jkatelyn14 jkatelyn14

13-10-2022
Mathematics

Answered

Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs.
You need a $140,000 loan.
Option 1: a 30-year loan at an APR of 9%.
Option 2: a 15-year loan at an APR of 8.5%

Answer :

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