Nellie wants to buy a $509,000.00 house. She makes a $120,000.00 down payment and takes out a 15-year mortgage to pay for the rest. Her monthly mortgage payment is $4,050.00. a) What is the principal of her mortgage? Principal $ b) How much interest will she pay over the life of her loan? Total interest $ c) How much will she pay in total for her house?
Nellie wants to buy a $509,000.00 house. She makes a $120,000.00 down payment and takes out a 15-year mortgage to pay for the rest. Her monthly mortgage payment is $4,050.00. a) What is the principal of her mortgage? Principal $ b) How much interest will she pay over the life of her loan? Total interest $ c) How much will she pay in total for her house?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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D2L Understanding Loans and Simple Interest - 21516 MAT142 Topics In Coll...
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1
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2
Tiana Klughart
Nellie wants to buy a $509,000.00 house. She makes a $120,000.00 down payment
and takes out a 15-year mortgage to pay for the rest. Her monthly mortgage payment
is $4,050.00.
a) What is the principal of her mortgage?
Principal
$
b) How much interest will she pay over the life of her loan?
Total interest
$
c) How much will she pay in total for her house?
Total paid
$
CHECK ANSWER
d2l.pima.edu
D2L 5.2 Understanding Loans and Simple Interest - 21516 MAT142 Topics...
7
3
Q
$
4
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Transcribed Image Text:fari File
D2L Understanding Loans and Simple Interest - 21516 MAT142 Topics In Coll...
IMG_384
Edit View History Bookmarks Window Help
IMG_38
esc
1
<
2
Tiana Klughart
Nellie wants to buy a $509,000.00 house. She makes a $120,000.00 down payment
and takes out a 15-year mortgage to pay for the rest. Her monthly mortgage payment
is $4,050.00.
a) What is the principal of her mortgage?
Principal
$
b) How much interest will she pay over the life of her loan?
Total interest
$
c) How much will she pay in total for her house?
Total paid
$
CHECK ANSWER
d2l.pima.edu
D2L 5.2 Understanding Loans and Simple Interest - 21516 MAT142 Topics...
7
3
Q
$
4
%
5
3D
6
&
7
e
8
9
Question 3 of 1
DEL Ch
www.
1
www
.
1
C
S
0
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