Mortgages, loans taken to purchase a property involve regular payments at fed intervals and are treated as reverse annuities Mortgages are the reverse of annuities, because you get a lump sum amount as a loan in the beginning, and then you make months to the lender mu ve dedded to buy a house that is valued at $1 million. You have 1250,000 to use as a down payment on the how, and want to take out mortgage for the remainder of the purchase prices. Your bank has proved your $750,000 mortgage and is offering standard - year mora Lo fed nominal interest rate (called the loan's annual percentage rate of APR). Under this to proposal, you mortgagement will be per month (Note: Round the final value of any interest rate in percentageform to four decimal peces Your friends suggest that you take a 15 war mitong, because a 30-year mortgage is too long and you will pay a lot of money on interest if you tronk approves a 15 year $750,000 fans afined nominal interest rate of 10% (AR), then the difference in the monthly payment of the 15-year mortgage and 30-year motoage will be (Note: Hound the final value of any integrate in percentage form to four decimal places) it is key that you won't be there of aving more money each month, but you do take out is year, or will be tarter payments and will pay a lot less in interest. How much more to interest will you were to of the land it you take out over more Instead of a 15-armortowe $1,083,545.00 $1,207.197.70 1918,259,20 O $1.175,371,7 Which of the following statement is not true to manager The ending balance of an old town contact will be Thement located toward incipal in nation is the residence-what is the ofference between the interest Mortgages always have a few interest Mange of amid fans