Concept explainers
(a)
The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.
(b)
The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.
(c)
The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.
(d)
The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.
(e)
The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.
(f)
The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.
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