Question: Please answe and explain 13 thru 18 Principle &Interest Problems Problem Set 2: Use a Mortgage amount of $200,000 to answer questions 13 and 14.
Principle &Interest Problems Problem Set 2: Use a Mortgage amount of $200,000 to answer questions 13 and 14. 13) How much in principle and how much in interest would be paid on a 796, 30 year mortgage? P, 14) How much in principle and how much interest would be paid on a 7%, 15 year mortgage? eneral questions: Comparing a 30 year mortgage to a 15 year mortgage (Base on answers from questions 5 and 6) 15) What is the major advantage of the 30 year mortgage over the 15 year mortgage? 16) What is the major advantage of the15 year mortgage over the 30 year mortgage? (mortgage)17-18) Which customer mortgage (30 year or 15 year) would benefit the contractor most and why? reason)
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