Vivian wants to buy a house the house she wants is listed, Ask an Expert

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Vivian wants to buy a house. The house she wants is listed for $300,000. If she make 20% down payment, she can get a FRM at 7.2% for 30 years. And Vivian decides to find another house to buy. She negotiates a price of $250,000 for the new house. She also did some looking and found a bank who would only require a $50,000 down payment, but they would charge a higher interest rate of 8.5% for 30 years for the second house.

What is the total cost of the second house?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91783447

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