Question: You plan to purchase a house for $219,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of 20

of 20 percent of the purchase price. You will not pay off

You plan to purchase a house for $219,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of 20 percent of the purchase price. You will not pay off the mortgage early. Assume the homeowner will remain in the house for the full term and ignore taxes in your analysis. a. Your bank offers you the following two options for payment. Which option should you choose? b. Your bank offers you the following two options for payments. Which option should you choose a. Which option should you choose? b. Which option should you choose? Note: There are no closing costs other than points paid 20 percent of the purchase price. You will not pay off the mortgage early. Assume the homeowner will remain in the house for the full a. Your bank offers you the following two options for payment. Which option should you choose? b. Your bank offers you the following two options for payments. Which option should you choose? a. Which option should you choose? b. Which option should you choose? Note: There are no closing costs other than po Option 2: Mortgage rate of 5.9 percent and 2.5 points. Hel You plan to purchase a house for $219,000 using a 30-year mortgage obtained from your local bank. You will make a down payment of term and ignore taxes in your analysis. a. Your bank offers you the following two options for payment. Which option should you choose? b. Your bank offers you the following two options for payments. Which option should you choose? 2005843 Which option should you choose? 6. Which option should you choose? Note: There are no closing costs other than po Option 1: Mortgage rate of 6 percent and 1.5 points. Option 2: Mortgage rate of 5.83 percent and 2 points

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