Mathematics, 08.04.2021 17:10 dilu76
1.) Neila and Gary Penn own a brick home with a market value and replacement value of
$150,000. They insured their home for 100 percent of its replacement value. The Penns live in an
area where the rate of assessment is 35 percent, the tax rate is 51.58 mills, and the fire protection
is rated class 6. They have a $120,000 mortgage at 8 percent for 20 years.
a. How much is the monthly mortgage payment?
b. How much is the real estate taxes?
c. How much is the insurance?
Answers: 1
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1.) Neila and Gary Penn own a brick home with a market value and replacement value of
$150,000. The...
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