You bought a house with price of $500,000. Your LTV (loan-to-value ratio) is 80%. You choose the 30-year mortgage with i

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answerhappygod
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You bought a house with price of $500,000. Your LTV (loan-to-value ratio) is 80%. You choose the 30-year mortgage with i

Post by answerhappygod »

You bought a house with price of $500,000. Your LTV
(loan-to-value ratio) is 80%. You choose the 30-year mortgage with
interest rate 5%. Assuming the total transaction cost is
$15,000.
What will be your interest payments for the first 5 years?
58,054.80
13,891.20
32,685.33
96,152.07
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