HW$20$: Problem $2$

$(1$ point$)$

A couple has decided to purchase a $$90000$ house using a down payment of $$16000.$ They can amortize the balance at $9\%$ over $30$ years.

a$)$ What is their monthly payment?

Payment $=$$

b$)$ What is the total interest paid?

Total interest paid $=$$

c$)$ What is the equity after $5$ years?

Equity after $5$ years $=$$

d$)$ What is the equity after $25$ years?

Equity after $25$ years $=$$