1. You buy a house for $299,000, if you make a down payment of 20%, find the value of

a. down payment

b. loan payment

2. How much will your principal and interest payment be per month if you take out a 30 year loan with an interest rate of 4.25%

3. How much would you pay in total per month for the 30 year loan if you pay $3200/year in taxes, $1050/year in insurance and $28/month for the home owners association?

4. How much of the first payment for the 30 year loan is interest?

5. How much of the first payment for the 30 year loan is principal?

6.How much in total will you pay for the 30 year loan?

7. How much will you pay in interest for the 30 year loan?

8. How much will your principal and interest payment be per month if you take out a 15 year loan with an interest rate of 4.25%.

9. How much in total will you pay for the 15 year loan?

10. How much will you pay in interest for the 15 year loan?

11. How much money will you save if you finance the house for 15 years versus 30 years?