Advise the Sampsons on possible loan maturities. Access an online loan payment calculator. Input information to determine the possible monthly car payments for a three- year (36- month) payment period, a four- year (48- month) payment period, and a five- year (60- month) period. Enter the results in the following table:
Answer to relevant QuestionsBased on the information on finance payments that you retrieved from the loan payment Web site, advise the Sampsons on the best loan maturity for their needs. Describe the characteristics of a fixed- rate mortgage. Why do certain homeowners prefer a fixed- rate mortgage to an adjustable- rate mortgage? What are the two financial components you must consider before purchasing a home? Why should you consider them? What is the main factor in determining a home’s resale value? How can you predict a home’s resale value? Who pays commissions when a home is sold? Lloyd and Jean are considering purchasing a home requiring a $ 75,000 mortgage. The payment on a 30- year mortgage for this amount is $ 498.97. The payment for a 15- year maturity is $ 674.12. What is the difference in the ...
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