Question

Maya wants to buy a house for $275,000 by taking out a 30-year fixed-rate mortgage with an interest rate of 6%. She plans on making a down payment of either $25,000 or $45,000. By how much will she lower her mortgage payment if she makes the larger down payment?

Answer 1

Hello,

First you have to multiply $275,000 x 30 x 6% = $495,000.

then 495,000 x 6% = 29,700.

That is the answer it is between 25,000 - 45,000....

Hope I Helped!!!

Answer 2

Answer:

First you have to multiply $275,000 x 30 x 6% = $495,000.

then 495,000 x 6% = 29,700.

That is the answer it is between 25,000 - 45,000....