(python) Question 1: Buy a House!

Pick a house you want to buy and figure out how much money you need to borrow from the bank.

Part A (3 pts)

Create a fixed 5% loan for 30 years and compute how much is owed on each loan after 5, 10, 15, and 20 years.

In [ ]:

# YOUR CODE HERE

raise NotImplementedError()

Part B (3 pts)

Create a "teaser mortgage" that has a 3.5% rate for 5 years and then 7% for the remaining 25 years and compute how much is owed on each loan after 5, 10, 15, and 20 years.

In [ ]:

# YOUR CODE HERE

raise NotImplementedError()

Question 2: When is half paid off?

Part A (2 pts)

For your mortgage in Part A of Q1, compute how many months it takes to pay off half of the principal.

In [ ]:

# YOUR CODE HERE

raise NotImplementedError()

Part B (2 pts)

For your mortgage in Part B of Q1, compute how many months it takes to pay off half of the principal.

In [ ]:

# YOUR CODE HERE

raise NotImplementedError()