SOLUTION: Suppose you want to buy a $160,000 home. You found a bank that offers a 30-year loan at 5.1% APR. What will be your monthly payment? (Round to the nearest cent.) $ How m

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Question 1201622: Suppose you want to buy a $160,000 home. You found a bank that offers a 30-year loan at 5.1% APR.
What will be your monthly payment? (Round to the nearest cent.)
$

How much would you end up paying the bank for the home after 30 years? (Round to the nearest cent.)
$

Suppose you wanted to reduce the time of your loan to 25 years. What would be your new monthly payment? (Round to the nearest cent.)
$

How much would you end up paying the bank for the home after 25 years? (Round to the nearest cent.)
$

How much did you save by reducing the time of your mortgage loan? (Round to the nearest cent.)
$
Answer by ikleyn(52858) About Me  (Show Source):
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