Description of this paper

Mortgage Calc

Description

solution


Question

Question;A loan officer states, "Thousands of dollars can be saved by switching to a 15?yearmortgage from a 30?year mortgage." Calculate the difference in payments on a 30?yearmortgage at 9% interest versus a 15?year mortgage with 8.5% interest. Both mortgages arefor $100,000 and have monthly payments. What is the difference in total dollars that willbe paid to the lender under each loan?

 

Paper#51084 | Written in 18-Jul-2015

Price : $22
SiteLock