1. Sarah is planning to purchase her own home as her first real estate investment. The home is selling for $200,000 and she needs a 20% down payment. The loan will be for 30 years at 3.5% interest. What is Sarahs monthly payment?

How much money would Sarah save over the life of the loan if she obtained a 15-year loan at the same rate?

If Sarah did not have the down payment and could save $850 per month at 2% APR compounded monthly, how long would Sarah have to save before she had the required down payment?