Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If Brian wants to buy a house that cost $170000 the bank agreed to give him 80% of cost at 0.08 annual interest on a

image text in transcribed

image text in transcribed

If Brian wants to buy a house that cost $170000 the bank agreed to give him 80% of cost at 0.08 annual interest on a 15-year loan, what is his monthly payment? what is the monthly loan payment? 1324.068 what is the interest paid in the first month? 1568.512 what is the principal paid in the first month? 1324.068 what is the interest paid in the second month? 1568.512 what is the principal paid in the second month? 1324.068 what is the total interest that was paid over th life of the loan? 102332.27 If Brian wants to buy house that cost $170000 the bank agreed to give him 80% of cost at 0.08 annual interest on a 15-year loan, what is his monthly payment? what is the monthly loan payment ? 1324.068 what is the interest paid in the first month? 1568.512 what is the principal paid in the first month? 1324.068 what is the interest paid in the second month? 568.512 what is the principal paid in the second month? 1324.068 what is the total interest that was paid over the life of the loan? 102332.27

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Handbook Of Digital Currency Bitcoin Innovation Financial Instruments And Big Data

Authors: David Lee Kuo Chuen

1st Edition

0128021179, 978-0128021170

More Books

Students also viewed these Finance questions

Question

2. What efforts are countries making to reverse the brain drain?

Answered: 1 week ago