Question: Answer the following questions? 35. A computer store sells for $1,200,000. The buyer made a 30% down payment and secured a 20- year mortgage on

Answer the following questions?

Answer the following questions? 35. A computer store sells for $1,200,000. Thebuyer made a 30% down payment and secured a 20- year mortgage

35. A computer store sells for $1,200,000. The buyer made a 30% down payment and secured a 20- year mortgage on the balance at 5.5%. (a) Find the down payment. (b) Find the amount of the mortgage. (c) Find the monthly payment. (d) Find the total interest paid. 36. A grocery store sells for $550,000 and a 25% down payment is made. A 40-year mortgage at 6% is obtained. (a) Find the down payment. (b) Find the amount of the mortgage. (c) Find the monthly payment. (d) Find the total interest paid. 37. Find the monthly payment on the loan in Problem 29 if the term is reduced to 15 years. How much will be saved in total interest?29. A house sells for $145,000 and a 15% down payment is made. A mortgage was secured at 7% for 25 years. (a) Find the down payment. (b) Find the amount of the mortgage. (c) Find the monthly payment. (d) Find the total interest paid. 30. A house sells for $182,500 and a 5% down payment is made. A mortgage is secured _page 426 at 7% for 15 years. (a) Find the down payment. (b) Find the amount of the mortgage. (c ) Find the monthly payment. (d) Find the total interest paid. 31. A building sells for $200,000 and a 40% down payment is made. A 30-year mortgage at 6% is obtained (a) Find the down payment. (b) Find the amount of the mortgage. (c) Find the monthly payment. (d) Find the total interest paid. 32. An ice cream store sells for $125,000 and a 12% down payment is made. A 25-year mortgage at 7.5% is obtained. (a) Find the down payment. (b) Find the amount of the mortgage. (c) Find the monthly payment. (d) Find the total interest paid. 33. An auto parts store sells for $325,000 and a 10% down payment is made. A 40-year mortgage at 7.5% is obtained, and closing costs are $3,200. (a) Find the down payment. (b) Find the amount of the mortgage. (c) Find the monthly payment. (d) Find the total interest paid

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