Question: Question 1 : You borrow $ 5 0 0 , 0 0 0 to buy a house using a 3 0 - year loan. The
Question : You borrow $ to buy a house using a year loan. The mortgage rate is annually, payments are monthly and occur at the end of the month. If you pay for the house according to the loan agreement, how much total interest will you pay? Answer without a $ sign, without a or sign, and to two decimal places.
Question : Molly is able to pay $ a month for a year mortgage with end of month payments. Because of a family gift, Molly can make a cash down payment to purchase a house. If the interest rate is then how much house can Molly afford to buy? Answer without a $ sign, without a or sign, and to two decimal places.
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