S Harriet Marcus is concerned about the financing of a home. She saw a small cottage...
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S Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $50,000. Assuming that she puts 20% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption? (Use the Table 15.1) Note: Do not round intermediate calculations. Round your answers to the nearest cent. Monthly payment Total cost of interest a. 25 years, 3% b. 25 years, 3.5% c. 25 years, 3.75% d. 25 years, 4% e. What is the savings in interest cost between 3% and 4%? Note: Round your answer to the nearest dollar amount. Interest cost S Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $50,000. Assuming that she puts 20% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption? (Use the Table 15.1) Note: Do not round intermediate calculations. Round your answers to the nearest cent. Monthly payment Total cost of interest a. 25 years, 3% b. 25 years, 3.5% c. 25 years, 3.75% d. 25 years, 4% e. What is the savings in interest cost between 3% and 4%? Note: Round your answer to the nearest dollar amount. Interest cost
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