700 billion dollar victory?

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I am so happy the 700 billion dollar bailout failed. I know this will lead us into a possible depression but i will be just fine. My family can live with my grandpop who’s house is paid off. We will find food. I did not want my tax dollars going to bailout people who gamble on wall street. This economic depression is needed so this country can start fresh. maybe keep us out of wars we can’t afford and stop policing the world. Many will lose their jobs, many may become homeless. But if the bailout went through, it would only delay the inevitable. America needed to be taught a lesson. Regardless of who wins the election, both parties will have to deal with the same mess. I feel sorry for all of you who’s lives revolve around credit. The next 5 years will be hardest for you. For people like me who don’t buy anything they can’t afford, it will be alot easier. Let this be a lesson to all those with credit cards, mortgage loans, financed cars, and jobs that make you slaves to keeping you material wealth. Life will go on. What do you fear? shouldnt have maxed out that visa and mastercard.
hey mel mel..if you have eaten in 3 days maybe you should stop paying for internet

Please explain how to do this problem.

Josh Paltrow and his wife Susan are buying their first home for $ 125,000.00. They’ve been granted a mortgage loan at an annual interest rate of 8.5 percent for 20 years with a $ 25,000.00 down payment. Closing costs are 2 percent of the amount of the mortgage loan and will be financed as part of the mortgage. What is the actual amount financed with the mortgage?

$ 102,000.00
$ 120,000.00
$ 100,000.00
$ 125,000.00

7 Comments
  1. Reply
    scorpiomom
    February 17, 2011 at 8:30 pm

    I agree

  2. Reply
    $kandl
    February 17, 2011 at 9:23 pm

    I am toooo. they need to take RESPONSIBILITY 4 their actions.
    @ least we won’t be in depression for long
    things will get better

    if it had passed we’d be done 4

  3. Reply
    michael w
    February 17, 2011 at 9:42 pm

    Yes “I’m alright Jack” attitude may be ok for you but thousands of other are not as fortunate as you. Why should your generous Grand pop have to house you and your family simply because you think its a $ 700 victory ?

  4. Reply
    Mel Mel
    February 17, 2011 at 9:44 pm

    Wow you’re a dumber f**k then Bush himself, thank god you aren’t running for president. The only reason you think that is because it doesn’t effect you, which is a little self-centered, selfish, and the world revolves around me syndrome. My family is poor enough, house is getting foreclosed, no heat, ho hot water, we can’t even use the water, the sewer is backing up in the basement and we can’t afford for it to be fixed and we don’t have credit cards or anything. So obviously you aren’t that well informed, my Mother nor her Boyfriend have a job, and I haven’t aten in three days so why don’t you just shut you f**king mouth bout how it’s all our own fault. America doesn’t need to be punished for a thing it’s dumb sh*ts like you that need to get punished. While I agree that we should stop policing the world and it was the war that got us into this mess, it doesn’t mean the American people should get punished for what our idiot gov’t has done. Honeslty, we should throw everyone up there off a cliff, but we can’t. Oh yes we need a depression, need people shooting themselves, need uneducated people like you roaming the streets at night and need people starving to death because we live in America and everything is Americans fault, Real Mature there buddy. Why don’t you do everybody a favor and shut your big mouth before anything stupider falls out of it.

  5. Reply
    4-GiVeN
    February 17, 2011 at 10:00 pm

    I agree with you, but on another note you sound a little selfish…I know what you r saying though…true

  6. Reply
    bbgirl
    February 17, 2011 at 10:41 pm

    i agree with you. heck there is a little over 300 million people in the united states,
    can you imagine the stimulus check amount for each of us if they split 700 billion between us?

  7. Reply
    groma
    February 17, 2011 at 11:02 pm

    Determine principal of loan

    House is 125,000
    They paid 25,000 down
    total value remaining is 100,000

    Closing is 2% of the loan amount = 2% of 100,000 = 2000.
    This is factored into the mortgage, so the principal is 102,000

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