Question

A borrower bought a house for $250,000; he can obtain an 80% loan with a 30-year fully amortizing, 6% interest rate and monthly payment. Assuming the marginal tax rate for the borrower is 25%. Maintain and insurance are currently $1,200 each per year, Selling cost is 6% of sale, property tax is 2% of the value each year, property value increases 5% per year. Assume that you will sell your home after one year, how much cash you will receive after pay off mortgage balance and selling cost? $49,206.0 $51.129.71 $38,756.00 $39,406.0

          A borrower bought a house for $250,000; he can obtain an 80% loan with a 30-year fully amortizing, 6% interest rate and monthly payment.
Assuming the marginal tax rate for the borrower is 25%. Maintain and insurance are currently $1,200 each per year, Selling cost is 6% of sale,
property tax is 2% of the value each year, property value increases 5% per year.
Assume that you will sell your home after one year, how much cash you will receive after pay off mortgage balance and selling cost?
$49,206.0
$51.129.71
$38,756.00
$39,406.0

A borrower bought a house for 250,000; he can obtain an 80% loan with a 30-year fully amortizing, 6% interest rate and monthly payment.
Assuming the marginal tax rate for the borrower is 25%. Maintain and insurance are currently $1,200 each per year, Selling cost is 6% of sale,
property tax is 2% of the value each year, property value increases 5% per year.
Assume that you will sell your home after one year, how much cash you will receive after pay off mortgage balance and selling cost?49,206.0
51.129.7138,756.00
39,406.0

Added by Timothy A.

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