1. Ella Funt is planning on buying a $160,000 home and putting 20% down. She will finance the remainder with a 4%, 15 year mortgage through her lender.What will the total interest cost be for Ellas 15 year mortgage?

(This problem requires the M-1 or M-2 or M-3 table.)

$54,204

$42,428

$37,458

$34,166

2. Billie Goat sat down and figured out that her total liabilities equaled $120,000 and her total assets equaled $200,000.What is Billies Solvency Ratio?

60%

40%

67%

33%