Expert Answers

Based on the readings, please answer the following questions:
City to City Home Price Comparison:
Imagine that you live in a home in Cheyenne, Wyoming, valued at $100,000. You are planning to move, and are checking to see what you would pay for a similar house in other locations.
Multiply the market value of your current home (in Cheyenne) by the index number of the destination city where you plan to move. Then, divide that number by the index number of the market where your current home is located.

1.  What would a home, which is similar to your $100,000 home in Cheyenne, cost in the following cities:
2.  What would be your monthly payment (Principal and Interest)?
3.  At the end of 30 years, when your loan is paid off, how much money will you have paid in principal and interest?
4.  At the end of 30 years, when your loan is paid off, how much money will you have paid in interest alone?
5.  What would be your monthly payment (Principal and Interest)?
6.  At the end of 15 years, when your loan is paid off, how much money will you have paid in principal and interest?
7.  At the end of 15 years, when your loan is paid off, how much money will you have paid in interest alone?
8.  What generalizations can you make about home loans in relation to the term of the loan?
9. What would be your monthly payment (Principal and Interest)?
10. At the end of 30 years, when your loan is paid off, how much money will you have paid in principal and interest?
11. At the end of 30 years, when your loan is paid off, how much money will you have paid in interest alone?
12. What generalizations can you make about home loans in relation to the the rate of interest?

Based on the readings (and other information you might find and give citations for), please answer the following questions:
1.  How much damage deposit may my landlord require of me?
2.  Can my landlord shut off the water, electricity, or gas if I don’t pay my rent?
3.  How much notice must I give my landlord when I’m going to move out?
4.  How does an eviction work?
5.  I signed a year lease. I want to move before the end of the year. Am I responsible for the rest of the rent?  Explain.
6.  Can my landlord walk in at any time unannounced?
7.  Which is better, a year lease or a month-to-month agreement? Why?
8.  Briefly summarize what you learned from the readings.