You want to buy a $200,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan for the rest. a. How much is the loan amount going to be? b. What will your monthly payments be if the interest rate is 5%? c. What will your monthly payments be if the interest rate is 6%?

Answer rating: 100% (QA)

Required solution Ans aLoan amount Loan amount Purchase price of Home x 1 Percentage of down payme... View the full answer