A person standing on the ground throws a ball onto a flat rooftop. The ball rolls around for several seconds. Then the ball falls off the roof, into a puddle of mud.
Assume that a family is purchasing a typical house by making a $30,000 down payment and then financing a $280,000 mortgage at an annual interest rate
Assume that a family is purchasing a typical house by making a $30,000 down payment and then financing a $280,000 mortgage at an annual interest rate of 6.25% (a typical rate for a 30-year loan). The size of their monthly payment will depend on the term of the mortgage. The