Maurice Tutor

(5)

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
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: 401 Weeks Ago, 3 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Aug 2017 My Price 7.00

Marblehead, Massachusetts

Sharon Fox decided to buy a home in Marblehead, Massachusetts, for $275,000. Her bank requires a 30% down payment. Sue Willis, an attorney, has notified Sharon that besides the 30% down payment there will be the following additional costs:

Recording of the deed

$ 30.00

A credit and appraisal report

155.00

Preparation of appropriate documents

48.00

A transfer tax of 1.8% of the purchase price and a loan origination fee of 2.5% of the mortgage amount

Assume a 30-year mortgage at a rate of 10%.

a. What is the initial amount of cash Sharon will need?

b. What is her monthly payment?

c. What is the total cost of interest over the life of the mortgage?

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Aug 2017 08:08 PM My Price 7.00

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