You want to buy a 4 -unit townhouse for $535,000 and give the seller $85,000 down. The seller finances the remaining $450,000 over 20 years at 6.5% interest. Assuming that your first monthly payment is due June 1 , what is the interest for the second calendar-year?

Answer rating: 100% (QA)

To calculate the interest for the second calendar year we first need to determine the monthly paymen... View the full answer