1 a homeowner takes out a 367000 30-year fixed-rate, Ask an Expert

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1. A homeowner takes out a $367,000, 30-year fixed-rate mortgage at a rate of 5.45 percent. What are the monthly mortgage payments?

2. A 20-year, $190,000 mortgage has a rate of 4.8 percent. What are the interest and principal portions in the first payment? What are the interest and principal portions in the second payment?

3. A homeowner takes a 30-year fixed-rate mortgage for $140,000 at 8.2 percent. After thirteen years, the homeowner sells the house and pays off the remaining principal. How much is the principal payment?

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Financial Management, Finance

Category:- Financial Management
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