SOLUTION: A property is for sale at $375,000. The required down payment is %5, and a mortgage is arranged for 20 years at a fixed interest rate of 3.75%. Calculate the monthly payments.
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-> SOLUTION: A property is for sale at $375,000. The required down payment is %5, and a mortgage is arranged for 20 years at a fixed interest rate of 3.75%. Calculate the monthly payments.
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Question 608478: A property is for sale at $375,000. The required down payment is %5, and a mortgage is arranged for 20 years at a fixed interest rate of 3.75%. Calculate the monthly payments.
any help would be greatly appreciated. Answer by lynnlo(4176) (Show Source):
You can put this solution on YOUR website! house-$375,000.00
for 20 years which is(240 months)
monthly payment $1,562.50
$1,562.50x240 months =$375,000.00
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