Project #79984 - Mortgage Financing

Question #3 – Mortgage Financing
Samantha purchased a $129,000 home with 30-year term, 6% rate mortgage. At closing she paid a $10,000 down payment, requiring her to purchase private mortgage insurance (PMI) at a cost of $25 per month. Calculate Samantha’s monthly mortgage plus PMI payment.

Each of the problems you will be solving requires using your calculator to compute solve a financial equation. In order to calculate answers correctly, it is important that you follow several important rules: Ñž

  1. Follow the Order of Operations to solve complicated problems.
  2. Attempt to solve equations without writing down intermediate values. If you must write down values, keep as many digits or decimal places as you can. Better yet, use the memory locations in your calculator to store intermediate values.
  3. NEVER round intermediate calculations. Only round the final answer.

Subject Mathematics
Due By (Pacific Time) 08/23/2015 08:00 pm
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