- Label the parts with the provided letter. - Use appropriate units on all answers....
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Finance
- Label the parts with the provided letter. - Use appropriate units on all answers. - Show all your work to receive full credit. - Work is considered as showing the use by evaluation of the appropriate formula(s) with the provided numbers and information. - If no work is provided, no credit will be given. You wish to buy a new house that costs $256,000. The bank is currently charging 5.4% interest for the a monthly payment. A. (2.25pts.) If you take out a 25 -year mortgage, what will your monthly payment be? B. (1pts.) How much total interest will you pay if you only paid the minimum monthly payment found int part A and paid for the entire 25 years? C. (1pt.) If the home insurance premium for the year will be $996 and they will need to pay an annual property tax amount of $2,808, what will the PITI be? D. (0.5pt.) What is the finance charge for the first payment? E. (0.5pts.) How much of the first monthly payment will go toward the balance/principal? F. (0.5pts.) What is the new balance on the loan after the 1st payment
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