Warning: You MUST answer problem 1 before doing the rest of this assignment! Please double-check on the previous page that a price was entered and submitted. You should see a green check mark next to your price if it was accepted.

Assume you make an offer for 93% of the asking price and the offer is accepted. How much is the purchase price? Give an answer correct to the nearest penny (two decimal places). $ Submit Question Question 2 Jump to Answer Unattempted Question 3 Check 0/8 pts Retries 5 Info Details The bank requires a 20% down payment. How much is your down payment and what amount will you be borrowing? Give an answer correct to the nearest penny (two decimal places). Down payment: $

Loan amount: $

Submit Question Question 3 Jump to Answer Unattempted Question 4 Check 0/8 pts Retries 5 Info Details Assume that closing costs will run to 5% of the purchase price. How much will your closing costs be and what are your total upfront costs (down payment plus closing costs)? Give answers correct to the nearest penny (two decimal places). Closing cost: $

Total upfront: $

Submit Question Question 4 Jump to Answer Unattempted Question 5 Check 0/8 pts Retries 5 Info Details If your interest rate is 3.2% for a 30-year fixed rate mortgage, how much is your monthly payment? Round to the nearest penny (two decimal places).

$ Submit Question Question 5 Jump to Answer Unattempted Question 6 Check 0/8 pts Retries 5 Info Details What is the total amount paid for the house, including the negotiated purchase price, closing costs, and interest (that is all upfront costs, plus monthly payments for 30 years)? $

What is the difference between the purchase price and what you actually paid? This represents the total financing charges you will pay over the term of the mortgage. $

Give answers correct to the nearest penny (two decimal places). Submit Question Question 6 Jump to Answer price is 529,900