A couple has decided to purchase a $170000 house using a down payment of $20000. They...

 

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A couple has decided to purchase a $170000 house using a down payment of $20000. They can amortize the balance at 5% over 20 years. a) What is their monthly payment? Answer = $ b) What is the total interest paid? Answer = $ c) What is the equity after 5 years? Answer = $ d) What is the equity after 15 years? Answer = $ A couple has decided to purchase a $170000 house using a down payment of $20000. They can amortize the balance at 5% over 20 years. a) What is their monthly payment? Answer = $ b) What is the total interest paid? Answer = $ c) What is the equity after 5 years? Answer = $ d) What is the equity after 15 years? Answer = $

Answer rating: 100% (QA)

a The balance of the mortgage is the purchase price minus the down payment which is 17000020000 1500... View the full answer