Question
You have decided to purchase a house for $225,000 and are evaluating your options for the mortgage. Assume that your down payment will be 20%
You have decided to purchase a house for $225,000 and are evaluating your options for the mortgage. Assume that your down payment will be 20% of the purchase price, payments will be made monthly, and the first payment will be made one month from today. If you select the 30-year mortgage, the interest rate will be 4.50% annually. What is the total of all payments for each mortgage?
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Municipal Finances A Handbook For Local Governments
Authors: Catherine D. Farvacque-Vitkovic, Mihaly Kopanyi
1st Edition
082139830X, 978-0821398302
