Chapter 9: Financial Planning Problems #2 Calculating Security Deposit Interest. Many locations require that renters be paid interest on their security deposits. If you have a security deposit of $1,800, how much would you expect a year at 3 percent? #3 Calculating Condo Monthly Fees. Condominiums usually require a monthly fee for various services. At $235 a month, how much would a homeowner pay over a 10-year period for living in this housing facility? #6 Comparing Total Mortgage Payments. Which mortgage would result in higher total payments? Mortgage A: $970 a month for 30 years Mortgage B: $760 a month for 5 years and $1,005 for 25 years #8 Evaluating a Refinance Decision. Kelly and Tim Browne plan to refinance their mortgage to obtain a lower interest rate. They will reduce their mortgage payments by $83 a month. Their closing costs for refinancing will e $1,670. How long will it take them to recover the cost of refinancing