Question: What is the answer? Use PMT= -- to determine the regular payment amount. rounded to the nearest dollar. In terms of paying less in [1

What is the answer?

Use PMT= -- to determine the regular payment amount. rounded to the nearest dollar. In terms of paying less in [1 - Ml ' ' interest, which is more economical for a $210,000 mortgage: a 30-year xedrate at 10% or a 20-yearxed-rate at 9.5%? How 1 much is saved in interest? Determine which loan is more economical. Choose the correct answer below. 0 The 20-year 9.5% loan is more economical. O The 30-year 10% loan is more economical. The buyer will save approximately $D in interest. (Do not round until the nal answer. Then round to the nearest thousand dollars.)

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