What is the monthly payment for a home costing $125,000 with a 20% down payment and the balance financed for 25 years at 10%?

Name: What is the monthly payment for a home costing $125,000 with a 20% down payment and the balance financed for 25 years at 10%?
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Question

What is the monthly payment for a home costing $125,000 with a 20% down payment and the balance financed for 25 years at 10%? ​

Quizplus · Accepted Answer

Using a mortgage calculator, the monthly payment for a $100,000 loan at 10% for 25 years is $908.70. Adding 20% down payment ($25,000) to the total cost of the home ($125,000) gives a loan amount of $100,000.

What Is the Monthly Payment for a Home Costing $125,000