Home loan for $185,000 for 30 years at 8.5%

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Presentation transcript:

Home loan for $185,000 for 30 years at 8.5% Instructions: Go to my Marketing Web Page. Click on the link for the Loan Calculator. Input information for the following loans. Marketing Name _______________________ 5.2 Technology Question Home loan for $185,000 for 30 years at 8.5% Monthly Payment Total Interest Paid Total Amount Paid Back Calculate the monthly payments and total interest paid if the interest rate is 3% higher on each loan. Calculate the monthly payments and total interest paid if the interest rate is 2% lower on each loan. Car loan for $12,800 for 4 years at 12%