You have 29000 in cash that you can use as a down payment, Financial Management

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You have 29000 in cash that you can use as a down payment

You are thinking of purchasing a house the house costs $200 000

You have $29,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price the bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 7% per year

What will be your annual payment if you sign this mortgage? the annual payment is $

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Financial Management: You have 29000 in cash that you can use as a down payment

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Financial Management: You have 29000 in cash that you can use as a down payment

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