Quick Access X Queation 20 - Exam 2 1 x *BUS 103 CHAPTER 15 x Mortgage Bankers Ass X (N Solved > Mortgage Be X 1: Exam 2 Practice Proble X C A https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&la... O K. Exam 2 Practice Problems i Saved Help Save & 20 Mortgage Bankers Association reported the median price of a home sold in the United States in January 2015 was $199,600. Pat Radigan wants to purchase a new home for $317,000. Pat puts 20% down and will finance the remainder of the purchase. Compare the following two mortgage options he has: 17 years at 6.0% or 22 years at 6.5%. (Use Table 15.1). (Round your intermediate calculations 0.5 and final answers to the nearest cent.) points a. Calculate Pat's monthly payment for both the 17 and 22 year mortgage? eBook Monthly payment for 17 year mortgage Print Monthly payment for 22 year mortgage References b. Calculate Pat's total cost of interest for both the 17 and 22 year mortgage? Total cost of interest for 17 year mortgage Total cost of interest for 22 year mortgage c. What is the difference in interest paid between 17 and 22 year mortgage? Difference Mc Graw