Mike purchased a home the mortgage is $235,000 at 8 3/4 % for 25 years related questions

- 1please check my answer thanks :)Mike purchased a home the mortgage is $235,000 at 8 3/4 % for 25 years
please check my answer thanks :)Mike purchased a home the mortgage is $235,000 at 8 3/4 % for 25 years. His annual property taxes on the home are $6,345 he also has to pay hazzard insurance in the amount of $1,479. What is the PITI payment of their loan ?I am not to sure about this oneThe choices are A. 1,849.45 B. 2,586.05 or C. 652.00My answer is c

- 2The Patel family recently purchased a home, taking out a mortgage of $235,000 at 8½%for 25 years
The Patel family recently purchased a home, taking out a mortgage of $235,000 at 8½%for 25 years. Excluding taxes and insurance, what is the monthly PITI payment of their loan?

- 3The Patel family recently purchased a home, taking out a mortgage of $235,000at 8 1/2% for 25 years
The Patel family recently purchased a home, taking out a mortgage of $235,000at 8 1/2% for 25 years. Excluding taxes and insurance, what is the monthly PITIpayment of their loan?

- 4A person purchased a 225463 home 10 years ago by paying 10% down and sighning a 30 year mortgage at 8.7% compounded monthly
A person purchased a 225463 home 10 years ago by paying 10% down and sighning a 30 year mortgage at 8.7% compounded monthly. Interest rates have dropped and the owner wants to refinance the unpaid balance by signing a new 20 year mortgage at 4.2% compounded monthly. How much interest will refinancing save? I have been on this for a couple hours and believe I am only off by a fraction and that is why my digital homework is still saying it is correct. Instead of copying 4 pages of home work and math I will post my large findings in hopes someone can see where I messed up. Monthly payment of original 30yr mortgage = 1589.11Total interest to be paid on original 30 yr mortgage = 369161.35Unpaid balance of original loan after 10 years = 180472.95Total interet paid during 1st ten years on original 30yr mortgage = 168248.93New monthly payment for 15 yr mortgage = 1436.59Total interest to be paid on new 15 year mortgage = 78113.25Total savings:369161.35-(168248.93+78113.25)=122799.17And this answer was wrong???? Standing back from the numbers they all look about right using common sense but online homework thing says its wrong? Any help would be much appreciated

- 5please check my answer thanks :)Juan bought a home with an adjustable-rate mortgage
please check my answer thanks :)Juan bought a home with an adjustable-rate mortgage. The margin on the loan is 2.7% and the rate cap is 7.2% over the life of the loan. If the current index rate is 4.3%, what isthe initial rate of the ARM ?A. 7%B 9.9%C 14.32%My answer is I said A

- 6please check my answer :)The monthly payment of a $100,000 mortgage at a rate of 8 1/2 % for 20 years is 8678.23
please check my answer :)The monthly payment of a $100,000 mortgage at a rate of 8 1/2 % for 20 years is 8678.23

- 7please check my answerthanks :)The monthly payment on a $90,000 mortgage at a rate of 7.5% interest for 30 years is $630.00
please check my answerthanks :)The monthly payment on a $90,000 mortgage at a rate of 7.5% interest for 30 years is $630.00

- 8Sue and Tom are assistant professor at a local university they both take home $40,000 per year after tax sue is 37 years old and tom 35 years old they have two children karen 13 mike 11 if one of them die they estimate that the remaining family member wo
Sue and Tom are assistant professor at a local university they both take home $40,000 per year after tax sue is 37 years old and tom 35 years old they have two children karen 13 mike 11 if one of them die they estimate that the remaining family member would need about 75% of the present combined pay to retain their current standard of living while the children are still dependent not include an extra $50 a month in child care expense that would be require in a single parent household they estimate that survivor benefit would total about $1000 per month in child support. both sue and tom are knowledgeable investor in the past average after tax return on their investment portfolio have exceeded the rate of inflation by about 3% if sue was to die today how much would tom and the children need in the family maintenance funds question 2 suppose tom and sue had a life insurance protection gap of $50,000 present the steps in sequence how both should proceed to search for protection to close the gap

- 9The home that you purchased in 2004 steadily increased in value for the first four years at the annual rate of 5.3%
The home that you purchased in 2004 steadily increased in value for the first four years at the annual rate of 5.3%. Then, the home steadily decreased in value for the next three years at the annual rate of 3.4%. If you originally purchased the home for $160,000, what is its value today?

- 10A mortgage broker is offering home mortgage at a rate of 9.5% but is fearful that this value is higher than many others are charging
A mortgage broker is offering home mortgage at a rate of 9.5% but is fearful that this value is higher than many others are charging. A sample of 40 mortgages files in the country court house shows an average of 9.25% with a standard deviation of 8.61%. Does this sample indicate a smaller average? Use ó= 0.05 and assume a normally distributed population?

- 11betty is now three times as old as mike, but in five years she will be only twice as old as mike
betty is now three times as old as mike, but in five years she will be only twice as old as mike. how old is mike right now? i don't get what your suppose to do

- 12the patel family recently purchased a home taking out a mortage of $235,000 at 8% for 25 years excluding taxes and insurance what is the monthlt piti payment for their loan
the patel family recently purchased a home taking out a mortage of $235,000 at 8% for 25 years excluding taxes and insurance what is the monthlt piti payment for their loan