The Jonsons Have Accumulated the Nest Egg of $10,000 That

question 130

Multiple Choice

The Jonsons have accumulated the nest egg of $10,000 that they indent to use as a down payment towards the purchase of a new house. Because their present gross income has placed them in a relative heigh tax bracket, they have decided to invest a minimum of $2,800/month monthly payments ( to take the advantages of the tax deduction) towards the purchase of their house. However, because of other defalt obligation their monthly payment should not exceed $4,000. If Jonson decide to secure a 15-years mortgage istead of a 30- years mortgage, what is the price range of houses they should consider when the local morgage rates for this type of loan is 7% ? Round your answers to nearest integer. ​

• A) The range of the homes they should consider is approximately $446,834 to $453,241.
• B) The range of the homes they should consider is approximately $443,241 to $453,696 .
• C) The range of the homes they should consider is approximately $443,842 to $453,842 .
• D) The range of the homes they should consider is approximately $321,517 to $455,024.
• E) The range of the homes they should consider is approximately $443,696 to $456,834 .

---

Definitions:

Same-Sex Partnerships

Romantic or sexual relationships between individuals of the same sex, recognized legally or socially in many societies.

Health Benefits

Positive effects on health resulting from certain activities, behaviors, or interventions.

Married People

Individuals who are legally united in matrimony, which involves mutual rights and obligations.

Negative Emotional Responses

Feelings or reactions that arise in opposition to a situation, often involving feelings such as sadness, anger, fear, or disgust.