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You need to save enough for a down payment, usually 1020% of the purchase price, for this project use 20%:$ Savings per month to achieve this goal in months: $ (use the number of years stated above converted to months and round up to the nearest cent as needed). When purchasing the home, you would then finance $ for years (choose from either 15,20 , or 30 ) at % APR compounded monthly from (bank name). Monthly payment: $ i=12.06=.005n=30 Calculation: With this payment, how much will you eventually pay for your house? (monthly payment x months + down-payment) $ Calculation: Suppose you could only afford to pay half the monthly payment you found above. How long would it take to pay off the mortgage? You need to save enough for a down payment, usually 1020% of the purchase price, for this project use 20%:$ Savings per month to achieve this goal in months: $ (use the number of years stated above converted to months and round up to the nearest cent as needed). When purchasing the home, you would then finance $ for years (choose from either 15,20 , or 30 ) at % APR compounded monthly from (bank name). Monthly payment: $ i=12.06=.005n=30 Calculation: With this payment, how much will you eventually pay for your house? (monthly payment x months + down-payment) $ Calculation: Suppose you could only afford to pay half the monthly payment you found above. How long would it take to pay off the mortgage

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