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suppose that 10 years ago you bought a home for $140,000, paying 10% as a down...

suppose that 10 years ago you bought a home for $140,000, paying 10% as a down payment, and financing the rest at 9% interest for 30 years.

a. how much money did you pay as your down payment?

b. how much money was your existing mortgage loan for?

c. what is your current monthly payment on your existing mortgage?
d. how much total interest will you pay over the life of the existing loan?
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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

ALL CALCUALTIONS ARE SHOWN

MONTHLY PAYMENT IS ROUNDED TO 2 DECIMALS

AND ROUNDED TO 3 DECIMAL FIGURE IS TAKEN IN CALCULATING INTEREST.

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