Question: How would you solve for the following question using the BA II Plus Texas Insturment. You want to purchase a house that is priced at
How would you solve for the following question using the BA II Plus Texas Insturment.
You want to purchase a house that is priced at $85,000. You can get a loan for 80 percent of the banks appraised value at 15.25% interest per year for 30 years with monthly amortization. The banks appraiser has a theory that the value of a house is 95 percent of the asking price and appraises it accordingly. What will be your monthly payment if you take the loan?
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