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Question 6 10 pts 6. Francisco & Fraidy Farfrumter are planning to purchase their first home in Funland, Florida. The purchase price of the house
Question 6 10 pts 6. Francisco & Fraidy Farfrumter are planning to purchase their first home in Funland, Florida. The purchase price of the house is $865,000 and Florida National Bank will be lending them 85% of the purchase price. The bank is charging them an APR of 4.82% over a 25-year period with monthly payments and the first payment is due one month from today. How much is each monthly payment? How much total interest in dollars will they be paying over the 25-year period ? (Note: you do not need to construct an Amortization Schedule to calculate this amount) Edit View Insert Format Tools Table 12pt v Paragraph B I UA 2 T2 + O words
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