A seller of the property listed at $200,000 excepted a 90% offer the home appraised at $185,000 and the buyers obtained a loan for 85% for 30 years at 5% interest what is the first months interest

$637.50

Step-by-step explanation:

According to the Question,

Thus, the first months interest is

$200,000 list price x 0.90 = $180,000 contract sales price.

Since lender always uses the less of the appraised value or the contract sales price, use $180,00 for the remainder of the calculations.

$637.50

Step-by-step explanation:

The appraised value is irrelevant. The lender will consider the lower of the appraised value or the agreed purchase price.

The term of the loan is also irrelevant. It is not an amortization problem.

The first month’s interest is $637.50.

$650 per month plus utilities

step-by-step explanation:

just based on the info you gave, it would seem more cost effective to rent at $650 per month plus utilities.   if utilities are, in fact, $150 per month, your monthly living costs would be $800 as opposed to the other option of $825.

it is not that hard all u have to do is plot the graph

step-by-step explanation: