Question

You can afford a $1350 per month mortgage payment. You’ve found a 30 year loan at 7% interest.

A) How big of a loan can you afford?

B) How much total money will you pay the loan company?

C) How much of that money is interest?

Answer 1

A) 45 because 1350 divide by 30 equals 45. So 45 dollars u can afford

B) 1350 because 45 x 30 = 1350


C) 7% because it’s 7% to begin with