Answer :

jepessoa

Answer:

The first part of the question is missing, so I looked for a similar question and found this:

Tremaine wants a one bedroom townhouse in a trendy new development downtown; average cost is $145,000.  He is preapproved for a 4.38% interest rate on a 30-year fixed mortgage and has saved $15,000 for a down payment.

  1. What will Tremaine’s monthly payment be?
  2. How much total interest will he pay over the course of the mortgage
  3. If Tremaine waited until he had $30,000 saved for a down payment,  what will his monthly payment be?  

1. Tremaine's loan = $145,000 - $15,000 = $130,000

monthly payment = loan / annuity factor

PV annuity factor, 0.365%, 360 periods = 200.1694

monthly payment = $130,000 / 200.1694 = $649.45

2. total payments = $649.45 x 360 = $233,802

total interests paid = $233,802 - $130,000 = $103,802

3. Tremaine's loan = $145,000 - $30,000 = $115,000

monthly payment = loan / annuity factor

PV annuity factor, 0.365%, 360 periods = 200.1694

monthly payment = $115,000 / 200.1694 = $574.52

Tundexi

His monthly payment will be $574.52

Here, we will use the PMT function in Excel to calculate the Monthly loan payment.

  • Loan amount (Pv) = Cost of house - Down payment = $145,000 - $30,000 = $115,000.

Given information

Rate = 4.38% / 12

Nper = 30*12 = 360

PV = 115,000

Monthly payment = PMT(Rate, Nper, Pv)

Monthly payment = PMT(4.338%/12, 360, 115000)

Monthly payment = $574.52

Therefore, tremaine's monthly payment on the loan will be $574.52.

Missing information includes " Wants a one bedroom townhouse in a trendy new development downtown; average cost is $145,000 ● Is preapproved for a 4.38% interest rate on a 30-year fixed mortgage ● Has saved $15,000 for a down payment"

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brainly.com/question/23994168

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