Financial Algebra Budget Review

You are buying a house for $170,500. In order to get approved for the loan you have to put a 10% down payment on the house. How much will your down payment be? What will your loan amount be?

You are buying a 125000 house and use $24000 as a down payment. You pay 7.5% interest over 15 years. What will your monthly payment be?

If your monthly payment is $936.28 for your monthly mortgage for 15 years. What will your total payment be? How much interest will you pay?

At the end of dentistry school you want to be able to go on vacation before starting your full time job. You know the trip will cost you $6000. How much must you invest into an account every month at 3.25% interest compounded monthly so that you will be able to go on your vacation in 8 years?

You buy a car for $26,000. The car immediately depreciates as soon as you drive it off the lot. It depreciates at a rate of 9% every year. How much will your car cost after 4 years?

You start a new job that pays $30,192 a year. You need $2000 a month to cover your bills. Will you be able to pay them. If so what is your net pay?

You invest $340 every month into your savings account at 2.75% interest compounded monthly. If in 25 years you want to be able to use this money as a down payment how much will you have in your savings account?

If Joshua has $234,567 in assets and $123456 in liabilities, what would his net worth be?

Hannah has liabilities of: mortgage $1400, Student Loans: $750, Car payment $150 and Assets of : Salary: 5600, stocks: $380 and interest: $120. Find her debt to income ratio.

You bought a car for 16000. You put down $1600, and got $400 for your old car. You term is for 4 years at .99% interest. What is your monthly payment?

How much will a 20% down payment on a $220,000 house be? What will the loan amount be?

What would the monthly payment be on the 220,000 with 20% down if the interest was 4.5% for a 15 year mortgage?