Business, 29.06.2021 19:20 mathlady12

Suppose you are going to purchase a house. You negotiate a great deal and your bank agrees to lend you money for 30 years at 4% APR (annual percentage rate). HINT: For the monthly interest rate do 4/12 (4% divided by 12 months) and answer to 6 decimal places. Enter the answer in dollar format without $ sign or thousands comma -> 3519.23 and not $3,519.23 or 3,519.23 The house costs $300,000 and you pay 20% down and finance the rest. Compute (round it to 2 numbers after the decimal point for the answer inputs but not for interim steps)
(1) Monthly payment:
(2) The interest payment portion of 1st Monthly payment:
(3) The principal payment portion of the 1st Monthly payment:
(4) Balance after the 1st payment:

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Suppose you are going to purchase a house. You negotiate a great deal and your bank agrees to lend...