Mathematics, 03.05.2022 22:10 melissalopez12
Hannah and Benjamin are each buying homes in Plano. Both qualified
for $182,000 loans, but Benjamin was offered a loan with a higher
interest rate because he has a lower credit score.
Hannah's Loan
Loan Amount: $182,000
Interest Rate: 3.5%
Time: 30 years
Benjamin's Loan
Loan Amount: $182,000
Interest Rate: 4.5%
Time: 30 years
Monthly Payment:
$922.17
Monthly Payment:
$817.26
How much more money will Benjamin pay over 30 years than Hannah
because of his higher interest rate?
90
Answers: 2
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Hannah and Benjamin are each buying homes in Plano. Both qualified
for $182,000 loans, but Benjami...
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