Mathematics, 27.09.2019 21:50 2023brewerantonio
victor earns a gross annual income of $84,482 and is buying a home for $185,500. he is making a 15% down payment and financing the rest with a 25-year loan at 4.25% interest.
a) what is the mortgage amount he will borrow?
b) can he afford this mortgage? justify your response.
c) what can his monthly mortgage payment be
d) for how many months will he pay for the house
e) what will his total payment for the house be?
f) what is the amount of interest he will pay?
Answers: 2
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victor earns a gross annual income of $84,482 and is buying a home for $185,500. he is making a 15%...
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