In this project, you will need to print out one realty listings on Realtor.com (or some other similar website). You can choose a house of your dreams or choose a more affordable, realistic purchase such as a/an condo/apartment/studio or even a small family home. I would recommend a house in an area where you would like to settle in as well. Remember, you want to be somewhat realistic in what you would like to purchase. Address of the property you're interested in buying: Price of the property: ......... Percent Down Payment: Amount Down Payment: .. Amount Mortgaged: ........ You can calculate the monthly payment using the formula for amortization: R=- (Remember, n= 12, since monthly payments are being made.) We would like to compare different buying options, comparing how percentage changes your monthly payments and how time changes the monthly payments. Fill out the following information to make your informed decision. Notice, that unlike our "Buying a Car Project", this loan is amortized. This means that each monthly payment includes the interest for the amount owed, which is re-calculated each month. Making addition payments on your mortgage will bring down the interest paid to the bank and the number payments that you will need to make on the loan. Amortized Loan at 3.75% and 15 years Amount Mortgaged (PRINCIPAL): APR (RATE): Length of loan in years (TIME): Monthly Payment: Interest Paid on the loan