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Question: A home mortgage with monthly payments for 30 years is available at 6% interest. The home you are buying costs $120,000, and you have saved $12,000 to meet the requirement for a 10% down payment. The lender charges "points" of 2% of the loan value as a loan origination and processing fee. This fee is added to the initial balance of the loan.
(a) What is your monthly payment
(b) If you keep the mortgage until it is paid off in 30 years, what is your effective annual interest rate?
(c) If you move to a larger house in 10 years and pay off the loan, what is your effective annual interest rate?
(d) If you are transferred in 3 years and pay off the loan, what is your effective annual interest rate?
folk wisdom has it that when people lose their jobs they drown their sorrows in drink.economists have long challenged
Engel curve for soccer tickets.
1.given the demand curvep 20-0.5qwhere p is the dollar price per unit and q is the number of units sold per month and
The Solow equilibrium income equation 4.5 in the text says that y = Y/L = (s/n) a/1-a, that is, that income per person, y, which is simply total GDP (Y).
What provisions of ACA are intended to reduce or increase directly the quantity of healthcare consumed and what extent will these provisions have an effect on expenditures and to what extent will they affect health?
analyze the short run and long cost functions for the low-calorie microwaveable food company given the cost functions
a subsample from the current population survey is taken on weekly earnings of individuals their age and their gender.
Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units.
what effect would that have on the size of money market mutual funds? Also, what would that mean (pros and cons) for the banking industry?
How much tobacco each farmer produces? Find this firm's profit-maximizing output level and profit level. Calculate the tax incidence on consumers and producers.
Consider a perfectly competitive market in which the government can impose a per-unit tax t ≥ 0. Calculate the effect of a marginal increase in t on the profit that each firm makes in equilibrium
develop a list of the advantages of living in a capitalist society. then develop lists headed what are the
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