Question: Please show work using excel functions such as PMT, PV, FV, NPV, etc... The Johnsons are trying to decide whether to secure a 15 year

Please show work using excel functions such as PMT, PV, FV, NPV, etc...

The Johnsons are trying to decide whether to secure a 15 year loan or a 30 year loan on their new home. The 15 year loan is currently offered at a rate of 3.18% APR. The 30 year loan is at 4.15% APR. Assuming the Johnsons borrow $200,000.00, how much more will they pay in interest on the 30 year loan versus the 15 year loan? O $77,567.89 O $98,256.62 O $200,000.00 $149,994.39

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