Math Payment Project
This house costs $4,950,000. It is a 3 story house with a basement included and had 12,482 square feet. It is on a lake and has a big pool. This house includes 6 full bathrooms, 2 half bathrooms, and 5 bedrooms.
"Lake Realty Lake Norman Real Estate." Lake Realty Lake Norman Real Estate. N.p., n.d. Web. 07 May 2015. <http://realestate.lakerealty.com/cmls/1391/index.cfm?city=cornelius&priceLow=750000&priceHigh=25000000&QuickSearch=Yes>.
1. The second mortgage structure would be the least expensive because it costs $26080.57. The first structure costs $28495.71 and the third one costs $38072.79, which is comparatively higher than the other two.
2. The least expensive mortgage in terms of the amount payed in interest would be Structure 3 because it is $2,893,101.66. Structure 1 is $4,588,713.60 and Structure 2 is $5,429,003.40.
3. The least expensive mortgage structure over the life of the loan would be Structure 3 because it is $6,853,101.66. Structure 1 is $8,548,713.60 and structure 2 is $9,389,003.40, which is noticeably higher than both of the other two.
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