Your All Round Mortgage Calculator

Jane wants to take out a 20 yr mortage. the interest rate is 8% compounded semi-annually. jane can afford monthly payments of 0. what is the largest mortage that she can afford?

My attempt at a solution ( using a graphing calculator):
N= 20 x 12 = 240
I%= 8
*PV= 102 612.70???
PMT= -850
FV = 0
P/Y = 12
C/Y = 2
PMT = END

but im suppose to solve this without a graphing calculator.

PV = (R(1-(1/1+i)^n)/i

R = 850
n = 240
i = ????
HELP!!!!!!

I want to write you an email and comment on your discontinuing your Launchcast Program. I was seriously upset when I hear over the radio that INTERNET EXPLORER has had some serious problems with people using them to find a hole to spy on other people and get their personal information. Yahoo has been one of the old and longest traditions as far as the internet. I am 66 years old and have used my Yahoo email account for over 20 years. I can’t say that with any other websites and parts of the internet. I have subscribed to Launchcast for a number of years and have enjoyed “no commercial advertisement music“. I object to the commercialization of Yahoo. selling out, being bought out, CBS Radio. I object to the commercialization of Yahoo in many other phases too. I see them improving their image by selling themselves for the almighty dollar to improve their image to the discredit of the public, especially us old traditionally American public. I’m not counting the young, intelligent youngsters who know everything about computers. When I was in college, there was a computer class where they inserted plugs into a board like an old telephone operator. Pretty soon there was the calculator that stood a foot tall and a foot wide and cost about 0. I realize that change is here but why not keep some of the traditions that us old folks grew up with. Why let the new and improved management, who want the almighty dollar rule the management meetings which are not tuned into the traditional public. (I could say something else but would be called a racist if I did) I can see today the bad management in the banks in mortgages, the bad management in the automobile manufacturers, the bad management in the .com era. Please don’t let bad management rule your company. It can improve. Just ask the public. I miss the Yahoo-oooo advertisements on TV. Personally I don’t watch TV very much. But I do write, write, write on my computer-and listen to music while I do so.

Hey guys, I’m 26, just married, but currently just a single income income as she’s not working. We don’t own a house yet (very bad credit, combined with low household income going into a mortgage is a non-starter). Anyway, my current savings reserve is 00, I’ve been "paying myself first" for the past 7-8 months, . I’m also paying down credit cards and a loan of credit with a combined monthly payment of about 5 (If I paid minimums only it’d be per month) – all credit cards should be paid off in a year. My question is, at this modest amount, in laymans simple to understand terms, what is the best return for the money? I know compunding is supposed to help in the IRA, but when I do calculators of ,000 per year for 20 years, the returns are not that impressive. Seems like unless I have BIG money, I might be better off just putting in money into CDs or Bonds/Bills to save for a downpayment on a house in 3-5 years.

I’m a single guy in my mid 20′s, and I’m FINALLY moving out of my parents’ house soon, and buying a 3BR townhouse by myself. I already got the loan and everything and should be closing any day now. The place needs a lot of repairs, plus I don’t have any furniture/home furnishings, so I’m gonna have to buy all that.

Even though the bank and the online calculators say I should be OK, I was just wondering what other people think. Would I be able to live alone COMFORTABLY and not have to pinch my pennies?

Here’s my financial situation:
My monthly pay is about 00 gross/00 net (although my job security is a little shaky right now)

My mortgage+tax+insurance+HOA fees will be about 50/month
I have a 0/month car lease payment
I have a student loan payment of /month (although I’ve always payed triple that to pay it off quicker)
I always pay my credit card off in full at the end of the month.
I have no idea what other bills/expenses are gonna be like.
I should have about k in cash left over after closing.

I never had to worry about what I spend on because it was always less than my income, and now I’m not sure.

Any opinions?

BTW, I live near Philly.

My husband has a lot of debt and a low credit score. I really could only see myself qualifying but it would be for a much lower amount than other married couples b/c it would just be under my name name only. I’ve never tried to apply for a mortgage yet but will they consider my husbands income at all even when it’s just under my name? How exactly do they determine how much I’ll qualify for? I’ve gone to websites and calculators but I’ve never spoke to an actual agent/lender. I’m very new to this and do not plan to get a house until another 2 years or so. Any suggestions would help, thanks.

they have something to do with investing money and findong the accumulated balance after a couple of years.. i missed that day of school but my friend said that it was easy with one of those T-I 83 calculators but i dont have one..

1.Suppose you want your son’s college fund to contain 5,000 after 15 years. If you can get an APR of 9.3%, compounded monthly, how much should you deposit at the end of each month.

2.Suppose you have 18 months in which to save ,100 for a vacation cruise. If you can earn an APR of 4.3%, compounded monthly, how much should you deposit at the end of each month.

3.Calculate the monthly payment for a home mortgage of 4,000 with a fixed APR of 7.3% for 15 years compounded monthly.

4.You take out an auto loan for 00 over a period of 6 years at an APR of 8%. Determine your monthly payments. (compounded monthly)

5. You take out an auto loan for 00 over a period of 5 years at an APR of 8%. Determine your monthly payments. (compounded monthly)

I just went to one of the tax calculators to get an estimate of our refund. Can someone help me figure out what more we can expect for these two items. IRA of 600.00 and installing energy efficient windows price of windows cost (not installed) was 1600. We do not have enough in deductions to itemize. Only around 7000 with mortgage interest, taxes and donations.if that makes any difference.

Figures are 76716. income federal 8073. Married filing joint
Yes the windows were installed back in November I just didnt add the installation charge since I did not think that counted. Installation was another 600.
Making work pay 800. what is that?

Frankin Raines? The Clinton budget director appointed as CEO of Fannie Mae who changed Fannie Mae from a boring business of — issuing debt to buy mortgages from lenders — into a far more risky one?

Timothy Howard? Former Fannie Mae CFO who overstated the company’s earnings by .6 billion from 1998 to 2004?

Barney Frank? House Financial Services Committee chairman has long been a proponent of both Fannie and Freddie, assuring the public that their mission to encourage home ownership outweighed the distortive risks they brought to the market?

Angelo Mozilo? Few, if any, extracted more personal profit from the credit bubble than the CEO and founder of Countrywide Financial. Mozilo’s talking points always borrowed heavily from the propaganda of the changed Fannie & Freddie, pretending that it was performing some kind of public service — "breaking down barriers" — by making homes more "affordable" to the sub average wage earner.

Alan Greenspan? who many blame for the housing bubble, and supposed to be providing the country with a financial voice of reason, who fell so far short, that it might be comical if it weren’t so tragic?

John McCain?, who saw the problems with Fannie and Freddie and and sponsored a bill that could have regulated them in 2005, but was politically unable to get it out of the demotratic controlled Senate Finance committee?

Dodd, Obama, and the other Senators who took huge sums of money from Fannie and Freddie? who vigorously defended them even after their accounting scandals in 2004?

The financial institutions? who purchased these incredibly complex financial products from Fannie and Freddie with out fully understanding the risks?

The people that that bought houses they clearly couldn’t afford? The ones who didn’t bother to take 3 minutes with a calculator?

To be sure, there were many more complicit in this mess. Who do you blame?

Hi,

Just wondering if there are any benefits experts out there that could maybe give me an idea of what I am entitled to, if anything?

Me and my partner both work full time and have a combined wage of £33,500 a year. This is out first child so we do not claim any form of benefit at the moment and I am at a complete loss as to what we are entitled to. Our wage appears quite good when you look at it but as you all probably now after the hefty mortgage and bills have been paid the reality is a lot different Trying to get my head around it as it means I may be able to take more time off with my baby. I tried one of those online calculators but do not trust them as it said we were entitled to something now but we arent.

Can anyone help and tell me what I can claim for and really when I should start making these claims. I know I cannot claim Child Benefit until baby is here. I also plan to go back to work 3 days a week – 25.5hours so when and if I do make the claim for benefits do I put down my full time hours or the hours I will be doing when I go back?

Thanks in advance!

I need an EQUATION or two. I’m trying to program a credit card debt calculator in PHP to basically tell me this as a result…..

if you currently owe ,000 in credit cards, and your average interest rate is 20%,

You will pay 9,196.96 in interest,
your total payment will be 9,196.96

and it will take you 54.33 years by paying the minimums.

the only part that i know for sure is to add the two numbers together to get the total amount.. beyond that i’m kind of lost, mostly because i don’t understand how credit card interest works on a deep level.

I understand the "simple interest" model, which is NOT what credit cards work on.. most of the stuff i find on the net is for mortgages and simple interest. that doesn’t help me in this case.

thanks in advance!!

the equations themselves will help.