Which mortgage loan has the greater total cost (closing costs + the amount paid for points + total cost of interest)? By how much? A $250,000 mortgage with two loan options: Mortgage A: 30-year fixed at 7.25% with closing costs of$2000 and one point Mortgage B: 30-year fixed at 6.25% with closing costs of $350 and four points

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To determine which mortgage loan has the greater total cost we need to calculate the total cost of e... View the full answer