$16$

Multiple Choice

$2$ points

$[$Ch$\mathrm{.}7]$ All else held constant, mortgage payments are $q,$ on a $15-$year fixed$-$rate mortgage than on a $30-$year fixed$-$rate mortgage, and $q,$ is paid on a $15-$year mortgage than on a $30-$year mortgage.

lower; less principal

higher; less interest

lower; less interest

higher; more principal

Clear my selection

$17$

Multiple Choice

$2$ points