A house is being purchased for $138,000.00.$138,000.00. The 3030-year mortgage has a 10%10% down payment, an interest rate of 4.875%4.875%, and a PMI payment of $25.88$25.88 each month for 7777 months. The yearly taxes are $2400.00$2400.00, and the insurance is $750.00$750.00 per year, which is to be placed into an escrow account. What is the total cost of the loan? Round your answer to the nearest $100.00$100.00. Enter a number, such as $123,500.00
A house is being purchased for $138,000.00.$138,000.00. The 3030-year mortgage has a 10%10% down payment, an interest rate of 4.875%4.875%, and a PMI payment of $25.88$25.88 each month for 7777 months. The yearly taxes are $2400.00$2400.00, and the insurance is $750.00$750.00 per year, which is to be placed into an escrow account. What is the total cost of the loan? Round your answer to the nearest $100.00$100.00. Enter a number, such as $123,500.00
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1PA: On January 1, 2018, King Inc. borrowed $150,000 and signed a 5-year, note payable with a 10%...
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A house is being purchased for $138,000.00.$138,000.00. The 3030-year mortgage has a 10%10% down payment, an interest rate of 4.875%4.875%, and a PMI payment of $25.88$25.88 each month for 7777 months. The yearly taxes are $2400.00$2400.00, and the insurance is $750.00$750.00 per year, which is to be placed into an escrow account.
What is the total cost of the loan? Round your answer to the nearest $100.00$100.00. Enter a number, such as $123,500.00.
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