The Taylors have purchased a $210,000 house. They made an initial down payment of $30,000 and...

 

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The Taylors have purchased a $210,000 house. They made an initial down payment of $30,000 and secured a mortgage with interest charged at the rate of 7 %/year on the unpaid balance. Interest computations are made at the end of each month. If the loan is to be amortized over 30 years, what monthly payment will the Taylors be required to make? (Round your answer to the nearest cent.) $1197.54 What is their equity (disregarding appreciation) after 5 years? After 10 years? After 20 years? (Round your answers to the nearest cent.) 5 years $ 90478.16 10 years 20 years 133139.75 $ 184461.71 X x X [9.09/9.09 Points] DETAILS PREVIOUS ANSWERS TANFIN12 5.3.044. MY NOTES Sarah secured a bank loan of $200,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. She plans to sell her house in 10 years. How much will Sarah still owe on her house? (Round your answer to the nearest cent.) $76864.81 The Taylors have purchased a $210,000 house. They made an initial down payment of $30,000 and secured a mortgage with interest charged at the rate of 7 %/year on the unpaid balance. Interest computations are made at the end of each month. If the loan is to be amortized over 30 years, what monthly payment will the Taylors be required to make? (Round your answer to the nearest cent.) $1197.54 What is their equity (disregarding appreciation) after 5 years? After 10 years? After 20 years? (Round your answers to the nearest cent.) 5 years $ 90478.16 10 years 20 years 133139.75 $ 184461.71 X x X [9.09/9.09 Points] DETAILS PREVIOUS ANSWERS TANFIN12 5.3.044. MY NOTES Sarah secured a bank loan of $200,000 for the purchase of a house. The mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. She plans to sell her house in 10 years. How much will Sarah still owe on her house? (Round your answer to the nearest cent.) $76864.81

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The information provided seems to be a combination of a question and answers about mortgage payments and equity Lets break it down Question 1 Scenario ... View the full answer