$30$

On its website, the Statesman Journal newspaper $($Salem$,$ Oregon, $2005)$ reports mortgage loan interest rates for $30-$year and $15-$year fixed$-$rate mortgage loans for a number of Willamette Valley lending institutions. Of interest is whether there is any systematic difference between $30-$year rates and $15-$year rates $($expressed as annual percentage rate or APR$)$ and, if there is$,$ what is the size of that difference. The following table displays the $30-$ year rate and the $15-$year rate for each of nine lending institutions. Also given is the difference between the $30-$year rate and the $15-$year rate for each lending institution. Use the table to compare the $30-$year rates and the $15-$year rates. Also, calculate the average of the differences between the rates. $($Input the amount as positive value. Round your

$01$:$19$:$50$

answer to $4$ decimal places.$)$

$\backslash$table$[[$Lending Institution,$30-$Year,$15-$Year,Difference$],[$Blue Ribbon Home Mortgage,$3\mathrm{.}606,3\mathrm{.}664,-0\mathrm{.}058],[$Coast To Coast Mortgage Lending,$5\mathrm{.}745,4\mathrm{.}724,1\mathrm{.}021],[$Community Mortgage Services Inc.,$5\mathrm{.}696,5\mathrm{.}219,0\mathrm{.}477],[$Liberty Mortgage,$4\mathrm{.}332,4\mathrm{.}243,0\mathrm{.}089],[$Jim Morrison's MBI,$5\mathrm{.}228,5\mathrm{.}399,-0\mathrm{.}171],[$Professional Valley Mortgage,$5\mathrm{.}691,5\mathrm{.}227,0\mathrm{.}464],[$Mortgage First,$3\mathrm{.}031,6\mathrm{.}060,-3\mathrm{.}029],[$Professional Mortgage Corpor,$3\mathrm{.}781,3\mathrm{.}808,-0\mathrm{.}027],[$Resident Lending Group Inc.,$5\mathrm{.}451,5\mathrm{.}684,-0\mathrm{.}233]]$

Mc

Graw

Prev

$30$ of $40$

Next