You are looking to purchase a new home that is listed at $315,100. You have saved...

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You are looking to purchase a new home that is listed at $315,100. You have saved enough to make a 20% downpayment, so the loan amount will be 80% of the purchase price. You are talking to a lender about a 4.0% interest rate loan for 30 years that amortizes monthly. What is your monthly debt service? You are looking to purchase a new home that is listed at $315,100. You have saved enough to make a 20% downpayment, so the loan amount will be 80% of the purchase price. You are talking to a lender about a 4.0% interest rate loan for 30 years that amortizes monthly. What is your monthly debt service?

Answer rating: 100% (QA)

TOTAL AMOUNT 315100 LOAN AMOUNT 31510008 LOAN AMOUNT 252080 ANNUAL INTEREST 4 MONTHLY INTERES... View the full answer