You took a $200,000 mortgage at 4% interest. What are your monthly payments for a 15-year and a 30-year term? What are your total payments at the end of each mortgage? What is the difference in your total payments for each option? Is there a reason why you should not finance for more than 15 years? Give your reasons.
All applicants go through a series of tests that check their level of English and knowledge of formatting styles. The applicant is also required to present a sample of writing to the Evaluation Department. If you wish to find out more about the procedure, check out the whole process.