Question

I need help please.

Answer 1

21. Your Parents are buying a house for $187,500.00. They have a good credit rating, are making a 20% down payment, and expect to pay $1,575/month. The interest rate for the mortgage is 4.65%. What must their realized income be before each month and how much interest is accrued at the end of the second month?

22. Card name (APR%) existing balance credit limit
murk (5.6%) $675.49 $1,500.00
Mini(9.85)% $902.43 $1,000.00

What is your debt ratio? If you budget $375 to payoff your credit card debt and you payoff the highest interest card first while maintaining the interest accrued on the other card, how many months does it take you to pay it off and how much is the payment each time excluding the last payment?

So far for the first one I have
187500*.2=37500
187500-37500=150000
4.65/12=.3875

and got 2/6 points

the second one I have
debt/cash you have then
(675.46+902.43)/375
4.207786
I think and got 2/6 points, can someone help me understand and try and get more points