21-11-2022
Mathematics

Answered

Mr. and Mrs. Wilson are going to purchase a home soon. They have been working with a realtor and have negotiated a price on a four bedroom colonial in Bedford Heights for $280,850. The Wilson's are going to make a down payment of 20% and take out a mortgage for the remaining balance. The bank they are working with is offering two options for the Wilsons to consider. The first option is a 30 year mortgage with an APR of 7.8%. The second option is a 15 year mortgage with an APR of 6.65%.

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