y un bills, you make a down payment of $250 000. The mortgage on your...
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y un bills, you make a down payment of $250 000. The mortgage on your new home is $349 900. The mortgage will be amortized over 25 years at a rate of 5.32%. Use a TVM solver or an online calculator to determine the monthly mortgage payment. N: 1%: PV: PMT: J FV: P/Y: C/Y: PMT: END BEGIN J b) If you made monthly payments for 25 years, what is the total amount that you would repay the bank? c) What is the total amount of interest that you would pay? d) What is the total amount that you would pay for your home, including the down payment? 544400 f
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