Q1: Raya want to buy a house for investment- to rent it. Raya find out...
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Finance
Q1:
Raya want to buy a house for investment- to rent it. Raya find out that the tenant pays $1000 Monthly. Raya bought the house for $250,000. She sign an agreement with AB to borrowed $150,000 at 12% to be paid monthly over 20 years , with a penalty of 3% on the outstanding balance in case of early payment . 5 years later Raya learned that the Bank of Palestine require 0nly 10% on Mortgage.
Did Raya paid a fair price for the house? Explain
What is the monthly payment that Raya need to pay
Draw a 2 month amortization table
Draw the financial position of Raya on the day she bought the hose
What is the outstanding balance after 5 years- after the 60th payment.
What is the interest that Raya paid through this period- the 5 years.
What is the Raya Financial position after 5 years
How much Raya need to pay penalty to the AB
Should Raya refinance?
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