mayamichelle01 mayamichelle01

13-10-2022
Mathematics

Answered

Consider the following pair of mortgage loan options for a $180,000 mortgage. Which mortgage loan has the larger total cost (closing costs + the amount paid for points + total cost of interest)? By how much?
Mortgage A: 20-year fixed at 6.25% with closing costs of $1700 and 1 point.
Mortgage B: 20-year fixed at 4.5% with closing costs of $1700 and 3 points.

Answer :

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