Question

Ann is buying a house that costs $250,000. She is making a down payment of 15 percent, and her closing costs will amount to 3 percent. Over the life of her loan, she will pay $282,089.89 in monthly payments. What is the total cost of her house?

Answer 1

BEFORE YOU PUT YOUR BLIND TRUST IN THIS ANSWER: I am not completely sure as to how house payments work, so I could be wrong about how I am calculating this...

15%= $37,500
3%= $7,500
monthly payments= $282,089.89
Original purchase price: $250,000

     250,000.00
-      37,500.00
+       7,500.00
+   282,089.89
---------------------
$   502,089.89




(that answer seems a little high to me but like I said I don't know much about house payments)

Answer 2

Answer:

Step-by-step explanation: