For this discussion, reflect on the following questions in your thread:

If you bought a home for $300,000 at a fixed 6% APR and put a down payment of $30,000 down, what would your monthly payment be for a 30-year mortgage and a 15-year mortgage? Excel is recommended for the calculations in this discussion.

Without taking into account inflation, what is the total amount of interest paid on the 30-year and 15-year mortgages?

Consider the 15-year mortgage for this question: You made an amazing recommendation that saved your company a lot of money and they rewarded you with a $5,000 bonus. You applied this bonus money to the 60^th payment of your mortgage (you also paid your monthly payment). How many payments will this shorten the length of your mortgage and how much will you save in interest?

Consider the 15-year mortgage for this question: You have found a way to save and apply an extra payment of $100 to each monthly payment throughout the duration of the loan. How many payments will this shorten the length of your mortgage and how much will you save in interest?