25 points
House payments work the exact same way except banks usually give you 15 to 30 years to pay it off. What would your monthly payment be on a house if you took a loan out
for $85,000 with an APR of 7.1% and you were going to pay it back over a term of 30 years on a monthly basis?
(Also, with houses you can expect to pay another $100 - $300 per month in taxes and insurance depending on where you live and the price of the house.)
