What is the purchase price of the home

Reference no: EM131427069

A 30-year fixed-rate mortgage has monthly payments of $1,500 per month and a mortgage interest rate of 9 percent per year compounded monthly. If a buyer purchases a home with the cash proceeds of the mortgage loan plus an additional 20 percent down, what is the purchase price of the home?

Reference no: EM131427069

Questions Cloud

Scrum model of software development : Write a 2-page essay that compares and contrasts the Scrum Model of software development with the Unified Process model. Give a brief overview of both models and if there are multiple views of a model, make sure you indicate your source if the vie..

Estimate the value of the firm’s equity and debt : Assuming that the risk-free rate is 5 percent, use the Black-Scholes Model to estimate the value of the firm's equity and debt.

Manager of the server installation project : Q: You are the project manager of the Server Installation Project for your organization. You're working with your project stakeholders and project team to create the project management plan.

Describe the three key factors in interpersonal attraction : Describe the three key factors in interpersonal attraction, state how each contributes to either the initiation or maintenance of relationship?

What is the purchase price of the home : If a buyer purchases a home with the cash proceeds of the mortgage loan plus an additional 20 percent down, what is the purchase price of the home?

Introduction to management information systems course : You have just completed ten (10) weeks of an introduction to management information systems course. Imagine you have been asked to create a one (1) day training course that highlights the important elements of what you have just learned within the..

What is the annualized interest rate : What is the annualized interest rate, compounded daily, that is equivalent to 10 percent interest compounded semiannually? What is the daily compounded rate that is equivalent to 10 percent compounded continuously?

Information systems capstone : Why should an executive summary should be short and to the point?

Describe the eight elements of the staffing process : Our topic this week is Human Resource Planning and Organizational Strategy. The paper should address organizational processes related specifically to human resource planning -- and once again, I would like to see you apply these concepts in the co..

User Account

All Pages