Question: This builds on your work in the Chapter 7 Excel assignment about mortgages. Building on the results of your work (be sure to check out

This builds on your work in the Chapter 7 Excel assignment about mortgages. Building on the results of your work (be sure to check out my solution to the Chapter 7 Excel homework which is below) answer the following questions in a paper.

Show the important decision variables in choosing between a 15-year and 30-year mortgage.

If you are refinancing an existing mortgage discuss the impact of choosing between prepaid points and a lower interest rate or choosing a cheaper refi with a higher rate.

The grading of this will be on both your interpretation of the numerical output that you made as well as your command of written English.

This builds on your work in the Chapter 7 Excel

1099-INT Schedule First Payment Date Last Payment Date Interest Expense Per payments in year Calendar Year 4/1/2024 12/01/2024 9 $11,784.36 01/01/2025 12/01/2025 12 $15,134.01 01/01/2026 12/01/2026 12 $14,432.36 01/01/2027 12/01/2027 12 $13,683.77 01/01/2028 12/01/2028 12 $12,885.00 01/01/2029 12/01/2029 12 $12,032.74 01/01/2030 12/01/2030 12 $11,123.42 01/01/2031 12/01/2031 12 $10,153.19 01/01/2032 12/01/2032 12 $9,117.98 01/01/2033 12/01/2033 12 $8,013.44 01/01/2034 12/01/2034 12 $6,834.95 01/01/2035 12/01/2035 12 $5,577.49 01/01/2036 12/01/2036 12 $4,235.85 01/01/2037 12/01/2037 12 $2,804.36 01/01/2038 12/01/2038 12 $1,276.98 01/01/2039 03/01/2039 3 $68.75

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