infinite mathematics discussion post

1. Chose a flyer for a house to buy. Use the price they are asking for the house in this discussion.

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2. You have saved enough money to put a 20% down payment on the house. Calculate the down payment.

3. Calculate how much of the price of the house you are going to mortgage.

4. You have found a bank that will give you a mortgage at 5.5% for 30 years. Determine the monthly payment using the Principal and Interest Payment Formula.

5. Calculate the total amount you will pay in payments for the house if you keep the house for the entire 30 years.

6. Calculate the total amount of interest you will pay for the house.