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A realtor is trying to sell a house to a young cou...

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A realtor is trying to sell a house to a young couple. The price listed on the house is $250,000.00 The couple have explicity stated they cannot afford a mortgage payment exceeding $1800 per month. If the interest rate is an annual 4.5% and they get a 30-year mortgage, will the realtor be able to sell them the home if they like it? Specifically determine the monthly mortgage with no downpayment. How much interest will they pay? What is the maximum house price the couple can offord? Assume no downpayment. Please show your work: Please set calculator on at least 2 decimal points, do not round when you do these problems.

 

Paper#10115 | Written in 18-Jul-2015

Price : $25
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