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

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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 attachmentfor 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, Part2) 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:________92,900___________(1 pt.)1.Record the interest rate for each loan from the bank of your choosing: . Loan 1: 30-year fixed mortgage (2 pts.):____3.4%_____ Loan 2: 15-year fixed mortgage (2 pts.):______2.669%___

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