Question: ANSWER BOTH PLS ASAPPP You are considering purchasing a new home. You will need to borrow $240,000 to purchase the home. A mortgage company offers

ANSWER BOTH PLS ASAPPP ANSWER BOTH PLS ASAPPP You are considering purchasing a new home.

You are considering purchasing a new home. You will need to borrow $240,000 to purchase the home. A mortgage company offers you a 15-year fixed rate mortgage ( 180 months) at 6% APR (0.5% month). If you borrow the money from this mortgage company, your monthly mortgage payment will be closest to: A. $3,240 B. $2,835 C. $1,620 D. $2,025 Owen expects to receive $26,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of 6.6%, how much money can he borrow from the bank on the basis of this information? A. $27,716 B. $12,195 C. $1,716 D. $24,390

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