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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 398 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1: Mortgage Loan Analysis: Mr. Davidson plans to buy a house at Sugar Land in May 2017. The sale price is $580,000. He is going to pay 20% down payments and borrow additional 80% from Bank of America with a 15-year, 3.8% fixed-rate mortgage loan. He is expected to pay an equal MONTHLY payment starting from June 2017 for a total of 15 years.
(1) Calculate the required monthly mortgage payment for Mr. Davidson.
(2) Construct the 2017~2025 amortization table for Mr. Davidson.
(1)Â Â Â When Mr. Davidson prepares his 2017 tax filing, what is the total mortgage interest payment that he can consider for deduction?
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