Please help me this is one question only 2 parts please help fast sir If you can spare $1,098 at moșt as monthly payment, howmuch mortgage can you afford (30 year at 3% annualinterest)? Suppose you want to purchase a new house costs $500,000,and you will borrow $410,939 from a bank with a 30-yearmortgage at 3% annual interest, how much will be yourmonthly payment.14%n123467891011121314151617181920212223242526272820Single PaymentCompound Present SinkingAmountWorthFundFactorFactorFactorFind FGiven PF/P1.0031.0051.0081.0101.0131.0151.0181.0201.0231.0251.0281.0301.0331.0361.0381.0411.0431.0461.0491.0511.0541.0561.0591,0621,0641.0671.0701.0721075Find PGiven FP/F99759950992599019876985198279802977897539729970596819656963296089584956195379513948994659442941893959371934893250301Find AGiven FA/F1.00004994332524911990165614181239110009890898082207580703065506130577054405150488046404430423040503880373035803456***Compound Interest FactorsUniform Payment SeriesCapital CompoundRecovery AmountFactorFactorFind AFind FGivenGiven AA/PF/A1.00255019335025162015168114431264112510140923084707830728068006380602056905400513048904680448043004130398038303701.0002.0033.0084.0155.0256.0387,0538.0709.09110.11311.13912.16713.19714.23015.26616.30417.34418.38819.43420.48221.53422:58723.64424.70325.76526.82927.89628.966Present GradientWorthFactorFind PGiven AP/A0.9981.9932.9853.9754.9635.9486.9317.9118.8899.86410.83711.80712.77513.74114.70415.66516.62417.58018.53319.48520.43421.38022.32423.26624 206Arithmetic GradientGradientPresentWorthFind PGiven GP/G25.14326.07827.010UniformSeriesFind AGiven GA/G0.0000.4990.9981.4971.9952.4932.9903.4873.9834.4794.9755.4705.9656.4596.9537.4477.9448.4338.9259.4179.90810.40010.89011.38011.87012.36012.84913.3370.0000.9952.9805.9509.90114.82620.72227.58435.40644.18453.91364.58976.20588.759102 244116.657131.992148.245165.411183.485202.463222.341243.113264.775287.323310.752335.057360 23114%n12345678910111213141516171819202122232425262778

Present value is the value of all the future cash flows at a present date when compounded for…

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If you can spare $1,098 at moşt as monthly payment, how much mortgage can you afford (30 year at 3% annual interest)?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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Concept explainers

Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.

Question

Please help me this is one question only 2 parts please help fast sir

If you can spare $1,098 at moșt as monthly payment, how
much mortgage can you afford (30 year at 3% annual
interest)?

Suppose you want to purchase a new house costs $500,000,
and you will borrow $410,939 from a bank with a 30-year
mortgage at 3% annual interest, how much will be your
monthly payment.
14%
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20
Single Payment
Compound Present Sinking
Amount
Worth
Fund
Factor
Factor
Factor
Find F
Given P
F/P
1.003
1.005
1.008
1.010
1.013
1.015
1.018
1.020
1.023
1.025
1.028
1.030
1.033
1.036
1.038
1.041
1.043
1.046
1.049
1.051
1.054
1.056
1.059
1,062
1,064
1.067
1.070
1.072
1075
Find P
Given F
P/F
9975
9950
9925
9901
9876
9851
9827
9802
9778
9753
9729
9705
9681
9656
9632
9608
9584
9561
9537
9513
9489
9465
9442
9418
9395
9371
9348
9325
0301
Find A
Given F
A/F
1.0000
4994
3325
2491
1990
1656
1418
1239
1100
0989
0898
0822
0758
0703
0655
0613
0577
0544
0515
0488
0464
0443
0423
0405
0388
0373
0358
0345
6***
Compound Interest Factors
Uniform Payment Series
Capital Compound
Recovery Amount
Factor
Factor
Find A
Find F
Given
Given A
A/P
F/A
1.0025
5019
3350
2516
2015
1681
1443
1264
1125
1014
0923
0847
0783
0728
0680
0638
0602
0569
0540
0513
0489
0468
0448
0430
0413
0398
0383
0370
1.000
2.003
3.008
4.015
5.025
6.038
7,053
8.070
9.091
10.113
11.139
12.167
13.197
14.230
15.266
16.304
17.344
18.388
19.434
20.482
21.534
22:587
23.644
24.703
25.765
26.829
27.896
28.966
Present Gradient
Worth
Factor
Find P
Given A
P/A
0.998
1.993
2.985
3.975
4.963
5.948
6.931
7.911
8.889
9.864
10.837
11.807
12.775
13.741
14.704
15.665
16.624
17.580
18.533
19.485
20.434
21.380
22.324
23.266
24 206
Arithmetic Gradient
Gradient
Present
Worth
Find P
Given G
P/G
25.143
26.078
27.010
Uniform
Series
Find A
Given G
A/G
0.000
0.499
0.998
1.497
1.995
2.493
2.990
3.487
3.983
4.479
4.975
5.470
5.965
6.459
6.953
7.447
7.944
8.433
8.925
9.417
9.908
10.400
10.890
11.380
11.870
12.360
12.849
13.337
0.000
0.995
2.980
5.950
9.901
14.826
20.722
27.584
35.406
44.184
53.913
64.589
76.205
88.759
102 244
116.657
131.992
148.245
165.411
183.485
202.463
222.341
243.113
264.775
287.323
310.752
335.057
360 231
14%
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