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solution

John has a 33-year home mortgage. He borrowed $225,000 at a rate of 3.30% (fixed). How much of his first monthly mortgage payment will go towards interest (as opposed to principal)?

$314.59
$617.88
$618.75
$144,601.51

Question 2 0.5 pts Daniel borrows $120,670 for a home mortgage. The mortgage is for 22 years at 4.21% interest. If Daniel makes an extra principal payment of $50 per month, how much will he pay in total interest over the life of the loan?

$57,102.26

$64,584.85
$144,330.80

$423.35

Question 3 0.5 pts Matt borrows $216,000 for a home mortgage. The mortgage is for 26 years at 3.89% interest. If Matt makes an extra principal payment of $270 per month, how much will he pay in total interest over the life of the loan?

$86,763.48

$302,763.48

$522.248.06
$127,659.07

Question 4 0.5 pts Henry borrows $410,000 for a home mortgage with monthly payments. The mortgage is for 34 years at 3.71% interest. How much total interest will Henry pay over the life of the loan?

$410,000.00

$1,034,633.96

$312,117.34

$722,117.

34 Question 5 0.5 pts Parker borrows $163,400 for a home mortgage. The mortgage is for 33 years at 3.00% interest. If Melanie makes an extra principal payment of $90 per month, how much will he pay in total interest over the life of the loan?

O$94,203.95

O $336,569.59

O $237,903.36

O $74,503.36

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