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EleoNora [17]
3 years ago
9

You can afford monthly payments of $3,100. Current mortgage rates are 3.45% for a 30-year fixed rate loan. You are required to m

ake a 20% down payment and have the cash to do it. What price home can you afford? g
Business
1 answer:
g100num [7]3 years ago
6 0

Answer:

$868,331.25

Explanation:

price of house = P

principal of loan = P x (1 - 20%) = 0.8P

using the present value of an annuity formula:

present value of the loan = monthly payment x annuity factor

monthly payment = $3,100

annuity factor (PV, 0.2875%, 360 periods) = 224.0854839

present value of the loan = $3,100 x 224.0854839 = $694,665 = 0.8P

total value of the house = P = $694,665 / 0.8 = $868,331.25

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Realistic conflict theory would be a good explanation for rising prejudice in this situation.

<h3>What do you mean by Realistic conflict theory ?</h3>

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Alan runs a small manufacturing business. One day, a subordinate informed Alan about a problem in the production process because
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The leaders of Barcelona Restaurant Group use ideas and tactics from multiple historical approaches to management. This approach
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During a presidential campaign, the incumbent argues that he should be reelected because nominal GDP grew by 12 percent during h
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Answer:

Grew by 2%

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Question says we must find real GDP per person for the 4 year term that the president has served for so we will use the formula to calculate GDP Deflator to actually solve for Real GDP as we know the formula is GDP Deflator= (nominal GDP per person%)/(Real GDP per person%)x100

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