How much does your payment go down in the better option

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Reference no: EM13928010

You buy a house for $150,000 using a 30-year mortgage at 4.5% interest to be paid monthly.1. What is your payment? 2.Your generous parents agree to give you $10,000 toward your home 4.They offer either to make a down payment (lessening the principal amount) or paying off the final $10,000. Which do you prefer (calculate all three options) How much does your payment go down in the better option? How much do you save overall?

Reference no: EM13928010

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