1. Which is the approximate month in which your balance finally reached half of the original loan amount? Why is it not simply the halfway point in the length of the load?

2. Calculate the amount you could save in interest by financing over 15 years instead of 30

3. Calculate interest saved if the APR were 1 percentage point lower than the one you used

4. Calculate interest saved if a 20% down payment were made on the home instead of 10%.

House Sale Price Down Payment % 203,535.00 20.00% 4.53% 30 4 Loan Years Down Payment $ Loan Amount Payment Total Interest 6 40,707.00 162,828.00 827.93 8 135227.00 10 Month 0 Interest Principal Balance 614.68 613.87 613.06 612.25 611.44 610.62 609.80 608.98 608.15 607.32 606.49 605.65 604.81 603.97 603.12 602.28 601.42 600.57 599.71 598.85 597.98 597.12 596.24 213.25 214.06 214.87 215.68 216.49 217.31 218.13 218.95 219.78 220.61 221.44 222.28 223.12 223.96 224.81 225.65 226.51 227.36 228.22 229.08 229.95 230.81 231.69 162828.00 162614.75 162400.69 162185.82 161970.14 161753.64 161536.33 161318.20 161099.25 160879.47 160658.86 160437.41 160215.13 159992.02 159768.06 159543.25 159317.59 159091.09 158863.73 158635.51 158406.43 158176.48 157945.66 157713.98 15 16 17 18 19 4 6 10 25 12 13 15 16 17 18 26 27 40 42 Student Template Balance Scatterplot READY