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4 . You are considering purchasing a home with a price of $ 3 5 0 , 0 0 0 . You will make a

4 .

You are considering purchasing a home with a price of $

350, 000 .

You will make a

20 %

downpayment and finance the rest with a

30 -

year fixed rate mortgage with monthly payments.The current interest rate is

4 % .

What would be the monthly payments?

5 .

In Question #

4,

what would be the outstanding loan balance after

3

years

(36

payments

) ?

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