A couple has decided to purchase a $110000 house using a down payment of $16000. They can amortize the balance at 11% over 15 years.
a) What is their monthly payment?
Answer = $
b) What is the total interest paid?
Answer = $
c) What is the equity after 5 years?
Answer = $
d) What is the equity after 10 years?
Answer = $