Question: . pl ais mo Uso PMT= to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin is $45,000.
. pl ais mo Uso PMT= to determine the regular payment amount, rounded to the nearest dollar. The price of a small cabin is $45,000. The bank requires a 5% down payment nts 1-10 The buyer is offered two mortgage options: 20-year foed at 95% of 30-year foued at 95% Calculate the amount of interest paid for each option. How much does the buyer save in n interest with the 20-year option? Find the monthly payment for the 20-year option ok (Round to the nearest dollar as needed) Content Find the monthly payment for the 30-year option (Round to the nearest dollar as needed) Calculate the total cost of interest for both mortgage options. How much does the buyer save in interest with the 20-year option? Success (Use the answers from parts 1 and 2 to find this answer or Success
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
