Question: can someone help please [ 20 points] May took a $200,000 construction loan to build a new house. The house will be built over a

can someone help please [ 20 points] May took a $200,000

can someone help please

[ 20 points] May took a $200,000 construction loan to build a new house. The house will be built over a 20 month period. During the construction period, the loan will attract only simple interest at the rate of 74 % per month. May plans taking a mortage on the new house (the loan balance that include the 20 month interest) after the construction of the house. Since she has been saving for this house, she plans putting down 20% of the value of the house before signing the deal (assume the value of the house is the loan balance after construction). With a 750 credit score, she was able to get a 3% per year compounded monthly for 30 years. Draw the CFD What will be her monthly paytment? How much interest will she pay after paying off this loan

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