b) If your yearly taxes for the building will be $2,500 and the insurance for the building will be $1,900 per year, what will the total of the PITI for the mortgage be? c) Compute what the unpaid principal balance will be after youâve made three payments on the mortgage. d) What will the new annual taxes on the property be if the assessed valuation is 60% of purchase price and the new tax rate is 1.90 per $100 of assessed valuation?
b) If your yearly taxes for the building will be $2,500 and the insurance for the building will be $1,900 per year, what will the total of the PITI for the mortgage be? c) Compute what the unpaid principal balance will be after youâve made three payments on the mortgage. d) What will the new annual taxes on the property be if the assessed valuation is 60% of purchase price and the new tax rate is 1.90 per $100 of assessed valuation?
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You are considering the purchase of a small office building. The office building specializes in offering facilities to small startup firms who are looking to avoid long-term commitments while their businesses are growing. Tenants sign one-year leases and may renew at market rates, if they so desire. The building is configured with 20 suites. Five (5) suites have 4,000 useable square feet and five (5) have 2,500 usable square feet. The remaining 10 suites each have 1,000 useable square feet. The building has 7,500 square feet of common area. In addition, a food truck pays $5,000 per year to operate in the parking lot during lunch hours.
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