Consider the following scenarios.You may choose the location for each scenario.You will need to research the appropriate housing information for your chosen location, including mortgage rates with their corresponding down payment.Use technology to answer the questions at the end of each scenario description.

Scenario 2: A new couple buys their rst home. They plan to have a family so they buy a 5bedroom house. Since they are both working and do not have student loan debt, they decide they can afford the payments on the 15-year fixed-rate loan. After seven years, between day care costs and other family issues, the couple determines one person needs to stay home. As a result, they now have only one income. The couple can no longer afford the payments on the 15-year loan, so they finance the remaining balance for a 30-year xed-rate. They make the minimum payments for the next 10 years. At that time, the second person is able to go back to work. Now that they have a second income, the couple wants to help their children with the cost of college. They decide to keep their 30-year loan, but start making higher payments. How long did it take them to pay off the house from the original date of purchase? What is the total amount they pay for their house? How much total interest did they pay