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Youtakeouta30-yearfixedratemortgagefor$500,000.Therateontheloanis4%.Whatwillbeyourmonthlypayments(assumenotaxesandmonthlycompounding). What will be your monthly payments on a 15-year loan with the same terms.

  1. Youtakeouta30-yearfixedratemortgagefor$500,000.Therateontheloanis4%.Whatwillbeyourmonthlypayments(assumenotaxesandmonthlycompounding).
  2. What will be your monthly payments on a 15-year loan with the same terms.

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