Question: Please Double Check, I keep getting different answers. Pls show all work. and double-check, I cant say it enough. Show work Suppose you currently have

Please Double Check, I keep getting different answers. Pls show all work. and double-check, I cant say it enough. Show work

Suppose you currently have $150,000 and you want to buy a house which will cost about $1,000,000. You figure you need to have a 20% down payment plus an additional 5% of the loan amount for closing costs. If you invest in stock A, you can earn 7.5% per year.

Question: Assume that you need to pay a monthly payment for your mortgage loan for 30 years, and the monthly rate is 0.3%, how much do you need to pay every month?

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