Title: Use the following advice from most financial advisors to solve the problem. Spend no more than 28% ... Post by: jaspinder kaur on Feb 2, 2020 Question 1. The cost of a home is financed with a $260,000, 30-year fixed-rate mortgage at 7%. The buyer will make 360 payments of $1729.00. Prepare a loan amortization schedule for the first three months of the mortgage. Round to the nearest cent.▸ ▸ ▸ ▸ Question 2. Use the following advice from most financial advisors to solve the problem.∙ Spend no more than 28% of your gross monthly income for your mortgage payment. ∙ Spend no more than 36% of your gross monthly income for your total monthly debt. Round all calculations to the nearest dollar, if necessary. Suppose that your gross annual income is $96,000. (a) What is the maximum amount you should spend each month on a mortgage payment? (b) What is the maximum amount you should spend each month for total credit obligations? (c) If your monthly mortgage payment is 65% of the maximum amount you can afford, what is the maximum amount you should spend each month for all other debt? ▸ (a) $2240; (b) $2880; (c) $1424 ▸ (a) $26,880; (b) $34,560; (c) $17,088 ▸ (a) $2240; (b) $2880; (c) $1456 ▸ (a) $2240; (b) $2880; (c) $368 Title: Use the following advice from most financial advisors to solve the problem. Spend no more than 28% ... Post by: Jacobian Smith on Feb 2, 2020 Content hidden
Title: Re: Use the following advice from most financial advisors to solve the problem. Spend no more than ... Post by: Courtney Price on Nov 10, 2020 thanks
Title: Re: Use the following advice from most financial advisors to solve the problem. Spend no more than ... Post by: yogabba999 on Dec 16, 2020 Thank you!
|