Question

You are applying for an 80/20 mortgage to buy a house costing $100,000.

The first (80%) mortgage has an interest rate of 4.75%, and the second (20%)
mortgage has an interest rate of 7.525%. Both the first mortgage and the
second mortgage are 30-year fixed-rate mortgages. What will the total
amount of the mortgage be?

Answer 1

$200,703.60

Explanation:

this is the is the answer, i used a tvm solver