Graduate plans-how expensive of lake house

Assignment Help Financial Management

Reference no: EM131594038

A young graduate is saving for house on Lake Hartwell. The young graduate is planning on saving $1, 291.00 each quarter for 12.00 years in an investment account paying 7.96% interest that is compounded quarterly. His first deposit will be made at the end of the next quarter, so this is a regular annually, in 12.00 years, he also plans on being to afford a 15-year mortgage with $1, 550.00 monthly payments at a 6.48% APR interest rate. Given the graduate's plans, how expensive of a lake house will he expect to be able to purchase? (assume that the house price will be the value of the savings and the loan)

Reference no: EM131594038

Questions Cloud

Price level affects the real value of money : 1. Consider how to explain how an increase in the price level affects the real value of money.

Desired return-what is the value of this deferred annually : Using the student's desired return, what is the value of this deferred annually today on his 50th birthday?

What is the optimal production rate : Suppose the demand for this firm's services is given by P=2,000-Q and fixed costs are equal to $900,000. What is the optimal production rate?

Summarize techniques that a law enforcement officer use : Summarize techniques that a law enforcement officer can use to modify the effects of stress

Graduate plans-how expensive of lake house : Given the graduate's plans, how expensive of a lake house will he expect to be able to purchase?

How has impacted your understanding of the ethical issues : How has this impacted your understanding of the ethical issues? How has what you have learned in this course influenced your career?

Draw a perfectly inelastic supply curve : Draw a perfectly inelastic supply curve.If elasticity of demand is 0.5 and price is lowered from $20 to $19, by what percentage will quantity demanded rise?

Stands for western texas intermediate : There arefour major countries involved in the oil supply and demand market: Iran, US, Saudi Arabia, and China.

What ethical dilemmas might arise due to these relationships : Do you believe officer involved shootings should be reviewed by the same attorneys who they work alongside

User Account

All Pages