13. Sergei and Anya own a three-bedroom bungalow. They make weekly mortgage payments of $217.98. They make quarterly payments for property taxes of $1257. They have a bank account set up for home repairs into which they put in $275 each month. The average total monthly bill for water, home insurance, cable television, and telephone is $449. What are the total annual expenses associated with the house to the nearest hundred dollars? $25 000 b. $25 100 a. $26 000 d. $26 100 с.
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- Alan and Samantha Brown have a mortgage with the Bank of America. The bank requires the Browns to pay their homeowner's insurance, property taxes, and mortgage in one monthly payment to the bank. Their monthly mortgage payment is $1,450.30, their semi-annual property tax bill is $6,470, and their annual homeowner's insurance bill is $980. How much is the monthly payment they make to Bank of America?Felice bought a duplex apartment at a cost of $205,000. Her mortgage payments on the property are $1,340 per month, $666 of which can be deducted from her income taxes. Her real estate taxes total $1,860 per year, and insurance costs $1,476 per year. She estimates that she will spend $1,074 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What monthly rent must she charge for each apartment to break even?The Carp family makes a $30,000 down payment on a $150,000 home. They finance it for 15 years at 3 7/8%. If annual taxes are $2,970 and homeowners insurance is $940, what will their total PITI payment be? If the bank charges 2 discount points, how much will the Carp family pay for them? Referring to question #15, if the Carp's have a gross monthly income of $5,600 and total fixed monthly expenses of $2,720, which includes their house payment, calculate the housing ratio and the debt to income ratio. Do they qualify?
- Mike and Mary Jane Lee have a yearly income of $71,428 and own a house worth $107,200, two cars worth a total of $26,119 and furniture worth $13,023. The house has a mortgage of $55,551 and the cars have outstanding loans of $3,646 each. Utility bills, totaling $276 for this month, have not been paid. The value of Mike and Mary Jane's total assets are $?. Round to the nearest dollar.Ed and Marta are paid $4,130 after taxes every month. Monthly expenses include $1,397 on housing and utilities, $674 for auto loans, $216 on food, and an average of $1,246 on clothing and other variable expenses. Calculate and interpret their savings ratio. The amount of Ed and Marta's income available for savings and investment is $?. Round to the nearest dollar.Ted Phillips has monthly take-home pay of $1,685; he makes payments of $410 a month on his outstanding consumer credit (excluding the mortgage on his home). How would you characterize Ted’s debt burden? What if his take-home pay were $850 a month and he had monthly credit payments of$150?
- Rafaela has a gross monthly income of $3,900. She has 15 remaining payments of $189 on a used car. The taxes and insurance on a house Rafaela may purchase are $115 per month. What maximum monthly payment does the bank's loan officer feel that Rafaela can afford? The maximum monthly payment includes principal and interest for the amount of the loan as well as the taxes and insurance. Round your answer to the nearest cent.A couple wants to purchase a $260,000 house, and they have the required 20% down payment and money for other closing costs. The bank is offering a 30-year mortgage at 4.625% interest, compounded monthly. The couple has an annual after-tax income of $55,000 and other debts totaling $650 per month. (a) If the maximum debt-to-income ratio (total monthly debt divided by after-tax monthly income) is 43%, can the couple afford to purchase the home? (b) If the couple lives in the house for 30 years, what is the total amount paid for the house, including down payment, principal, and interest?Amy earns $5,891 per month. She pays a monthly mortgage of $1,230, a monthly car payment of $195, and a student loan payment of $210 per month. She would like to apply for a credit card but needs to keep her back- end DTI at 40% maximum. What would her maximum monthly credit payment need to be?
- Sheila Spinney, a recent college graduate, receives a salary of $2976 each month. She pays (3)/(8) of this amount in taxes, social security, and a retirement plan. Of the remainder, (9)/(10) goes for basic living expenses. How much money remains?.Ed and Marta are paid $2 comma 410 after taxes every month. Monthly expenses include $777 on housing and utilities, $395 for auto loans, $164 on food, and an average of $713 on clothing and other variable expenses. Assuming that they save excess funds, calculate and interpret their savings ratio. Hint: Prepare an income statement, and then compute the ratio.Beth buys a home for $314,561 and puts 20% down. How much is the monthly payment on her thirty-year mortgage given 3.24% interest?