Question: problem number 28 26. Determine the monthly payment for a 30-year real estate loan with an APR of 8.5% and an initial principal of $200,000.

problem number 28

26. Determine the monthly payment for a 30-year real estate loan with an APR of 8.5% and an initial principal of $200,000. How much interest is paid over the life of the loan? 27. Determine the monthly payment for a 60-month truck loan with an APR of 11% and an initial principal of $17.000. How much interest is paid over the life of the loan? 28. The real estate in Problem 26 is to be purchased with a 15-year loan with an APR of 8.5%. What is the difference in the monthly payments for the 15-year and 30-year loans? How much does using the 15-year loan save in interest

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