You want to buy a $182,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan at 4.3% interest for
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You want to buy a $182,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan at 4.3% interest for
You want to buy a $182,000 home. You plan to pay 20% as a downpayment, and take out a 30 year loan at 4.3% interest for therest.a) How much is the loan amount going to be?$b) What will your monthly payments be?$c) How much total interest do you pay?$d) Suppose you want to pay off the loan in 15 years rather than 30.What will your monthly payment be?$e) How much money in interest will you save if you finance for 15years instead of 30 years?$