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Proc means sas12/9/2023 ![]() ![]() (d) Available financial information suggests that mortgage rates might drop over the next few months. ( c ) If they buy, how much will Walter and Marcie have left in savings to pay for moving expenses? (b) Walter and Marcie think that their monthly housing costs would be lower the first year if they bought the condo. Also, consider the effect of the purchase on their savings and monthly budget. (a) Can the Jensens afford to buy the condo? Use the results from the Garman/Forgue companion website or the information on the said pages to support your answer. They are in the 15 15 15 percent tax bracket, pay $ 225 \$ 225 $225 per month on an installment loan (ten payments left), and have $ 39, 000 \$ 39,000 $39, 000 in savings and investments outside of their retirement accounts. The monthly homeowner's association fee is $ 275 \$ 275 $275, and utility costs are estimated at $ 160 \$ 160 $160 per month. Principal and interest payments are estimated at $ 905 \$ 905 $905 per month, with property taxes amounting to $ 110 \$ 110 $110 per month and a homeowner's insurance premium of $ 450 \$ 450 $450 per year. They have found a condominium they can buy for $ 170, 000 \$ 170,000 $170, 000 with a 20 20 20 percent down payment and a 30 30 30-year, 7 7 7 percent mortgage. Walter and Marcie Jensen of Atlanta, Georgia, both of whom are in their late 20 20 20s, currently are renting an unfurnished two-bedroom apartment for $ 880 \$ 880 $880 per month, plus $ 130 \$ 130 $130 for utilities and $ 34 \$ 34 $34 for insurance. ![]()
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