You want to investigate whether it will make financial sense for your business to purchase some real estate. Find a commercial property that is for sale in your area that your business could use (purchase price must be at least $20,000). Include the URL that will take the class to the webpage for the property. You will finance 80% of the purchase price; you will put 20% down on the purchase. Using 5% as the interest on your 30-year fixed rate mortgage, calculate the monthly payment. Next, calculate the payment using the same 5%, but for a 15-year mortgage. Show all steps in your calculations in your post. In a summary paragraph, discuss the results of your calculations and what you think is the best decision for your business to make regarding purchasing the property.
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
You want to investigate whether it will make financial sense for your business to purchase some real estate. Find a commercial property that is for sale in your area that your business could use (purchase price must be at least $20,000). Include the URL that will take the class to the webpage for the property.
You will finance 80% of the purchase price; you will put 20% down on the purchase. Using 5% as the interest on your 30-year fixed rate mortgage, calculate the monthly payment.
Next, calculate the payment using the same 5%, but for a 15-year mortgage. Show all steps in your calculations in your post.
In a summary paragraph, discuss the results of your calculations and what you think is the best decision for your business to make regarding purchasing the property.
Include these items in your post:
URL link to property
Calculation of 30-year monthly payment
Calculation of 15-year monthly payment
Steps in calculations
Summary
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