Question: You put down 20% on a home with the purchase price of $300,000. The down payment is thus $60,000, leaving a balance owned of $240,000.

You put down 20% on a home with the purchase price of $300,000. The down payment is thus $60,000, leaving a balance owned of $240,000. The bank will loan you the remaining balance at 4.28% APR. You will make annual payments with a 20-year payment schedule. What is the annual annuity payment under this schedule?

Question 26 options:

A)	$18,100.23

B)	$22,625.29

C)	$$12,000.00

D)	$33,785.23

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