Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

Maria and John have been married for 2 years

/in /by

Maria and John have been married for 2 years and just learned that they are pregnant.
1. They have been renting a small apartment but decide to purchase a house.

They find one that is selling for $400,000. They decide to make a 20% down payment on a 30-year mortgage at 3.75%.

Answer each of the following questions separately, showing all your work to reach each answer.

a. How much will they need for the down payment?

b. What will be the mortgage amount (ie the principal)

c. How much will their monthly payment be for the principal and interest?

d. How much total interest will they pay if they take the full 30 years to pay off the mortgage?

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"