A $225,000 adjustable-rate mortgage is expected to have the following payments:
In the image
Part A: What is the total cost of the adjustable-rate mortgage? Explain which technology you used to solve and each step of your process. (3 points)
Part B: What is the total cost of the fixed-rate mortgage? Explain which technology you used to solve and each step of your process. (3 points)
Part C: Using your values from parts A and B compare the advantages and disadvantages of the two loan types. (4 points)