Example Sandra is looking to buy a house. She has found two banks that will lend...

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Example Sandra is looking to buy a house. She has found two banks that will lend her the $300000 that she needs. The conditions offered by the banks are as follows: Bank A: 5.7% per annum for 30 years Bank B: 3.2% per annum for 15 years Bank a) Determine which bank has a better offer if she is trying to minimise her monthly payment. b) Determine which bank charges her more interest over the course of the loan. BANK A: N= BANK B: N= |= |= PV= Pmt= FV= Ppy= PV= Pmt= FV= Ppy= Cpy= Cpy= Example Sandra is looking to buy a house. She has found two banks that will lend her the $300000 that she needs. The conditions offered by the banks are as follows: Bank A: 5.7% per annum for 30 years Bank B: 3.2% per annum for 15 years Bank a) Determine which bank has a better offer if she is trying to minimise her monthly payment. b) Determine which bank charges her more interest over the course of the loan. BANK A: N= BANK B: N= |= |= PV= Pmt= FV= Ppy= PV= Pmt= FV= Ppy= Cpy= Cpy=