Question: Use Prn11+rnnt to determine the regular paymentamount, rounded to the nearest dollar. Consider the following pair of mortgage loan options for a $130,000 mortgage. Which

Use Prn11+rnnt to determine the regular paymentamount, rounded to the nearest dollar. Consider the following pair of mortgage loan options for a $130,000 mortgage. Which mortgage loan has the larger total cost(closing costs+ the amount paid for points+ total cost ofinterest)? By howmuch?

MortgageA: 30-year fixed at 6.25% with closing costs of $2100 and 1 point.

MortgageB: 30-year fixed at 4.5% with closing costs of $2100 and 3 points.

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