Assuming that you can sell the house for this amount, use the

following information to calculate

your gains or losses:

Sellingprice ofyourhouse e11.%5G.1 t

Original downpaymenr ?O, t0f)
Mortgage paid over the ten years lZ /uorl+hsXto x enrs) = \ \ C,Lo'L
The principal balance on your loan after ten years lql
,O;K. -et
Do you gain or lose money over the 10 years? How much?
Show your amounts and summarize
your results:

1-qq, ffir;.-1b aq\,Ybc --r c"

Lnb3, S4 &-i-t'tr

Using the same purchase price and down payment, we will investig ate a 15 year mofigage.

Monthly Payment: Calculate the monthly-payment for a l5 year loan

-sho* (rounding up to the
nearest cent) by using the following formula yorr. *o.L! [pMT i, ttr.
payment, P is the mortgage amount, r is the annual percent -oitt ty loan
rate for the loan in decimal,and IZ is
thenumber of years to pay off the loan.] For the l5 year loan
use an annual interest rate of
4.735%.
P (z\
PMT =

Show work here.

Monthly Payment for a l5 year mortgage: \\oD.to