Access Zillow.com for houses listed in the Bellevue, Washington area under $2,000,000.
Project requirements:
-Access Zillow.com for houses listed in the Bellevue, Washington area under
$2,000,000.

-Choose a house that looks comfortable in which you would enjoy living. Include a photo of the home and the listing on Zillow. 10 points

-State the listing price for the house – assume you will purchase the house for this price. 5 points

-An acceptable down payment is 20% of the purchase price. What is the down payment on your house? 10 points

-What is the amount that you will need to finance for this house? (Purchase price – down payment) 10 points

-You will want to finance this house for 30 years (360 months). In early April, the 30-year fixed-rate mortgage was 4.65%. Use the formula from section 5.4 , interest rate of 4.65% and total amount financed to calculate the monthly payment on your house. (state the formula and all computation work). State this monthly payment amount. 20 points

-Now, use the Finance App on your calculator to calculate the monthly payment. State the values that you input into the calculator. Were the two calculated monthly payment amounts the same? 10 points (Use graphing calculator Ti-84 Plus)

-Find an apartment (or condo rental) in the Bellevue area with the same or lower monthly rates. Also, include the amount of any monthly (or yearly) dues or assessments. Show the listing/advertisement. 5 points

-What is your preference – the house or the rental apartment/condo? Why? (Your reason must be very specific, including financial reasons) 5 points

-Now, let’s see how much money you have paid in interest on this house. Calculate the total of the monthly payments for 30 years of this mortgage. The difference between the total monthly payments and the amount of the loan is the interest paid. How much interest did you pay during the 30 year mortgage on this house? 15 points

-How much rent would you pay (using the rent you chose previously) over 30 years, assuming you stay in your chosen rental for the entire time? 5 points

-Use some graphics and creative organization to make this project look appealing to the instructor. 5 points