You bought a house for 130000 using a 20 year mortgage at


You bought a house for $130,000 using a 20 year mortgage at 5.5% interest to be paid monthly. What is your payment? Your parents agree to give you $10,000 toward your home. They offer either to make a down payment or paying off the final $10,000. A. Which do you prefer? B. How much does your payment go down in the better option? C. How much do you save overall?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: You bought a house for 130000 using a 20 year mortgage at
Reference No:- TGS01236545

Expected delivery within 24 Hours