Mortgage Loan Analysis: Mr. Johnson plans to buys a new house at Surgar Land in October 2011. The sale price of the house is $580,000. He planst ot pay 20% down payemtns and borrow additional 80% from Wells Fargo Bank with a 30 year, 4.25% fixed rate mortgage loan. He is expected to pay an equal MONTHLY payment starting from December 2011 for a total of 30 years. (1) Calculate the required monthly payment for Mr. Johnson.
Paper#8555 | Written in 18-Jul-2015Price : $25