Question
You want to buy a $400,000 home. Your lender gives you a 30-year loan option of a 20% downpayment and a 2.875% APR. For this
You want to buy a $400,000 home. Your lender gives you a 30-year loan option of a 20% downpayment and a 2.875% APR.
For this mortgage option, calculate:
(a) Down payment amount
(b) Amount financed
(c) Monthly payment
(d) Total amount paid for the home (don't forget the down payment)
(e) Total amount of interest
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Quantitative Investment Analysis
Authors: Richard A. DeFusco, Dennis W. McLeavey, Jerald E. Pinto, David E. Runkle
3rd edition
111910422X, 978-1119104544, 1119104548, 978-1119104223
