Question: please help with both The Jacksons are looking for a new home to better suit their growing family. They were delighted to find a house
The Jacksons are looking for a new home to better suit their growing family. They were delighted to find a house for sale that they loved which would require them to obtain a loan for $215,000. They need to decide between a 20 -year or 30 -year loan. Both loans are at a 7.6% per year interest rate compounded monthly. Find the total amount paid over the life of the 30-year loan (in dollars). (Do not include units in your answer.) Find the total savings by going with the 20-year loan (in dollars). (Do not include units in your answer.)
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