subject
Business, 15.02.2021 21:20 jarteria0

The Johnsons have accumulated a nest egg of $40,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2700/month in monthly payments (to take advantage of the tax deduction) toward the purchase of their house. However, because of other financial obligations, their monthly payments should not exceed $3000. If the Johnsons decide to secure a 15-year mortgage, what is the price range of houses that they should consider when the local mortgage rate for this type of loan is 2%/year compounded monthly

ansver
Answers: 1

Another question on Business

question
Business, 22.06.2019 06:30
Select all that apply. select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies
Answers: 1
question
Business, 22.06.2019 12:00
Identify at least 3 body language messages that project a positive attitude
Answers: 2
question
Business, 22.06.2019 16:30
Which of the following has the largest impact on opportunity cost
Answers: 2
question
Business, 22.06.2019 21:00
Adecision is made at the margin when each alternative considers
Answers: 3
You know the right answer?
The Johnsons have accumulated a nest egg of $40,000 that they intend to use as a down payment toward...
Questions
question
Mathematics, 10.12.2020 23:20
question
Biology, 10.12.2020 23:20
Questions on the website: 13722367