Question

You bought a house for $7,680,000
a) Calculate the down payment if you put 10% down.
b) Calculate the amount of your mortgage.
c) Find your monthly mortgage payment for 25 years a t576% compounded monthly.
d) How much money did you pay the bank the first 5 years?
e) How much interest did you pay the bank in the first 5 years?
f) How much money is left in your mortgage? In other words, how much money do you still owe the bank after 5 years?