Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Suppose you want to purchase a home for $375,000 with a 30-year mortgage at 5.94% interest. Suppose also that you can put down 25%. What are the monthly payments? (Round your answer to the nearest cent.)
$
What is the total amount paid for principal and interest? (Round your answer to the nearest cent.)
$
What is the amount saved if this home is financed for 15 years instead of for 30 years? (Round your answer to the nearest cent.)
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