You are borrowing $500,000 to buy a house. The interest rate is 3% compounded monthly. The downpayment is 20% of the total amount. What is the difference in monthly payments between a 20 year and a 30...


You are borrowing $500,000 to buy a house. The interest rate is 3% compounded monthly. The downpayment is 20% of the total amount. What is the difference in monthly payments between a 20 year and a 30 years mortgage?  What is the difference in interest paid? What is the amount of monthly payments in both cases



Jun 07, 2022
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