What the maximum fha-insured loan allowed on the house

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Problem 1: Suppose you borrow $48,000 at 9.5% interest for 20 years with annual compounding. Your annual mortgage constant will equal approximately

Option 1: 0.0945.

Option 2: 0.1135.

Option 3: 9.499.

Option 4: 1.90.

Problem 2: Suppose you borrow $48,000 at 9.5% interest for 20 years with annual compounding and an 80% LTV. The maximum FHA-insured loan allowed on this house, as discussed in class, would equal approximately

Option 1: $57,900

Option 2: $60,000

Option 3: $57,000

Option 4: $59,100

Reference no: EM132953348

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