Menu
Consumer Loans
Buying a House
Using the Google Mortgage Calculator calculate the following and record you answers on a Google Sheet. Share you Google doc HERE
1. Research the cost of purchasing the following:
A. A 150,000 dollar home at a 5% interest rate over the course of 15 years. What is your monthly payment? What is the amount you will have paid by the end of the 15 year period?
B. A 300,000 dollar home at a 5% interest rate over the course of 15 years. Monthly payment? Total amount after 15 years?
C. A 150,000 dollar home at a 6% interest rate over the course of 15 years. Monthly payment? Total after 15 years?
D. A 300,000 dollar home at 6% interest over 30 years. Monthly payment? Total after 30 years.
E. A 150,000 dollar home at 5% interest over 30 years with an additional $200 per month paid. Monthly? How much paid overall? How soon will you pay off the debt? Use: Mortgage Calculator with Extra Payment
F. How much income do you need to pay for a 150,000 dollar home? 300,000 dollar home?
Buying a Home Part 2
Using the Google Mortgage Calculator calculate the following and record you answers on a Google Sheet. Share you Google doc HERE
1. Research the cost of purchasing the following:
A. A 150,000 dollar home at a 5% interest rate over the course of 15 years. What is your monthly payment? What is the amount you will have paid by the end of the 15 year period?
B. A 300,000 dollar home at a 5% interest rate over the course of 15 years. Monthly payment? Total amount after 15 years?
C. A 150,000 dollar home at a 6% interest rate over the course of 15 years. Monthly payment? Total after 15 years?
D. A 300,000 dollar home at 6% interest over 30 years. Monthly payment? Total after 30 years.
E. A 150,000 dollar home at 5% interest over 30 years with an additional $200 per month paid. Monthly? How much paid overall? How soon will you pay off the debt? Use: Mortgage Calculator with Extra Payment
F. How much income do you need to pay for a 150,000 dollar home? 300,000 dollar home?
Buying a Home Part 2