You want to buy a $253,000 home. You plan to pay 20% as a down payment, and take out a 4% APR loan for the rest.

a) How much is the loan amount going to be?

$

b) What will your monthly payments be if the length of the loan is 10 years?

$

c) What will your monthly payments be if the length of the loan is 20 years?

$

d) Over the course of the entire loan, how much more do you end up paying with the longer loan? (Hint: take the difference of the total amounts paid)