6.6 An investor has owned a property for 15 years, the value of which is now to $200,000. The balance on the original mortgage is $100,000 and the monthly payments are $1,100 with 15 years remaining. He would like to obtain $50,000 in additional financing. He can obtain a second mortgage for $50,000 at a 14 percent rate with a 15 year term. Alternatively, a wraparound loan for $150,000 can be obtained at a 12 percent rate and a 15-year term. All loans are fully amortizing. Which alternative should the investor choose? decide whether to do a wraparound for $150,000 at 12% or add a home equity loan of $50,000 at 14%.