Home Loan Problems Set 6 Question 7
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Question 7
Gannon is buying a $460000 one bedroom house. He has decided to go with a loan from the First Federal Bank of Calif.. Gannon has saved up enough money to put down a 7 % deposit. The length of the mortgage is 15 years, with a fixed interest rate of 8.9 %.
[an error occurred while processing this directive]Calculate how much his total monthly payment is going to be.