GEORGIA C.

asked • 06/26/20

Suppose you want to purchase a home for $425,000 with a 30-year mortgage at 4.94% interest. Suppose also that you can put down 30%.

find : What are the monthly payments? (Round your answer to the nearest cent.) $


What is the total amount paid for principal and interest? (Round your answer to the nearest cent.) $



What is the amount saved if this home is financed for 15 years instead of for 30 years? ( round to the nearest cent): $


1 Expert Answer

By:

Alan R. answered • 07/17/20

Tutor
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Finance, Econometrics, Excel, & Public Speaking

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