Felipe and Suzie Want to Calculate the Difference in Monthly

question 7

Essay

Felipe and Suzie want to calculate the difference in monthly payments on a $110,000 home as a result of a $5,000 down payment or a $10,000 down payment.Use your financial calculator to figure the monthly payments,assuming they get a 6.5%,30-year mortgage.

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Definitions:

Nonfarm Activities

Economic activities that do not involve agriculture, farming, or animal husbandry, typically in sectors like manufacturing, services, and technology.

Americans

Citizens of the United States or people living within its boundaries; also can refer to the broader identities and cultures within the United States.

Third-party Candidate

A candidate in an electoral system who represents a political party outside the two dominant parties in a two-party system.