Let's start by letting me know what you monthly payment is.
i = .042/12 = .0035
n = 12(30) = 360
now your Present Value is only .8(150000) = ....
make sure you use the correct formula
The Bainters purchase the $150,000.00 home with a 20%
down payment, a 30-year mortgage, and an interest rate of 4.2%. Annual property taxes are $1920.00. Home insurance is $750.00 per year, which is to be placed into an escrow account.
What is the total first-year cost when renting the home?
A) 11,400.00
B) 900.00
C) 11,200.00
D) 10,800.00
Help please !!!
4 answers
Wouldnt the monthly payment be 809.32??
nope ....
P(1 - 1.0035^-360)/.0035 = 120000
did you have that equation?
P(1 - 1.0035^-360)/.0035 = 120000
did you have that equation?
Ah. So 586.820?
1 answer