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6) Today, most banks allow you to finance a house for 10, 15, or 30 years. Suppose you are buying a house that costs $150,000.
6) Today, most banks allow you to finance a house for 10, 15, or 30 years. Suppose you are buying a house that costs $150,000. The bank offers a loan for 7.5% compounded monthly a) How much would your monthly payments be if you financed your home for 10 years? Formula used: Final answer: b) How much did you end up paying for your home? c) How much would your monthly payments be if you financed your home for 15 years? Formula used: Final answer: d) How much did you end up paying for your home? 10) Using your answers to numbers 6b and 9c, how much money did making a $2,000 down payment save you
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