The price of a home is $ 2 2 0 , 0 0 0 The bank requires a 1 5 down payment The buyer is offered two mortgage options 1 5 year fixed at 9 or 3 0 year fixed at 9 Calculate the amount of interest paid for each option How mhch does the buyer save interest with the 1 5 year option ...

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The price of a home is $ 2 2 0 , 0 0 0 . The bank

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Question:

The price of a home is $

220, 000 .

The bank requires a

15 %

down payment. The buyer is offered two mortgage options:

15 -

year fixed at

9 %

30

year fixed at

9 % .

Calculate the amount of interest paid for each option. How mhch does the buyer save interest with the

15

year option?

Posted Date: May 18, 2024 03:14 PM

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The price of a home is $ 2 2 0 , 0 0 0 . The bank

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