Vivian wants to buy a house. The house she wants is listed for $300,000, and she wants to avoid PMI insurance. She can get a fixed rate mortgage at 4.25% for 30 years. Dont worry about taxes and insurance for any of these questions, just keep in mind that those would need to be considered as well.

What down payment will she need?

If Vivian makes her down payment and takes out the loan described, what will be her monthly payment?

N		Explanation:
I/Y
PV
PMT
FV

If Vivian makes her down payment and takes out the loan described, what will be the total cost of the house?

What would be the total cost of the house if she took out a 15 year mortgage at 3.125%?

N		Explanation:
I/Y
PV
PMT
FV

What if Vivian can only pay a 10% down payment, what would her first monthly payment be for the 30 year mortgage at 4.25%? (For this example the PMI insurance cost is 1% of the loan amount per year.)

N		Explanation:
I/Y
PV
PMT
FV