Question
Using your financial calculator, answer the following. Go to 4 decimal points on all answers. Terence and Bradley are both buying new homes. Each of
Using your financial calculator, answer the following. Go to 4 decimal points on all answers.
Terence and Bradley are both buying new homes. Each of their homes are being purchased for $350,000 and each are putting down 20%.
Terence is getting a 30 year mortgage for 5.5%
Bradleys 30 year mortgage is 4.75%
15. What is Terences monthly payment?
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16. What is Bradleys monthly payment?
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17. How much interest will Terence pay over the life of the loan?
18. How much interest will Bradley pay over the life of the loan?
19. What is the difference in total interest payments between Terence & Bradley?
20. Please provide two ideas that Terence can use to help lower his interest rate.
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Investing In Fixed Income Securities Understanding The Bond Market
Authors: Gary Strumeyer
1st Edition
0471465127, 9780471465126
