You want to buy a 300000 home with 20 down payment the, Ask an Expert

Engineering

You want to buy a $300,000 home with 20% down payment. The current compound interest rate is 4.5%.

a. Write a script to determine:

• the monthly payments for a 30 year loan,

• the equivalent simple interest rate,

• the total interest paid over the life of the loan.

b. Now, repeat the computation for a 15 year loan at 5%. Is this a better deal?

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Computer Engineering, Engineering

Category:- Computer Engineering
Reference No.:- M91976954

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