Mathematics, 07.05.2020 06:08 neriah30
The Mendez family is considering a mortgage loan of $348,000 at an annual interest rate of 6.8%.
(a) How much greater is their mortgage payment if the term is 20 years rather than 30 years?
$
(b) How much less is the amount of interest paid over the life of the 20-year loan than over the life of the 30-year loan?
$
Answers: 2
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The Mendez family is considering a mortgage loan of $348,000 at an annual interest rate of 6.8%.
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