Search in your area to find your dream home that is for sale and note the asking

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Search in your area to find your “dream home” that is for sale and note the asking price. Next, search the websites of local lenders to find the best interest rates for both a 15-year fixed mortgage and a 30-year fixed mortgage. Assume that you make a 20% down payment; then calculate and compare the monthly payments of principal and interest for both the 15-year mortgage and the 30-year mortgage. Using an amortization calculator, compare the total amount of interest paid on the 15-year mortgage and on the 30-year mortgage. Write a report summarizing your findings.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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