A prospective homeowner wants to determine how much she can borrow in the form of a fixed-rate 20-year mortgagge . Mortgages of the maturity carry a fixed interset rate of 9% . She esitmate that she can afford annual , pre-tax payments (interset plus principal ) on her mortagaes of $25,000 ( for simplicity , assume that mortgage payments are made once ayear at the end of the year )

A - How large a mortgage can she afford , assuming she makes steady payments of $25,000 per year for 20 years ? how much total interset will be paid over the 20-year life of the mortgage ? How much total interset will be paid during the first year of the mortgages ? how much pricible will be repaid in the first year ? how much of the final $25,000 payment at the end of 20 years will be interset and how much will be principal

A prospective homeowner wants to determine how much she can borrow in the form of a fixed-rate 20-year mortgagge . Mortgages of the maturity carry a fixed interset rate of 9% . She esitmate that she can afford annual , pre-tax payments (interset plus principal ) on her mortagaes of $25,000 ( for simplicity , assume that mortgage payments are made once ayear at the end of the year )

A - How large a mortgage can she afford , assuming she makes steady payments of $25,000 per year for 20 years ? how much total interset will be paid over the 20-year life of the mortgage ? How much total interset will be paid during the first year of the mortgages ? how much pricible will be repaid in the first year ? how much of the final $25,000 payment at the end of 20 years will be interset and how much will be principal

what's up ali? Okay...I assume you have a financial calculator, yeah? Why don't you try to come up with an answer on your own and let me know what you got...I'll let you know if you were right or wrong if you tell me the steps you took to get your answer. You have to do some of the work or you'll never understand how to solve this type of problem, cool?