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Jenelle bought a home for $340,000, paying 16% as a down payment, and financing the rest at 4% interest for 30 years. Round your answers
Jenelle bought a home for $340,000, paying 16% as a down payment, and financing the rest at 4% interest for 30 years. Round your answers to the nearest cent.
- How much money did Jenelle pay as a down payment? $
- What was the original amount financed? $
- What is her monthly payment? $
- If Jenelle makes these payments every month for thirty years, determine the total amount of money she will spend on this home. Include the down payment in your answer. $
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