Finance
posted by Brittany .
Say that you purchase a house for $270,000 by getting a mortgage for $235,000 and paying a $35,000 down payment. If you get a 15year mortgage with a 8 percent interest rate, what are the monthly payments?

assume a bank loan requires an interest payment of $85 per year ans a principal
payment of $1000 at the end of the loan eighty year life.
Respond to this Question
Similar Questions

accounting
House mortgage You have just purchased a house and have obtained a 30year, $200,000 mortgage with an interest rate of 10 percent. Required: a. what is your annual payment? 
consumer math grade 12
jesse buys a 150 000 house and will make a 30 000 down payment the bank will charge him an interest rate of 5% with the mortgage amoritized over 15 years determine the monthly mortgage payment 
accounting
You have just purchased a house and have obtained a 30year, $200,000 mortgage with an interest rate of 10 percent. Required: a. what is your annual payment? 
Math
1.Cody and Carolyn have a 20/7 balloon mortgage for $216,000 with a rate of 4.55%. How much will they pay in interest over the life of the loan? 
Business
Bob buys a house for 150,000 with a mortgage rate of 5.8% convertible monthly. At the time of purchase he owns a 10,000 20year zero coupon bond that earns 4.5% annually. The bond matures in 15 yeas. He would like to use the proceeds … 
Finance
Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment. Assume you get a 15year mortgage with a 6 percent interest rate. If the house appreciates at a 2 percent rate per year, … 
Finance
A mortgage broker is offering a $225,000 30year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5 percent APR interest rate. After the second year, the mortgage … 
Urgent math
A couple needs a mortgage of $300,000. Their mortgage broker presents them with two options: a 30year mortgage at 8 1/2% interest or a 15year mortgage at 7 3/4% interest. (Round your answers to the nearest cent.) (a) Find the monthly … 
Finance
Audrey Sanborn has just arranged to purchase a $550,000 vacation home in the Bahamas with a 20 percent down payment. The mortgage has a 6.1 percent stated annual interest rate, compounded monthly, and calls for equal monthly payments … 
Math
You have a $200,000 mortgage. You have had the house for one year. The rate is 7.5% fixed for 30 years. Rates have come down and you are thinking of refinancing at the new rate of 6%. 1) What is your mortgage payment and interest on …