You want to buy a $142,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan at 6.1% interest for the rest. a) How much is the loan amount going to be? $ ____
b) What will your monthly payments be? $ ____
c) How much total interest do you pay? $ ____
d) Suppose you want to pay off the loan in 15 years rather than 30. What will your monthly payment be? $ ____
e) How much money in interest will you save if you finance for 15 years instead of 30 years?
$ ____
