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Question: You want to purchase a house for $85,000, and you have $17,000 cash available for a down payment You are considering the following two financing options: Option 1: Get a new standard mortgage with 4.5% (APR) interest compounded monthly and a 30- year term. Option 2: Assume the seller's old mortgage (FHA loan) that has an interest rate of 4.0% (APR) compounded monthly, a remaining term of 25 years (from an original term of 30 years), a remaining balance of $45,578, and payments of $253.34 per month. You can obtain a second mortgage for the remaining balance, $22,422, from your credit union at 6.5% (APR) compounded monthly with a 10 year repayment period.
a) Compute the monthly payments for each option over the life of the mortgage.
b) Compute the total interest payment for each option.
Hire a similar unit for $83 per day. Based on a 10% after-tax rate of return, how many days per year must the truck be used to justify its purchase?
How to analyze a ANOVA single factor survey results? There were 30 questions asked to 35 people regarding stress factors at work.
Identify policies or regulations at the local, state, or national level that could potentially affect your business. What are the reasons for these policies or regulations
In as one moves from S9 to V9 , is the country producing more or less of the capital-intensive good and less or more of the labor-intensive good?
Apex Manufacturing charges Zenith Manufacturing with predatory pricing (that is, selling below cost). What do you think the antitrust authorities will want to consider before they determine whether to prosecute Zenith for unfair practices in rest..
suppose a consumer has 600 to spend on two goods good x and good y. the price of good x is given by px 20. the price
If rent control creates deadweight loss for both consumers and suppliers of housing, why are consumers often in favor of this policy?
Assume that the central bank implements monetary contraction that is not fully anticipated by financial markets. This partially unexpected monetary contraction will cause which of the following to occur?
Paco's saving account earns 13% compounded weekly and receives quarterly deposits of $38,000. His first deposit occurred on October 1, 2006.
1.What part does consumer confidence play in GDP? Research the term "animal spirits" and how it applies to business confidence. Can you give an example of consumer confidence in your life? 2.What part does the government play in economic growth? How ..
A monopolist has access to an industry with market demand P = 10 ? y where y is the firm’s quantity. Its cost function is C(y) = 2y. Decide the firm’s profit maximizing quantity. Show your outcome on a graph. What is the firm’s profit? Calculate the ..
The market for gasoline has changed in a couple significant ways over the last few years: new technologies have decreased the costs associated with producing.
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