What would be the monthly payments

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-You are considering purchasing a home with a price of $350,000. You will make a 20% downpayment and finance the rest with a 30-year fixed rate mortgage with monthly payments. The current interest rate is 4%. What would be the monthly payments? what would be the outstanding loan balance after 3 years (36 payments)?

-What would be the outstanding loan balance after 5 years (60 payments) on a 30-year fixed rate mortgage with monthly payments and a beginning loan amount of $100,000 and an interest rate of 5%?

Reference no: EM132554692

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