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What will be kiranpreet monthly mortgage payment

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Question - After working for 7 years, Kiranpreet Kaur has finally saved enough money to buy herself a house. She has saved 520,000. She wants to buy the house outside Toronto, preferably in Mississauga or Brampton. Scotia bank has just approved her mortgage at 3.8% interest rate. She has found a beautiful home worth1,420,000 Canadian dollars in Brampton. Kiranpreet wants to make monthly mortgage payment as low as possible. She wants to know her monthly mortgage payment under various scenarios. What will be Kiranpreet monthly mortgage payment, if:

-If she puts 30% Down payment and mortgage period is 25 years?

-If she puts 25% Down payment and mortgage period is 30 years?

-If she puts 15% Down payment and mortgage period is 20 years?

-If she puts 15% Down payment and mortgage period is 30 years?

Reference no: EM133095128

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