ComputerScienceExpert

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    Devry
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Category > Math Posted 20 Apr 2017 My Price 8.00

Susan and David are able to afford monthly house payments

Name: ___________________________________ Date: _____________ MAT 1460- ____ Homework
Section 5.4
Support your answer by showing your work.
1. Susan and David are able to afford monthly house payments of $1000 (excluding additional fees
such as property tax and escrow fees). What is the value of the house that they can afford if they
can secure a 30-year 4.8% annual interest rate mortgage? What would be the unpaid loan
balance after 10 years? 2. Jeff wishes to buy a $30,000 sports car. If the loan company offers a 6% annual interest rate for 7
years, what would be his monthly payments? Assuming he made regular payments, how much
interest would he have paid after 7 years? 3. A car dealership offers a special $500 off a $20,000 car if you make payments at the beginning of
the month instead of the end of the month payments. If you can secure a 5-year 6% annual
interest car loan, find out if it is worth it by comparing their monthly payments (assuming that
you can afford either payment plan).

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ComputerScienceExpert
(11)
Status NEW Posted 20 Apr 2017 09:04 AM My Price 8.00

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file 1492681198-Solutions file 2.docx preview (51 words )
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