You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 30-year mortgage at 3.25% annual interest rate for the cost of the house after they receive a 20% down payment.   How much interest will they have paid? How many of her monthly payment go toward the interest? What percent increase over the cost of the home does this interest represent?   Redo and re-answer all questions, but this time for 15 years?

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Q: You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 15-year…

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Q: You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 30-year…

A: Amount to be financed = Cost of house - Down payment = $415,000 - ($415,000*20%) = $332,000 Nos of…

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Q: You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 30-year…

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Q: You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 15-year…

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Q: You are looking to buy a $415,000.00 home in Haverhill. If Bank of America will give them a 15-year…

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Q: The cost to purchase the house that Bainters are considering is $195,000, but the Bainters plan to…

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