11. Gwen needs a $200,000 mortgage and is ottered two choices. The monthly payments for the...

 

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11. Gwen needs a $200,000 mortgage and is ottered two choices. The monthly payments for the fixed rate and predicted payments for the ARM are shown. Fixed Rate Mortgage Year 1-30 Year 1-5 6-30 MonthlyPayment $1,073.64 Adjustable Rate Mortgage MonthlyPayment $1,013.37 $1,152.36 What is the difference between the total costs of the mortgages rounded to the nearest hundred? (4 points) 11. Gwen needs a $200,000 mortgage and is ottered two choices. The monthly payments for the fixed rate and predicted payments for the ARM are shown. Fixed Rate Mortgage Year 1-30 Year 1-5 6-30 MonthlyPayment $1,073.64 Adjustable Rate Mortgage MonthlyPayment $1,013.37 $1,152.36 What is the difference between the total costs of the mortgages rounded to the nearest hundred? (4 points)