MTH108 Home Project - Part III
Show all work for each section. Any paragraphs should be typed and written in
Use Times New Roman, 12-point font and double space.
Cite any resource
that you use – click on the following
for a guide to cite resources in APA. Attach any
additional paperwork to the back of your project.
Part III: Finding Mortgage Payments (35 pts.)
In this scenario you cannot pay cash for your home (Refer to your answers in Home Project, Part
2) and you will need to get a loan from a financial institution.
Research and find a current
interest rate for both a 30-year fixed mortgage and a 15-year fixed mortgage through your bank
or other source such as
Note: For all of Home Project Part 3, the calculated loans will not require a PMI payment.
Please record the purchase price of your chosen home from Part II:______$119,900.00___(1 pt.)
Record the interest rate for each loan from the bank of your choosing: