Asked • 05/09/20

You want to buy a $202,000 home. You plan to pay 5% as a down payment, and take out a 30 year loan for the rest.

a) How much is the loan amount going to be?


b) What will your monthly payments be if the annual interest rate is 5%?


c) What will your monthly payments be if the annual interest rate is 6%?

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