Hassan M.

# math urgent urgent please need help

For Questions #1-5 Use the following scenario:

TREMAINE:

1. Wants a one bedroom townhouse in a trendy new development downtown; average cost is $145,000 2. Is preapproved for a 4.38% interest rate on a 30-year fixed mortgage 3. Has saved$15,000 for a down payment

For Questions #6-10 Use the following scenario:

CARLIN:

1. Has been renting a two-bedroom apartment with her husband and 3 kids; wants to move into a three-bedroom home instead
2. Took her five years, but she has saved $20,000 for a down payment 3. Homes in her small town are typically selling for$75,000 to $95,000 4. Is preapproved for a 3.89% interest rate on a 30-year fixed mortgage 5. Needs her monthly payment to be less than$400

Flag question: Question 1

Question 110 pts

What will Tremaine’s monthly payment be?

Flag question: Question 2

Question 210 pts

How much total interest will he pay over the course of the mortgage?

Flag question: Question 3

Question 310 pts

If Tremaine waited until he had $30,000 saved for a down payment, what his monthly payment be? Flag question: Question 4 Question 410 pts If Tremaine waited until he had$30,000 saved for a down payment, how much total interest will he pay over the course of the mortgage?

Flag question: Question 5

Question 510 pts

If Tremaine waited until he had $30,000 saved for a down payment, how much money did he save by paying an extra$15,000 upfront? (total cost of home)

Flag question: Question 6

Question 610 pts

Rounded to the nearest $500, what’s the most expensive house Carlin could buy? Flag question: Question 7 Question 710 pts At that price, how much total interest will she pay over the course of the mortgage for this house? Flag question: Question 8 Question 810 pts What month and year will Carlin pay off her house? *Under the assumption the assignment is being completed in March of 2020* Flag question: Question 9 Question 910 pts If Carlin could add just$50 to each monthly payment, how much money would she save on interest?

Flag question: Question 10

Question 1010 pts

What month  and year  does Carlin pay off her house if she makes the higher monthly payment?

*Assuming house is purchased in March 2020*