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Mathematics, 31.01.2022 09:20 lex2556
Liz and Nick are buying a $225,000 home. They have been approved for a 5.5% APR, 30-year mortgage.
They made a 20% down payment and will be closing on March 11.
(Note: March has 31 days.)
a. What is their mortgage (loan) amount?
$
b. What is their interest on the loan for one year?
$
c. What is the daily interest?
$
d. How much should they expect to pay in prepaid interest at the closing?
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Liz and Nick are buying a $225,000 home. They have been approved for a 5.5% APR, 30-year mortgage....
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