Ch 7 retake 2025 - Marissa Guzman Fusi | Library

Instructions

Remember to complete all the ones you know how to do first and then go back and complete the others.  
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The Jacobsens want to buy a new home in Sky Ranch Park. They need to borrow $389,000. Their bank offers the couple the opportunity to buy down the quoted interest rate of 5.7% by 0.2% per point purchased. Each point will cost 1% of the amount borrowed. 

1

What will the new interest rate be if 2 points are purchsed?

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What will the cost of 2 points be?

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What is the monthly payment with the original interest if their loan is 30 years?

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What is the monthly payment with the new interest if their loan is 30 years?

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Determine the breakeven point.

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Mile’s room measures 12 by 15 feet with a height of 9 feet. It is well-insulated and is on the west side of the house. What size air conditioner should he purchase? Round to the next thousand.

Ironman has been looking at penthouses but is not sure if the bank will lend him the money. He currently makes $168,248 per year. He would like to have a mortgage of no more than $2,450, annual property taxes that don’t exceed $4,800, and semi-annual homeowner’s insurance of less than $2,800. He has the following monthly payments: $875 for their car payment. $2,400 for credit cards, $460 tech loan payment, and $980 grocery/house bills.

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What is his back end ratio?

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The Parker family will be closing on their house is $287,600. What are the closing costs of their home?

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Monthly Payment of Payment 1:

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Beginning Balance of Payment 2

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Monthly Payment of Payment 2:

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Towards Principal of Payment 2:

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Ending Balance of Payment 2:

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Towards Principal of Payment 3

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Ending Balance of Payment 3:

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Towards Principal of Payment 4:

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Ending Balance of payment 4:

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Tracee's family is buying a new house. It will cost $247,200 with an APR of 5.7% for 30 years. What will their monthly payment be?

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Rhino's monthly payment is $2,540. His loan is for 30 years and he house cost him $425,400. How much will he pay overall in interest?

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Given the following table determine the exponential regression equation: (round to two decimal places) www.desmos.com

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What would be a good estimate for a 1,400 square foot apartment?

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The assessed value of Electro's house is $350,500. The annual property tax rate is .92% of the assessed value. What is the annual property tax rate on Electro's home?

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How far off the ground is the top of the ladder? (Round your answer to the nearest tenth)

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In the diagram below, x represents the length of the ladder that is leaning against a wall of a building, and y represents the distance from the foot of the ladder to the base of the wall. The ladder makes a 60 degree angle with the ground and reaches a point on the wall 17 feet above the ground.

Find the length of the ladder (x). Round to the nearest tenth.