Calculate your affordable purchase price for the apartment

Assignment Help Finance Basics

Reference no: EM133273788

Question - Suppose you are considering buying an apartment, your annual gross income is $82,000. You are allowed 35% of monthly gross income for PITI. Assume that your monthly consumption for living is $500, monthly property taxes and insurance amount to be $450. You can get a 25-year mortgage with an interest rate of 6%, and repayments at the end of each month. You do not want to pay PMI, so you will pay at least 80% of the apartment Via mortgage loan. Calculate your affordable purchase price for the apartment?

Reference no: EM133273788

Questions Cloud

Consequences of not eating adequate amounts of carbohydrates : BIO 151 Iowa Central Community College why is it also critical that a minimum number of carbohydrates be present to facilitate energy metabolism

What is the nominal annual interest rate : You will pay X in principal and 0.5X in interest. What is the nominal annual interest rate (monthly compounding) on this mortgage

Do you believe there is sufficient scientific evidence : Do you think large muscle mass exercises (e.g. squats) need to be prescribed at the start of a program, before more isolated muscle group exercises

Write a full body resistance exercise program : Write a full body resistance exercise program (incl a basic cardiorespiratory prescription) for a healthy untrained individual who has basic fitness

Calculate your affordable purchase price for the apartment : You do not want to pay PMI, so you will pay at least 80% of the apartment Via mortgage loan. Calculate your affordable purchase price for the apartment

Do third party organizations have on underdeveloped nations : How would you, as a nutrition professional, tailor the interventions to the Nepalese population? How does the geography of Nepal affect importation

Provide an example of its use in nutrition : The scientific method is an integral part of the field of science. Outline the scientific method and provide an example of its use in nutrition

How much will be in the account three years : You just deposited $2,500 in a bank account that pays a 8.0% nominal interest rate, how much will be in the account three years (12 quarters) from now

Suggest some things they should include in their diet : Suggest some things they should include in their diet and their lifestyle to maintain health and function - Provide the elderly residents with some tips

User Account

All Pages