upon graduation you decide to purchase a house. after looking at many options you find a house you like at a price of 153000. however you only have 40000 that you can put towards the purchase of this house. you finance the remained under a 30 year mortgage. under the terms of this mortgage, you need to pay an interest rate (apr) of 4.5% compounded monthly.

what is your monthly mortgage payment?

after ten years you decide to sell the house and pay off the balance on your mortgage. how much do you need to pay your lender?