6. A condominium in Hawaii sells for $535,000 with a required 25% down payment.

(a) Find the monthly payments for a loan lasting 15 years and 30 years with an interest rate of 2.47%. (8 points)

(b) Find the finance charges for each of the loans. (2 points)

(c) Determine the total amount of money the buyer will be paying (mortgage payments and finance charge) for the 15 year and 30-year loan. (2 points)

(d) How much money will the actual condominium cost once the 15 year and 30-year loans are payed off?

(2 points)

6. A condominium in Hawaii sells for $535,000 with a required 25% down payment. (a) Find the monthly payments for a loan lasting 15 years and 30 years with an interest rate of 2.47%. (8 points) (b) Find the finance charges for each of the loans. (2 points) (c) Determine the total amount of money the buyer will be paying (mortgage payments and finance charge) for the 15 year and 30- year loan. (2 points) (d) How much money will the actual condominium cost once the 15 year and 30-year loans are payed off? (2 points)