Question
Savannah is buying a $190,000 home. She has been approved for a 3.28% mortgage rate. She was required to make a 20% down payment
Savannah is buying a $190,000 home. She has been approved for a 3.28% mortgage rate. She was required to make a 20% down payment and will be closing on the house on March 11. Her first mortgage payment is due April 1. A. How much was her down payment? B. How much did she finance? C. Determine the annual interest for the mortgage. D. What is the interest charged per day? E. How much should she expect to pay in prepaid interest?
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Financial Algebra Advanced Algebra With Financial Applications
Authors: Robert Gerver, Richard J. Sgroi
2nd Edition
1337271799, 978-1337271790
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