a) Determine 28% of the Adeeva's adjusted monthly income. $(Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxes, and homeowners' insurance. (Round to the nearest cent.) c) Do they qualify for this mortgage? O Yes O No
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- The Adeeva's gross monthly income is $7400. They have 18 remaining payments of $270 on a new car. They are applying for a 15-year, $162,000 mortgage at 7.5%. The taxes and insurance on the house are $260 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. Click here for table of Monthly Payments a) Determine 28% of the Adeeva's adjusted monthly income. Monthly Principal and Interest Payment per $1000 of Mortgage $ (Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxes, and homeowners' insurance. $ (Round to the nearest cent.) Number of Years Rate % 10 15 20 25 30 c) Do they qualify for this mortgage? $5.27837 $4.77415 4.0 $10.12451 $7.39688 $6.05980 4.5 10.36384 7.64993 6.32649 5.55832 5.06685 No 5.0 10.60655 7.90794 6.59956 5.84590 5.36822 5.5…The Adeeva's gross monthly income is $3600. They have 18 remaining payments of $370 on a new car. They are applying for a 20-year, $39,000 mortgage at 7.0%. The taxes and insurance on the house are $460 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. Complete parts (a) through (c) below. Click the icon to view the table of monthly payments. ... a) Determine 28% of the Adeeva's adjusted monthly income. (Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxes, and homeowners' insurance. $ (Round to the nearest cent.) c) Do they qualify for this mortgage?. O No O YesThe Adeeva's gross monthly income is $4200. They have 18 remaining payments of $370 on a new car. They are applying for a 30-year, $122,000 mortgage at 6.5%. The taxes and insurance on the house are $370 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. Complete parts (a) through (c) below. E Click the icon to view the table of monthly payments. a) Determine 28% of the Adeeva's adjusted monthly income. $ (Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxes, and homeowners' insurance. $ (Round to the nearest cent.) c) Do they qualify for this mortgage? O No O Yes
- The Adeeva's gross monthly income is $5200. They have 18 remaining payments of $350 on a new car. They are applying for a 15-year, $119,000 mortgage at 7.5%. The taxes and insurance on the house are $270 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. Complete parts (a) through (c) below. a) Determine 28% of the Adeeva's adjusted monthly income. round to nearest centThe Adeeva's gross monthly income is $4200. They have 18 remaining payments of $210 on a new car. They are applying for a 20-year, $103,000 mortgage at 7.0%.The taxes and insurance on the house are $340 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income. a) Determine 28% of the Adeeva's adjusted monthly income.(Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payement,including principal,interest,taxes, and homeowners insurance. c) Do they qualify for this mortgage?Rafaela has a gross monthly income of $3,900. She has 15 remaining payments of $189 on a used car. The taxes and insurance on a house Rafaela may purchase are $115 per month. What maximum monthly payment does the bank's loan officer feel that Rafaela can afford? The maximum monthly payment includes principal and interest for the amount of the loan as well as the taxes and insurance. Round your answer to the nearest cent.
- Carissa wishes to borrow $280,000. Lender A qualifies her for a rate of 4.59% over a 30-year term, and Lender B will give her 3.2% for a 20-year loan. Excluding taxes, insurance and all other charges, find the 3. amount of the loan payment for each. Round your answer to the nearest whole dollar.Brad and Sam take a 30-year mortgage for a house that costs $126,601. Assume the following: The annual interest rate on the mortgage is 4.8%. The bank requires a minimum down payment of 20% of the cost of the house. The annual property tax is 1.8% of the cost of the house. The annual homeowner's insurance is $524. There is no PMI. If they make the minimum down payment, what will their monthly PITI be?Carol borrows $30, 000 from the bank. For a six-year loan, the bank requires annual end-of-year payments of $5, 878.05. The annual interest rate on the loan is?
- please answer with correct calculations and explanations. QUESTION: Kari is purchasing a home for $220,000. The down payment is 25% and the balance will be financed with a year mortgage at 8% and 4 discount points. Kari made a deposit of $30,000 (applied to the doen payment) when the sales contract was signed. Kari also has three expenses: credit report, $70; appraisal fee, $110; title insurance premium, 1% of amount financed; title search, $200; and attorney's fees, $500. Find the closing costs (in $).Kathy borrows $10,000 from the bank. For a four year loan, the bank requires annual end of year payments of $3,223.73. The annual interest rate on the loan isA couple wants to purchase a $260,000 house, and they have the required 20% down payment and money for other closing costs. The bank is offering a 30-year mortgage at 4.625% interest, compounded monthly. The couple has an annual after-tax income of $55,000 and other debts totaling $650 per month. (a) If the maximum debt-to-income ratio (total monthly debt divided by after-tax monthly income) is 43%, can the couple afford to purchase the home? (b) If the couple lives in the house for 30 years, what is the total amount paid for the house, including down payment, principal, and interest?