You will finance 80 of the 500000 with a thirty year fixed, Financial Management

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You will finance 80 of the 500000 with a thirty year fixed

1) You are going to buy a home for $500,000. You will finance 80% of the $500,000 with a thirty year fixed rate mortgage. Interest payments will decline each month over the 30 year term and principal payments increase each month

Is this true or false?

2) You are going to buy a home for $350,000. You will fince 80% of the $350,000 with a thirty year fixed rate mortgage. If the annual interest rate on the mortgage is 4%, The total monthly payment will be $1,350.87.

Is this true or false?

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Financial Management: You will finance 80 of the 500000 with a thirty year fixed

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Financial Management: You will finance 80 of the 500000 with a thirty year fixed

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