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SlideRule · 10-26-2023, 12:46 AM

Given: " Assume that interest rates are high and that you are purchasing a $150,000 townhouse with $50,000 down. The balance, $100,000, is to be financed by a first trust deed loan for 30 years at 15 percent. The builder agrees to buy down the loan to 12 percent for 3 years. "

Needed: " Payments by the buyer to the lender will drop from $¤¤¤¤.¢¢ to $¤¤¤¤.¢¢. "

Answer: to follow (with equation ).

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