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You must show work ( using the formulas from class where applicable ) to receive credit. 1 7 . ( 1 0 pts ) A
You must show work using the formulas from class where applicable to receive credit.
pts A couple purchased a $ house by making a down payment of $ and financing the remaining balance $ with a year mortgage at compounded monthly. The couple's mortgage payment is $ per month.
a How much equity will the couple have in the house after years of payments? Round your final answer to decimal places.
b What is the total amount of interest paid by the couple over the lifetime of the loan? Round your final answer to decimal places.
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