Martin took out an 80/20 mortgage to buy a house costing $145,000. The
first (80%) mortgage ha...
Mathematics, 05.05.2020 09:28 natalie2sheffield
Martin took out an 80/20 mortgage to buy a house costing $145,000. The
first (80%) mortgage has an interest rate of 4.75%, and the second (20%)
mortgage has an interest rate of 7.525%. Both the first mortgage and the
second mortgage are 30-year fixed-rate mortgages. What is his total
mortgage payment for this house?
A) $203.27
B) $730.31
C) $808.38
D) $605.11
Answers: 1
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