Angelina is buying a home for $332,000. She has a $57,000 down payment and the bank hasoffered her a 30-year fixed rate mortgage at 4.98%. What will be Angelina's monthly mortgagepayment?Round your answer to two decimal places. In 2050, the government has collected $9,776 billion in revenues from taxes but has spent$10,655 billion on government purchases and transfers. What is the budget surplus(+)/deficit(-) for2050?Note: A deficit should be negative, and a surplus should be positive. Enter your answer in billions.

Information Provided: Home cost = $332,000 Down payment = $57,000 Interest rate = 4.98% Years = 30…

Answered: offered her a 30-year fixed rate…

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offered her a 30-year fixed rate mortgage at 4.98%. What will be Angelina's monthly mortgage payment?

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 24PROB

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Concept explainers

Amortized Loans

The term "amortization" refers to spreading the value of a loan or a debt over a series of regular payments or installments comprising of both the principal and interest amount. It generally involves the process where in the value of a loan or an intangible asset is written down over its maturity period.

Question

Angelina is buying a home for $332,000. She has a $57,000 down payment and the bank has
offered her a 30-year fixed rate mortgage at 4.98%. What will be Angelina's monthly mortgage
payment?
Round your answer to two decimal places.

In 2050, the government has collected $9,776 billion in revenues from taxes but has spent
$10,655 billion on government purchases and transfers. What is the budget surplus(+)/deficit(-) for
2050?
Note: A deficit should be negative, and a surplus should be positive. Enter your answer in billions.

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