Chapter 9 Review

Chapter 9 Review - Review Chapter 9 Name:_ Calculate the...

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Review Chapter 9 Name:_______________________ Calculate the monthly payment with escrow. 1. A brick house in fire protection class 9 with a \$445,000 replacement value insured at 90% has a rate of assessment of 40%. The tax rate is 55 mils. You are financing the entire cost of the house for 20 years at 6.5% interest. Monthly payment w/out escrow: ____________ Monthly insurance premium: ____________ Monthly taxes: ____________ Total monthly payment w/ escrow: ____________ 2. A wood frame house in fire protection class 5 with a \$100,000 replacement value insured at 80% has a rate of assessment of 43%. The tax rate is \$60 per \$1000. You are financing the entire cost of the house for 15 years at 9% interest. Monthly payment w/out escrow: ____________ Monthly insurance premium: ____________ Monthly taxes: ____________ Total monthly payment w/ escrow: ____________ 3. A brick house in fire protection class 4 with a \$60,000 replacement value insured at 100% has a rate of assessment of 55%. The tax rate is 73.5 mils.

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This note was uploaded on 01/24/2012 for the course HUM 9999 taught by Professor Variousprofessorslisted during the Summer '06 term at Abilene Christian University.

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Chapter 9 Review - Review Chapter 9 Name:_ Calculate the...

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