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a ) Compare a 2 5 - year amortization period to a 2 0 - year amortization period using a table like the following. (

a) Compare a 25-year amortization period to a 20-year amortization period using a table like the following. (5 marks: 2 marks for monthly payments, 2 marks for interest totals, 1 mark for last question)
\table[[\table[[Amortization],[Period]],\table[[Total Number of],[Payments]],Monthly Payment,Total Interest Paid],[25 years,2512=300,,],[20 years,2012=240,,]]
Which is the best choice and how much would be saved?
b) Compare payment frequencies-monthly with accelerated weekly-using a table like the following. (3 marks: 1 mark for total number of payments, 1 mark for weekly total interest paid value, 1 mark for final question)
\table[[Payment,\table[[Total Number of],[Payments]],Total Interest Paid],[$1050.62? month,2512=300,\table[[(Here you may copy your],[answer from part a)]]],[$262.66? week,,]]
Which is the best choice and how much would be saved?
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