Question: Please help with this question! 3) Find a vacation home that you would like to own on the internet. a) Paste a picture or screen
Please help with this question!

3) Find a vacation home that you would like to own on the internet. a) Paste a picture or screen shot in the box below using the "mountain" button to add the picture. The picture should include the following: i) Picture of the vacation home. ii) Sale price of the vacation home. Edit * Insert * Formats BIUXX A - AY 2041 NANLS G P b) Sale price of the vacation home = $ 3699000 c) If the loan agency requires a down payment of 20%, what will your down payment be? Remember to use the sale price from Part b. Down payment = $ Round your answer to 2 decimal places as needed. d) If you plan to finance the rest of the sale price, how much would the loan amount be? Loan amount = $ Round your answer to 2 decimal places as needed. e) What would the monthly mortgage payment be if your loan was a 2.9% 30 year fixed mortgage? Monthly mortgage payment = $ Round your answer to 2 decimal places as needed. f) How much will you actually pay for the home over 30 years including the down payment? Hint: Don't forget about the down payment! Total amount paid for vacation home = $ Round your answer to 2 decimal places as needed. g) How much of what you paid was interest? Amount of interest paid = $ Round your answer to 2 decimal places as needed
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
