Asked by marie
Determine the regular payment amount, rounded to the nearest dollar.
The price of a home is $160,000. the bank requires a 15% down payment. The buyer is offered two mortgage options: 1 year fixed at 8% or 30-year fixed at 8%. Calculate the amount of interest paid for each option. how much does the buyer save in interest with the 15-year option?
The price of a home is $160,000. the bank requires a 15% down payment. The buyer is offered two mortgage options: 1 year fixed at 8% or 30-year fixed at 8%. Calculate the amount of interest paid for each option. how much does the buyer save in interest with the 15-year option?
Answers
Answered by
bobpursley
down payment: .15*160,000
fixed at 8percent, one year see calculator
fixed 30 year, at 8 percent see calculator.
http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx
fixed at 8percent, one year see calculator
fixed 30 year, at 8 percent see calculator.
http://www.bankrate.com/calculators/mortgages/loan-calculator.aspx
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