Question
You have purchased a home for $200,000 with a down payment of 10 percent. Prevailing mortgage interest rates are 4.5 percent. If you finance the
You have purchased a home for $200,000 with a down payment of 10 percent. Prevailing mortgage interest rates are 4.5 percent. If you finance the home for 30 years, what is your monthly payment?
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If you finance it for 20 years, what is your monthly payment?
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If you finance it for 15 years, what is your monthly payment?
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Assuming you choose a 20-year payment period and your annual real estate taxes are $2,000, what is your monthly payment including real estate taxes?
Assuming that your annual home insurance premium is $600, what is your monthly payment including principal, interest, taxes, and insurance (PITI)?
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