If you can spare $1,572 at most as monthly payment, how much mortgage can you afford...

Transcribed Image Text:

If you can spare $1,572 at most as monthly payment, how much mortgage can you afford (30 year at 3% annual interest)? Suppose you want to purchase a new house costs $500,000, and you will borrow $403,150 from a bank with a 30-year mortgage at 3% annual interest, how much will be your monthly payment. 1 n 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 AAAAAAAAA998 SREB**82238 26 70 72 80 84 90 100 104 240 360 480 Single Payment Compound Amount Factor Find F Given P F/P 1.003 1.005 1.008 1.010 1.013 1.015 1.018 1.020 1.023 1.025 1.028 1.030 1.033 1.036 1.038 1.041 1.043 1.046 1.049 1.051 1.054 1.056 1.059 1.062 1.064 1.067 1.070 1.072 1.075 1.078 1.094 1.105 1.127 1.133 1.139 1.162 1.191 1.197 1.221 1.233 1.252 1.271 1.284 1.297 1.349 1.821 2.457 3315 Present Worth Factor Find P Given F P/F 9975 .9950 9925 9901 9876 9851 9827 9802 9778 9753 9729 9705 9681 .9656 9632 9608 9584 9561 9537 9513 9489 9465 9442 9418 9395 9371 9348 9325 9301 9278 9140 9049 8871 8826 8782 8609 8396 8355 8189 8108 7987 7869 7790 7713 7411 5492 4070 3016 Sinking Fund Factor Find A Given F A/F 1.0000 4994 3325 2491 1990 1656 1418 1239 1100 0989 0898 0822 0758 0703 0655 0613 0577 0544 0515 0488 0464 0443 0423 0405 0388 0373 0358 0345 0333 0321 0266 0238 0196 0188 0180 0155 0131 0127 0113 0107 00992 00923 00881 00843 00716 00305 00172 00108 Compound Interest Factors Uniform Payment Series Capital Recovery Factor Find A Given P A/P 1.0025 5019 3350 2516 2015 1681 1443 .1264 1125 1014 0923 0847 0783 0728 0680 0638 0602 0569 0540 0513 0489 0468 0448 0430 0413 0398 0383 0370 0358 0346 0291 0263 0221 0213 0205 0180 0156 0152 0138 0132 0124 0117 0113 0109 00966 00555 00422 00358 Compound Amount Factor Find F Given A F/A 1.000 2.003 3.008 4.015 5.025 6.038 7.053 8.070 9.091 10.113 11.139 12.167 13.197 14.230 15.266 16.304 17.344 18.388 19.434 20,482 21.534 22.587 23.644 24.703 25.765 26.829 27.896 28.966 30.038 31.114 37.621 42.014 50.932 53.189 55.458 64.647 76.395 78.780 88.440 93.343 100,789 108.349 113.451 118.605 139,743 328 306 582.745 926.074 Present Worth Factor Find P Given A P/A 0.998 1.993 2.985 3.975 4.963 5.948 6.931 7.911 8.889 9.864 10.837 11.807 12.775 13.741 14.704 15.665 16.624 17.580 18.533 19.485 20.434 21.380 22.324 23.266 24.206 25.143 26.078 27.010 27.940 28.868 34.387 38.020 45.179 46.947 48.705 55.653 64.144 65.817 72427 75.682 80.504 85.255 88.383 91.480 103.563 180.312 237.191 279.343 Arithmetic Gradient Gradient Gradient Uniform Series Find A Given G A/G 0.000 0.499 0.998 1.497 1.995 2.493 2.990 3.487 3.983 4.479 4.975 5.470 5.965 6,459 6.953 7.447 7.944 8.433 8.925 9,417 9.908 10.400 10.890 11.380 11.870 12.360 12.849 13.337 13.825 14.313 17.231 19.167 23.021 23.980 24.938 28.751 33,481 34.422 38.169 40.033 42.816 45.584 47.422 49.252 56.508 107.586 152.890 192.670 Present Worth Find P Given G P/G 0.000 0.995 2.980 5.950 9.901 14,826 20.722 27.584 35.406 44.184 53.913 64.589 76.205 88.759 102.244 116.657 131.992 148.245 165.411 183.485 202.463 222.341 243.113 264.775 287.323 386.278 413.185 592.499 728,740 1040.055 1125.777 1214.588 1600 085 2147.611 2265.557 2764.457 3029.759 310.752 335.057 27 360.233 3446.870 3886.283 4191.242 4505.557 5852.112 19398.985 36263.930 53820.752 21 22 23 24 25 26 n 28 AAAAS 11 12 13 14 15 3 16 17 18 19 20 29 30 36 40 48 50 52 60 70 72 80 84 90 96 100 104 120 240 360 480 1 2 4 5 10 6 7 8 9 If you can spare $1,572 at most as monthly payment, how much mortgage can you afford (30 year at 3% annual interest)? Suppose you want to purchase a new house costs $500,000, and you will borrow $403,150 from a bank with a 30-year mortgage at 3% annual interest, how much will be your monthly payment. 1 n 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 AAAAAAAAA998 SREB**82238 26 70 72 80 84 90 100 104 240 360 480 Single Payment Compound Amount Factor Find F Given P F/P 1.003 1.005 1.008 1.010 1.013 1.015 1.018 1.020 1.023 1.025 1.028 1.030 1.033 1.036 1.038 1.041 1.043 1.046 1.049 1.051 1.054 1.056 1.059 1.062 1.064 1.067 1.070 1.072 1.075 1.078 1.094 1.105 1.127 1.133 1.139 1.162 1.191 1.197 1.221 1.233 1.252 1.271 1.284 1.297 1.349 1.821 2.457 3315 Present Worth Factor Find P Given F P/F 9975 .9950 9925 9901 9876 9851 9827 9802 9778 9753 9729 9705 9681 .9656 9632 9608 9584 9561 9537 9513 9489 9465 9442 9418 9395 9371 9348 9325 9301 9278 9140 9049 8871 8826 8782 8609 8396 8355 8189 8108 7987 7869 7790 7713 7411 5492 4070 3016 Sinking Fund Factor Find A Given F A/F 1.0000 4994 3325 2491 1990 1656 1418 1239 1100 0989 0898 0822 0758 0703 0655 0613 0577 0544 0515 0488 0464 0443 0423 0405 0388 0373 0358 0345 0333 0321 0266 0238 0196 0188 0180 0155 0131 0127 0113 0107 00992 00923 00881 00843 00716 00305 00172 00108 Compound Interest Factors Uniform Payment Series Capital Recovery Factor Find A Given P A/P 1.0025 5019 3350 2516 2015 1681 1443 .1264 1125 1014 0923 0847 0783 0728 0680 0638 0602 0569 0540 0513 0489 0468 0448 0430 0413 0398 0383 0370 0358 0346 0291 0263 0221 0213 0205 0180 0156 0152 0138 0132 0124 0117 0113 0109 00966 00555 00422 00358 Compound Amount Factor Find F Given A F/A 1.000 2.003 3.008 4.015 5.025 6.038 7.053 8.070 9.091 10.113 11.139 12.167 13.197 14.230 15.266 16.304 17.344 18.388 19.434 20,482 21.534 22.587 23.644 24.703 25.765 26.829 27.896 28.966 30.038 31.114 37.621 42.014 50.932 53.189 55.458 64.647 76.395 78.780 88.440 93.343 100,789 108.349 113.451 118.605 139,743 328 306 582.745 926.074 Present Worth Factor Find P Given A P/A 0.998 1.993 2.985 3.975 4.963 5.948 6.931 7.911 8.889 9.864 10.837 11.807 12.775 13.741 14.704 15.665 16.624 17.580 18.533 19.485 20.434 21.380 22.324 23.266 24.206 25.143 26.078 27.010 27.940 28.868 34.387 38.020 45.179 46.947 48.705 55.653 64.144 65.817 72427 75.682 80.504 85.255 88.383 91.480 103.563 180.312 237.191 279.343 Arithmetic Gradient Gradient Gradient Uniform Series Find A Given G A/G 0.000 0.499 0.998 1.497 1.995 2.493 2.990 3.487 3.983 4.479 4.975 5.470 5.965 6,459 6.953 7.447 7.944 8.433 8.925 9,417 9.908 10.400 10.890 11.380 11.870 12.360 12.849 13.337 13.825 14.313 17.231 19.167 23.021 23.980 24.938 28.751 33,481 34.422 38.169 40.033 42.816 45.584 47.422 49.252 56.508 107.586 152.890 192.670 Present Worth Find P Given G P/G 0.000 0.995 2.980 5.950 9.901 14,826 20.722 27.584 35.406 44.184 53.913 64.589 76.205 88.759 102.244 116.657 131.992 148.245 165.411 183.485 202.463 222.341 243.113 264.775 287.323 386.278 413.185 592.499 728,740 1040.055 1125.777 1214.588 1600 085 2147.611 2265.557 2764.457 3029.759 310.752 335.057 27 360.233 3446.870 3886.283 4191.242 4505.557 5852.112 19398.985 36263.930 53820.752 21 22 23 24 25 26 n 28 AAAAS 11 12 13 14 15 3 16 17 18 19 20 29 30 36 40 48 50 52 60 70 72 80 84 90 96 100 104 120 240 360 480 1 2 4 5 10 6 7 8 9