You want to buy a $197,000 home. You plan to pay 20% as a

Last updated: 7/18/2022

You want to buy a $197,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan for the rest. a) How much is the loan amount going to be? b) What will your monthly payments be if the interest rate is 6%? c) What will your monthly payments be if the interest rate is 7%?