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Corinne purchased a house for $112,000.00. She agreed to make a 20% down payment and to finance the rest for 15 years at an APR

Corinne purchased a house for $112,000.00. She agreed to make a 20% down payment and to finance the rest for 15 years at an APR of 5%.

How much is the down payment?

What is the amount financed?

Use Table 14-1 to calculate the monthly payment.

What is the total of all the monthly payments?

What is the total paid?

How much of the total is the finance charge?

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