# 7.3A Mortgage Payments & Escrow Worksheet

## 12 questions

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• Multiple Choice
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15 minutes
1 pt

1a. The Jacobs family is planning to buy a home. They have some money for a down payment already. They see a home they like and compute that they would need to borrow \$213,000 from a bank over a 30-year period. The APR is 6.75%. What is the monthly payment?

\$2,130

\$1,381.51

\$2,295.16

\$3,004.84

• Multiple Choice
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15 minutes
1 pt

1b. The Jacobs family is planning to buy a home. They have some money for a down payment already. They see a home they like and compute that they would need to borrow \$213,000 from a bank over a 30-year period. The APR is 6.75%. What is the total of all of the monthly payments over the 30 years?

\$379,337.24

\$413,572.88

\$352,663.05

\$497,343.60

• Multiple Choice
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15 minutes
1 pt

1c. The Jacobs family is planning to buy a home. They have some money for a down payment already. They see a home they like and compute that they would need to borrow \$213,000 from a bank over a 30-year period. The APR is 6.75%. What is their total interest for the 30 years?

\$178,008.62

\$98,452.16

\$284,343.60

\$311,098.50

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