Question
Question: Suppose that 10 years ago you bought a home for $140,000, paying 10% as a down payment, and financing the rest at 7% interest
Question: Suppose that 10 years ago you bought a home for $140,000, paying 10% as a down payment, and financing the rest at 7% interest for 30 years. Your existing mortgage (the one you got 10 years ago)
A) How much money did you pay as your down payment? $?
B) How much money was your existing mortgage (loan) for? $?
C) What is your current monthly payment on your existing mortgage? $? Note: Carry at least 4 decimal places during calculations, but round your final answer to the nearest cent.
D) How much total interest will you pay over the life of the existing loan? $?
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