Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Business & Finance Posted 12 May 2018 My Price 7.00

reconsidering refinancing

1)  Layla has owned her home for 12 years and expects to live in it for 5 more years. She originally borrowed $200,000 at 5% for 30 years to buy the home. She still owns $130,000 on the loan, interest rates have fallen to 4%, and Layla is reconsidering refinancing the loan for 15 years. She would have to pay 3 points on the new loan with no prepayment on the current loan. What is Layla's current monthly payment?

2) What would Layla's monthly payment on the new loan be?

3) Run the numbers worksheet on "Whether you should refinance your mortgage." Show the numbers at each line. Use 3% for the investment return. Advise Layla on whether or not she should refinance.

4) Jim's house was damaged when lightning struck his roof. The cost to fix the home will be $30,000. He carries an HO-3 policy with a $500 deductible. If the home is insured for $200,000 and the replacement value is $180,000, how much will Jim's reimbursement from the insurance company be?

5) What is the fair price for a $1,000,000 term life insurance policy for a 45 year old female who smoke?

I need these questions explained and answered badly as soon as possible to help prepare me for my upcoming final! Will provide a thumbs up and whatever else needed. Thank you!

Answers

Maurice Tutor
(5)
Status NEW Posted 12 May 2018 04:05 PM My Price 7.00

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