What if Beth had made the same loan as an add-on interest loan? How would her payments differ? Why is there a difference?
Answer to relevant QuestionsTracy is borrowing $ 8,000 on a six- year, 11%, add- on interest loan. What will Tracy’s payments be? Refer to question 8. What will Mary and Marty’s credit limit be if the bank uses the market value of equity to determine their credit limit and will loan them 70% of the equity? In Question 8 Mary and Marty are interested ...Describe the characteristics of a fixed- rate mortgage. Why do certain homeowners prefer a fixed- rate mortgage to an adjustable- rate mortgage? What is mortgage refinancing? Are there any disadvantages to refinancing? Dorothy and Matt are ready to purchase their first home. Their current monthly cash inflows are $ 4,900, and their current monthly cash outflows are $ 3,650. Their rent makes up $ 650 of their cash flows. They would ...
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