Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. q1: raya want to buy a house for investment- to re

Q1: Raya want to buy a house for investment- to rent it. Raya find out...

50.1K

Verified Solution

Question

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.

  1. Did Raya paid a fair price for the house? Explain
  2. What is the monthly payment that Raya need to pay
  3. Draw a 2 month amortization table
  4. Draw the financial position of Raya on the day she bought the hose
  5. What is the outstanding balance after 5 years- after the 60th payment.
  6. What is the interest that Raya paid through this period- the 5 years.
  7. What is the Raya Financial position after 5 years
  8. How much Raya need to pay penalty to the AB
  9. Should Raya refinance?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

CostRetailBeginning inventory     347,900     784,000Purchases     730,100     980,000Freight in      &nbCostRetailBeginning inventory     347,900     784,000Purchases     730,100     980,000Freight in        39,200                -  Mark ups                -          98,000Mark downs                -       116,375Sales                -       686,000Find Ending Inventory usingavg. cost, conventional,...

Statistics
1.2K views

Three fair coins are tossed simultaneously 10 times. Find the probability that \"2 heads and one...

General Management
1.2K views

Summarize the qualitative risks of on?time project completion considering the current employment and work environment in the...

Basic Math
1.2K views

Question 9 7 3 16 Part 1 of 4 HW Score points O Points 0...

Basic Math
1.2K views

Katherine just started a running plan where she runs 8 miles the first week and...

Calculus
1.2K views

Determine the equation of the parabola graphed below Provide your answer below 5 4 3...

Calculus
1.2K views

8 marks Classify the following differential equations as linear or non linear and give their...

Calculus
1.2K views

If sin x in Quadrant 1 find 27 28 tan 2x Please enter answer accurate...

Algebra
1.2K views

Determine a formula for the quadratic function in vertex form that has its vertex at...

Accounting
1.2K views

What is the total supply chain and logistics cost for each supplier...

Accounting
1.2K views

The following balances were extracted from the books of Amani enterprises as at 30 June...

Finance
1.2K views

Question 7 What is a risk reversal? What might you infer if a risk reversal...