subject
Mathematics, 04.06.2020 19:11 lillianmitchell580

You are ready to buy a house, and you have $31,000 for a down payment and closing costs. Closing costs are estimated to be 4% of the loan value. You have an annual salary of $36,000, and the bank is willing to allow your monthly mortgage payment to be equal to 28% of your monthly income. The interest rate on the loan is 6% per year with monthly compounding (0.5% per month) for a 30-year fixed rate loan. How much money will the bank loan you?

ansver
Answers: 1

Another question on Mathematics

question
Mathematics, 21.06.2019 12:30
Jackson drew 4 hearts and 29 circles. what is the ratio of circles to all shapes?
Answers: 1
question
Mathematics, 21.06.2019 13:40
/is used for a fraction 1) if x = 2/3 and y = 3/4, what is the value of (x + y) (x/y) expressed as a common fraction? 2) what is the least positive integer greater than 1 that leaves a remainder of 1 when divided by each of 2, 3, 4, 5, 6, 7, 8, and 9? 3) the ponde family's powerjet pumps 420 gallons of water per hour. at this rate, how many gallons of water will it pump in 45 minutes? 4) kim's insurance company pays 80% of the cost of all prescription medication she purchases in a year beyond the first $250 worth of prescriptions. her prescriptions for this year cost a total of $570. how many dollars of this amounts will kim's insurance company pay?
Answers: 1
question
Mathematics, 21.06.2019 18:00
What is the measure of angle tvu shown in the diagram below
Answers: 2
question
Mathematics, 21.06.2019 18:30
Write the rational number in lowest terms 99/-15
Answers: 2
You know the right answer?
You are ready to buy a house, and you have $31,000 for a down payment and closing costs. Closing cos...
Questions
question
Mathematics, 07.12.2021 18:50
question
Computers and Technology, 07.12.2021 18:50
question
Mathematics, 07.12.2021 18:50
Questions on the website: 13722367