Use an amortization table that determines the monthly mortgage payment based on a specific interest rate and principal with a 15 year maturity, and then for a 30 year maturity Is the monthly payment for the 15 year maturity twice the amount as for the 30 year maturity, or less than twice the amount Explain

Question: Use an amortization table that determines the monthly mortgage payment based on a specific interest rate and principal with a 15-year maturity, and then for

Use an amortization table that determines the monthly mortgage payment based on a specific interest rate and principal with a 15-year and then for a 30-year Is the monthly payment for the 15-year twice the amount as for the 30-year or less than twice the amount? Explain.

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