Question 10 1 pts Consider purchasing a home with a selling price equal to $500,000. You make a 20% down payment in cash

[answerhappygod]

Question 10 1 Pts Consider Purchasing A Home With A Selling Price Equal To 500 000 You Make A 20 Down Payment In Cash 1 (124.29 KiB) Viewed 13 times

Question 10 1 pts Consider purchasing a home with a selling price equal to $500,000. You make a 20% down payment in cash and take out a 25-year, fixed-rate mortgage for the remaining $400,000 at an annual percentage rate of 2%. The remaining loan balance is amortized into yearly payments. How much do you need to pay each year? Round your answer to the nearest whole number. Question 11 1 pts The California State Lottery is introducing a new prize that pays the winner and her offspring $100,000 per year for infinitely many years. Suppose that the risk of the State of California going bankrupt is zero and that the interest rate is 5%. What is the present value of the cash prize for the winner? Round to the closest integer.