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For mortgage rate, you can google it! since it's not giving thank you! The final problem. You are purchasing a home for $300,000 in the
For mortgage rate, you can google it!
since it's not giving thank you!
The final problem. You are purchasing a home for $300,000 in the greater Boston area. You need to find a mortgage. The mortgage rate will vary with the amount you put down and the length of the loan. Also, if you put down less than 20% you will have to pay Private Mortgage Insurance (PMI). Find 4 mortgages, one with 5% down and a 15 year payoff (if you can), 5% down with a 30year payoff, and do the same with 20% down and fill out the accompanying chart. Term 15 Year (5% down) $285,000 30 Year (5% down) $285,000 15 Year (20% down $240,000 30 Year (20% down $240,000 Amount Financed Interest Rate Monthly Principal and Interest PMI Total Monthly Payment Total Cost of Home $237.50 $237.50 0 0Step by Step Solution
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