Problem regarding the real estate amortization


Problem: The Potters want to buy a small cottage costing $123,000 with annual insurance and taxes of $770 and $1800?, respectively. They have saved ?$14,000 for a down? payment, and they can get a 6%, 15?-year mortgage from a bank. They are qualified for a home loan as long as the total monthly payment does not exceed? $1000. Are they? qualified? LOADING... Click the icon to view the Real Estate Amortization Table. Question content area bottom Part 1 Select the correct choice below and fill in the answer box to complete your choice. ?(Round to the nearest cent as? needed.) A. No?, because the total monthly payment is ?$enter your response here. B. Yes?, because the total monthly payment is ?$enter your response here.

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Accounting Basics: Problem regarding the real estate amortization
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