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A family buys a house for a $340,000, with a down payment of $55.000 They take out a 30-year mortgage for $285,000 at an annual
A family buys a house for a $340,000, with a down payment of $55.000 They take out a 30-year mortgage for $285,000 at an annual interest rate of 7%. The monthly payments on this loan are $1654 14, with $310,490 40 paid in interest Calculate the monthly payment and fotat interest paid this wore a 15-year mortgage, and then compare the two mortgages The monthly payment on the 15-year mortgage is 53 This is than the monthly payment on the 30-year mortgage The amount of interest paid on the 15-year mortgage in s than the Interest paid on the 30-year mortgage (Do not round in the final answer the round to the nearest cent) sont tion Ston stion ston
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