Dr. Tennant would like to buy a $115,000 home and has found financing at 4.6% (12)...

  

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Dr. Tennant would like to buy a $115,000 home and has found financing at 4.6% (12) with 2.5 points for a 30-year loan if he pays 10% down. a) Find the amount financed including points. b) Find his monthly payment. Round up to the next penny. c) Find the actual APR. d) Give the 72nd line of the amortization schedule. e) Find out how much of the 6th year of payments goes to interest. f) If homes are appreciating at 2% (1), find Dr. Tennant's equity immediately after the 72th p "payment. Dr. Tennant would like to buy a $115,000 home and has found financing at 4.6% (12) with 2.5 points for a 30-year loan if he pays 10% down. a) Find the amount financed including points. b) Find his monthly payment. Round up to the next penny. c) Find the actual APR. d) Give the 72nd line of the amortization schedule. e) Find out how much of the 6th year of payments goes to interest. f) If homes are appreciating at 2% (1), find Dr. Tennant's equity immediately after the 72th p "payment.

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Here are the answers to Dr Tennants questions a Amount financed including points Down payment 115000 ... View the full answer