What is michelle affordable home purchase price

Assignment Help Financial Management

Reference no: EM132072257

Michelle Duncan wants to know her affordable home purchase price. Her annual gross income is $45,600. She has $780 per month of other debt and expects her property taxes and homeowners insurance to cost $310 per month. She knows she can get a 11.00%, 30-year mortgage so that her mortgage payment factor is $9.52. She expects to make a 10% down payment. What is Michelle's affordable home purchase price? (Round your answer to the nearest dollar amount.)

Reference no: EM132072257

Questions Cloud

Determine what will be the dividend payout ratio : Axel Telecommunications has a target capital structure that consists of 60% debt and 40% equity. The company anticipates that its capital budget.

Earnings for employees in general automotive repair : Suppose that the average weekly earnings for employees in general automotive repair shops is $450, and that the standard deviation for the weekly earnings

Calculate the required return and expected return for stock : Calculate the required return and expected return for this stock. What is this stock's required rate of return?

Law of demand and supply : Sometimes the law of demand and supply fails because there is always a constraint that states everything else must be held constant.

What is michelle affordable home purchase price : Michelle Duncan wants to know her affordable home purchase price. What is Michelle's affordable home purchase price?

Opportunity costs and the marginal rate of substitution : Explain in terms of relative prices, opportunity costs and the marginal rate of substitution.

How does reserve requirements protect a bank : How does reserve requirements protect a bank? Explain why the Fed requires reserves on demand deposits but not on time deposits or savings accounts?

What is the standard deviation of stock : There is a 15% probability of a below-average economy and a 85% probability of an average economy. What is the standard deviation of Stock A.

How about average variable costs : If the marginal costs increase (due to falling marginal product of a variable input), how does this change average (total) costs? How about average variable cos

User Account

All Pages