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Suppose you want to buy a $147,000 home. You found a bank that offers a 30-year...

Suppose you want to buy a $147,000 home. You found a bank that offers a 30-year loan at 5.1% APR. What will be your monthly payment? How much would you end up paying the bank for the home after 30 years?

Suppose you wanted to reduce the time of your loan to 25 years. What would be your new monthly payment?

How much would you end up paying the bank for the home after 25 years?

How much did you save by reducing the time of your mortgage loan?

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jeff jeffy answered 1 year ago
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