Your parents are buying a house for $180,000. They have a good credit rating, are making a 20% down payment, and expect to pay $1,500/month. The interest rate for the motrgage is 4%. What must their realized income be before each month and how much interest is accrued at the end of the second month? (6 points: 2 points for correct answer, 4 points for showing work)
3 answers