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The banks have an 80% Loan to Value Ratio (LVR) where the interest rates are expected to be 5.50% pa (serviceability buffer included) over a 30 year loan term with monthly compounding. The buyer expects to pay on top of the purchase price of the property (as owner occupier), a stamp duty on purchase of 3.50% of the purchase price and approximately $4,000 on other purchase costs and inspections.
1. Estimate the max purchase price of a home the buyer can purchase with the total savings based on your buyer's details above and a 20% deposit to match the banks LVR; while avoiding the Lender's Mortgage Insurance by staying below the 80% LVR. (you must show how you arrived at your max price with the methods we showed you) Randomly picking a number is not acceptable.
2. Based on the max price you have estimated above, what is the monthly mortgage repayment for the loan based on the given scenario? Use an 80% LVR to estimate the loan amount based on the Max Purchase price from Question 1.
In which directions are they pushing or pulling the U.S. economy? Also, do you think the gap between real GDP and potential GDP will widen or narrow?
You want a real rate of return of 5%, and you estimate inflation will average 6% per year. Should you buy the annuity?
If you choose the time payment plan, what nominal annual interest rate will you be charged?
Alfred, Beth, and Charles orally agreed to start ABC Computers (“ABC”), a business to manufacture and sell computers. Alfred contributed $100,000 to ABC, stating to Beth and Charles that he wanted to limit his liability to that amount. ABC opened and..
In a study of government financial aid for college? students, it becomes necessary to estimate the percentage of? full-time college students who earn
The purpose of this assignment is to help you learn more about the concepts of knowledge and knowledge management.
John has the utility function U = Min{x,y}. The price of x is 1, the price of y is 1, and his income is 50. a) Find John’s optimal bundle. b) Suppose now there is a discount for the first 20 units of x John buys such that px=0.5 for those first 20 un..
Calculate the change in income necessary to leave each type of consumer at the level of utility in autarky. Is there a situtation in which consumers can be made
Assume that Crusoe's and Friday's utility functions are described in Problem 1. Assume now, though, that initially Crusoe has six oranges and Friday two. Assume that for every two oranges taken away from Crusoe, Friday gets only one, an orange being ..
Classical economists belief that prices and quantities adjust to the changes in the forces of supply and demand and that the economy produces
Do you think that will happen? Can you find anything that suggests that Automation will create more jobs rather than reduce them?
When the government imposes a price ceiling 12$, disequilibrium between quantity demanded and quantity supplied results in what?
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