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You have agreed to purchase a home and pay a total of $350,000 for the home. If you finance this purchase with a 30-year, 5.5%
You have agreed to purchase a home and pay a total of $350,000 for the home. If you finance this purchase with a 30-year, 5.5% mortgage and put 20% down, your monthly payment will be $1,589.81.
(Round your answer to the nearest whole month (e.g. payment))
If you round up each payment and pay $1,800.00 per month, how many months will it take to pay off the mortgage?
If you round up each payment and pay $2,000.00 per month, how many months will it take to pay off the mortgage?
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