Business, 04.12.2019 20:31 stephliu721

Kathy wants to buy a condominium selling for $96,000. the taxes on the property are $1500 per year, and homeowners' insurance is$346 per year. kathy's gross monthly income is $5000. she has 15 monthly payments of $135 remaining on her van. the bank is requiring 20% down and is charging a 9.5% interest rate with no points. her bank will approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, andhomeowners' insurance that is less than or equal to 28% of her adjusted monthly income. complete parts a) through h) below.

a) determine the required down payment.

the required down payment is $

b) determine 28% of her adjusted monthly income.

28% of her adjusted monthly income is$

(round to the nearest cent as needed.)

c) determine the monthly payments of principal and interest for a 25-year loan.

the monthly payment of principal and interest for a

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Kathy wants to buy a condominium selling for $96,000. the taxes on the property are $1500 per year,...

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