan to pay 10% as a down
payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to?
b) What will your monthly payments be if the interest rate is
6%?
c) What will your monthly payments be if the interest rate is
7%?

You want to buy a $205,000 home. You plan to pay 10% as a down
payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
$
b) What will your monthly payments be if the interest rate is
5%?
$
c) What will your monthly payments be if the interest rate is
6%?
$

You
want to buy a home for $207,000. Your plan to pay 10% as a down
payment, and take out a 30 year loan for the rest.
How much is the amount going to be?
what will the monthly payments be if the interest rate is at
5%?
What will your monthly payments be if the interest rate is
6%?

You want to buy a $209,000 home. You plan to pay 5% as a down
payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
b) What will your monthly payments be if the interest rate is
6%?
c) What will your monthly payments be if the interest rate is
7%?

You want to buy a $231,000 home. You plan to pay 20% as a down
payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be? $
b) What will your monthly payments be if the interest rate is
5%? $
c) What will your monthly payments be if the interest rate is
6%? $

You want to buy a $213,000 home. You plan to pay 20% as a down
payment, and take out a 30 year loan for the rest. a) How much is
the loan amount going to be? $ b) What will your monthly payments
be if the interest rate is 5%? $ c) What will your monthly payments
be if the interest rate is 6%?

You want to buy a $186,000 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? $ b) What will your
monthly payments be if the interest rate is 5%? $ c) What will your
monthly payments be if the interest rate is 6%?

You want to buy a $247,000 home. You plan to pay 5% as a down
payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
$
b) What will your monthly payments be if the interest rate is
6%?
$
c) What will your monthly payments be if the interest rate is
7%?

You want to buy a $247,000 home. You plan to pay 5% as a down
payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
$
b) What will your monthly payments be if the interest rate is
6%?
$
c) What will your monthly payments be if the interest rate is
7%?
$

You want to buy a $257,000 home. You plan to pay 10% as a down
payment, and take out a 30 year fixed loan for the rest.
Round all answers to the nearest cent as needed.
a) How much is the loan amount going to be?
$
b) What will your monthly payments be if the interest rate is
4.2%?
$
c) What will your monthly payments be if the interest rate is
5.2%?
$

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 10 minutes ago

asked 36 minutes ago

asked 41 minutes ago

asked 56 minutes ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago