YOU WANT TO BUY A HOUSE THAT COSTS (BEFORE DOWN PAYMENT) $450,000....

1. You want to buy a house that costs (before down payment) $450,000. You make a 10% down payment and finance the rest with a 30-year mortgage. The mortgage has a five year renewal term for which the annual mortgage rate is 5.20% (APR compounded semi-annually). What will the remaining principal of the loan be at the end of the 5-year term if you are making monthly payments? A) $272,400 B) $310,450 C) $372,662 D) $372,947 E) $414,068