1. You can afford $1,200 per month as a house payment. If you can get a home loan at 8.9% interest for 15 years (paid monthly), how expensive of a home can you afford? In other words, what amount loan can you pay off with $1,200 per month for 15 years?


2. You purchased a new washer and dryer for $1,250.76 (including sales tax and delivery). Financing was used for the full purchase price and the payments are $140.83 per month for 12 months. What is the cost for the loan?

Answer rating: 100% (QA)

1 To calculate how expensive of a home you can afford on a 1200 per month payment for 15 years with ... View the full answer