Question: Question 18 A borrower bought a house for $300,000; he can obtain an 80% loan with a 30-year fully amortizing, 7% interest rate and monthly

Question 18 A borrower bought a house for $300,000; he can obtain an 80% loan with a 30-year fully amortizing, 7% interest rate and monthly payment. Alternatively, he could get a 30-year fully amortizing 90% loan at 9% What is the difference in loan balance assume the borrower will hold the loan for 10 years? $35 510.59 $37.576.52 $36.210.14 538,589.78

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