Beth has just borrowed $ 5,000 on a four- year loan at 8% simple interest. Complete the amortization table below for the first five months of the loan.
Answer to relevant QuestionsWhat if Beth had made the same loan as an add-on interest loan? How would her payments differ? Why is there a difference? Mary and Marty are interested in obtaining a home equity loan. They purchased their house five years ago for $ 125,000 and it now has a market value of $ 156,000. Originally, Mary and Marty paid $ 25,000 down on the house ...What are closing costs? List and briefly describe the different closing costs you might incur when applying for a mortgage. What are the two financial components you must consider before purchasing a home? Why should you consider them? Once you have reduced your list of three or four homes down to one home, what is your next step? Should you offer the price the seller is asking? Describe how you would conduct a market analysis of the home.
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