How much interest (to the nearest dollar) would be saved in Problem 41 if the home were
Question:
How much interest (to the nearest dollar) would be saved in Problem 41 if the home were financed for 15 rather than 30 years?
Data from Problem 41
A $512,000 home bought with a 20% down payment and the balance financed for 30 years at 5.1%
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Solution Calculate the loan amount Down payment 20 512000 102400 Loan amount 512000 102400 409600 Ca...View the full answer
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