MTH108- Home Project Part 3 - MTH108 Home Project Part III...

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MTH108 Home Project - Part III Name____ Instructions: Show all work for each section. Any paragraphs should be typed and written in complete sentences. Use Times New Roman, 12-point font and double space. Cite any resource that you use – click on the following attachment 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:_____$74,900______________(1 pt.) 1. Record the interest rate for each loan from the bank of your choosing: Loan 1: 30-year fixed mortgage (2 pts.):__3.681_______

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