2 part question:
At the beginning of December, they decide to look into buying a home before the interest rates rise above the current historic low rates. They quickly find a wonderful three bedroom, 2 bath ranch-style home in a great neighborhood that has well reviewed schools. The price of the home is $255,750 and they have two banks competing for the loan. The first bank will offer a 2.7% APR loan, but requires a 10% down payment. The second bank offers a 2.5% APR, but only requires 5% down. They prefer a lower payment, so determine the monthly payment for each loan to help the Hernandez family decide which loan to accept. They then take that loan and move into the home later that month. (Show your work)

Determine the amount of the down payment for the house they just purchased (see last task), so they know how much they need to take out of the savings account. Now, based on no other withdrawals from savings, find the amount of interest earned on the savings account for the entire year.