Lisa just purchased a house in West Vancouver with the down payment of $300,000 and a 25-year mortgage.  Currently, her monthly payment is $3,500 and her mortgage rate is 3.27% annually.    

 

a. Amount she paid for her house?

b. The balance of her mortgage after 12 payments? 

c. The principle payment and interest payment of the 24^th payment? 

Answer rating: 100% (QA)

a Down Payment Mortgage amount Let P denote the principal loan amount We are given that the down payment is 300000 and the property value isnt explici... View the full answer