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March 4, 2015

Homework Help: math plz help me

Posted by Anonymous on Monday, May 2, 2011 at 1:03pm.

A couple purchasing a home budget $1700 per month for their loan payment. If they have $15,000 available for a down payment and are considering a 25-year loan, how much can they spend on the home at each of the following rates? (Round your answers to the nearest cent.)
(a) 6.9% compounded monthly
$ 1

(b) 7.1% compounded monthly
$ 2

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