Math finance



BUYING A HOUSEIn this project you will do the research needed to buy a house and calculate costs. Part 1: ResearchGo on to and find a house that fits your needs. Make a PowerPoint that includes the following:overview (price, bedrooms, bathrooms, square footage, and address)description (paragraph describing the house)picturesfacts and featuresnearby schoolsPart 2: Monthly CostYour PowerPoint must also include the following calculations:Calculate down payment (assuming you can put down 3.5%).Use your calculator to determine the monthly payment (after the down payment has been made) for a 30-year fixed rate mortgage at 4.108%.Determine the money (per month) that will go towards paying for the house (principal) and how much money will go to the bank (interest) for the first 6 months.Calculate how much interest is paid on the loan. Calculate the total cost of the house. Determine your annual and monthly property tax bill if property taxes are 1.04%. Determine your annual and monthly home owner’s insurance bill. Determine what your combined monthly income must be to afford this house. ................
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