Karen Guardino is purchasing a brownstone townhouse for ?$1, 550,000. The mortgage broker she is working with is requiring her to make a 20?% down payment. The current mortgage rate is 6.0?%. ?
Monthly Principal 30 years at 6.5% is 6.32068
a) Determine the amount of the required down payment is $____________
b) The monthly mortgage payment is ?$_________ Round to the nearest cent as? needed.)