Question #170491

Suppose that 10 years ago you bought a home for $170,000, paying 10% as a down payment, and financing the rest at 9% interest for 30 years.


Your existing mortgage (the one you got 10 years ago)


How much money did you pay as your down payment?


$

  


1

Expert's answer

2021-03-11T06:32:43-0500

down payment=10/100×170,000=$17,000=10/100\times170,000=\$17,000


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Comments

Assignment Expert
12.03.21, 21:36

Dear Thamar, please use the panel for submitting new questions.

Thamar
11.03.21, 16:03

Suppose that 10 years ago you bought a home for $130,000, paying 10% as a down payment, and financing the rest at 7% interest for 30 years. Your existing mortgage (the one you got 10 years ago) How much money did you pay as your down payment? How much money was your existing mortgage (loan) for? What is your current monthly payment on your existing mortgage? How much total interest will you pay over the life of the existing loan?

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