Mathematics
Mathematics, 31.03.2021 06:20, xavierfox1721

After an intensive search, Philip has narrowed his choices to four houses. Now he wants to buy the one that fits his budget. He has saved $40,000 for the down payment. Use the fixed-rate calculator to find the monthly payment for each house.
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House Purchase Price Monthly Payment Affordability
A
$250,000
B
$200,000
ะก
$195,000
D
$180,000
You can see that Philip can afford only house D. Calculating a monthly budget to determine the affordability of your home works best with a
fixed-rate mortgage. You can use a monthly budget for ARMs, but you must recognize that after a certain period, the monthly installments
will vary as interests rates change.

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Answers: 1

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After an intensive search, Philip has narrowed his choices to four houses. Now he wants to buy the o...

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