Question
2.You bought a home in Pennsylvania for $85,000. You put down 20% and get a mortgage for 30 years at 4.25%. What amount is going
2.You bought a home in Pennsylvania for $85,000. You put down 20% and get a mortgage for 30 years at 4.25%. What amount is going toward interest on your 100th monthly payment? 3.Jason and Coretta Bradley got a $206,000, 20-year mortgage loan at 5.35%. Find the amount of the final payment on this mortgage. 4.Consider a $50,000 mortgage at 3.5% for 15 years. The closing costs are as follows: origination fee is % of the mortgage, zero points, mortgage insurance of $411, appraisal fee of $520, inspection fees of $100, title insurance fee of $750, recording fees of $85 and an escrow deposit of $735. What is the Real APR? Round to the nearest hundredth of a percent.
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