Question
You are purchasing a home for $145,000. In order to get a 30 year fixed rate mortgage at 4.5% APR, the bank requires a 20%
You are purchasing a home for $145,000. In order to get a 30 year fixed rate mortgage at 4.5% APR, the bank requires a 20% down payment.
Assuming all payments are made exactly on time for the life of the loan,how much total will you pay for the home? How much interest is paid over the life of the loan?
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Survey Of Economics, Principles, Applications, And Tools
Authors: Arthur O'Sullivan, Steven M. Sheffrin, Stephen J. Perez
5th Edition
0132556073, 978-0132556071
