Andrew has been working with his Uncle Al over the past few years flipping investment properties in
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Question:
Andrew has been working with his Uncle Al over the past few years flipping investment properties in Flagstaff. This has been a very profitable endeavor for Al. As a thank you for all of Andrew's hard work, Al decided to gift Aisling and Andrew $10,000 toward the purchase of the bunker.30 year mortgage with a 3.95% ARP or a 15-year mortgage with a 2.85% APR. and the down payment was $42,718.57.
- If Aisling and Andrew decide to put Uncle Al's gift toward their down payment, how will this affect the total amount they would pay over the life of the loan for each loan option?
Related Book For
Statistics For Business And Economics
ISBN: 9780538481649
11th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams
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