You are applying for a mortgage loan at 5.75% over 30 years with monthly payments. The home you are considering is at a price of $329,000. Lenders are offering 80% loan to value mortgages to you. What will be your monthly mortgage payment for principal and interest?

11. what was the original balance of the loan?

a. $263,200

b. Cannot determine given these facts

c. $223,200

d. $183,200

12. how much interest would you pay during the full life of the loan ?

a. $185,703

b. $141,244

c. $289,747

d. $245,712