Question: Can you answer this question for me please ? You plan to buy a $250,000 home with a 20% down payment. The bank you want

Can you answer this question for me please ?

You plan to buy a $250,000 home with a 20% down payment. The bank you want to finance the loan through suggests two options: a 15-year mortgage at 4.25% APR and a 30-year mortgage at 5% APR. What is the difference in monthly payments between these two options?

(A/P, 5%/ 12, 360) = 0.0053682 and (A/P, 5%/12, 180) = 0.0075228

Select correct answer

A- $430.92

B- $634.25

C- $1504.56

D- None of the above

B-

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