Suppose you have a student loan of $\$ 30,000$ with an $\mathrm{APR}$ of $9 \%$ for $20$ years.

a. What are your required monthly payments?

b. Suppose you would like to pay the loan off in $10$ years instead of $20$. What monthly payments will you need to make?

c. Compare the total amounts you'll pay over the loan term if you pay the loan off in $20$ years versus $10$ years.

Assume that you have a student loan of $\$ 30,000$ with an APR of $9 \%$ for $20$ years. a. What are your required monthly payments? b. Suppose you would like to pay the loan off in $10$ years instead of $20$. What monthly payments will you need to make? c. Compare the total amounts you'll pay over the loan term if you pay the loan off in $20$ years versus $10$ years.

Describe how to determine what you can afford for your monthly mortgage payment.

You can afford monthly payments of $\$ 500$. If current mortgage rates are $3.75 \%$ for a $30$-year fixed rate loan, how much can you afford to borrow? If you are required to make a $20 \%$ down payment and you have the cash on hand to do it, how expensive a home can you afford? (Hint: You will need to solve the loan payment formula for $P_{-}$)

You can afford monthly payments of $\$ 500$. If current mortgage rates are $3.75 \%$ for a $30$-year fixed rate loan, how much can you afford to borrow? If you are required to make a $20 \%$ down payment and you have the cash on hand to do it, how expensive a home can you afford? (Hint: You will need to solve the loan payment formula for $P$.)

A man wants to buy a car and can afford to pay $400 per month.

If he can get a loan for 48 months with interest at 12% per year on the unpaid balance and make monthly payments, how much can he pay for a car?

Find the gross income, the adjusted gross income, and the taxable income. Your neighbor earned wages of $30,200, received$130 in interest from a savings account, and contributed $1100 to a tax-deferred retirement plan. He was entitled to a personal exemption of$3800 and had deductions totaling $5450.

Don and Heidi would like to buy a home. They've examined their budget and determined that they can afford monthly payments of $1000. If the annual interest is 7.25% and the term of the loan is 30 years, what amount can they afford to borrow?

Use the marginal tax rates in Table $4.9$ to compute the tax owed in the following situation. Gene is single and had a taxable income of $\$ 35,400$.

Suppose you pay only the interest on a loan. Will the loan ever be paid off? Why or why not?

Decide whether you should itemize your deductions or take the standard deduction in the following cases.

Your deductible expenditures are $\$ 8600$ for interest on a home mortgage, $\$ 2700$ for contributions to charity, and $\$ 645$ for state income taxes. Your filing status entitles you to a standard deduction of $\$ 12,200$.Decide whether you should itemize your deductions or take the standard deduction in the following cases.

Your deductible expenditures are $\$ 8600$ for interest on a home mortgage, $\$ 2700$ for contributions to charity, and $\$ 645$ for state income taxes. Your filing status entitles you to a standard deduction of $\$ 12,200$.

What is meant by ‘monthly net cash flow’?

Considering the following pairs of choices for a $\$ 120,000$ mortgage loan. Calculate the monthly payment and total closing costs for below choice. Explain which loan you would choose and why. 1: $30$-year fixed rate mortgage at $4 \%$ with no closing costs and no points Choice 2: $30$ -year fixed rate mortgage at $3 \%$ with closing costs of $\$ 1200$ and $4$ points

Considering the following loans. a. Calculate the monthly payment. b. Determine the total amount paid over the term of the loan. c. Of the total amount paid, what percentage is for the principal and what percentage is for interest? A home mortgage of $\$ 200,000$ with a fixed APR of $4 \%$ for $30$ years