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Assume that the monthly payment on a market - rate ( 9 % ) mortgage would have been $ 3 , 8 0 0 ,

Assume that the monthly payment on a market $-$ rate $(9 %)$ mortgage would have been $ $3, 800,$ and the monthly payment on the seller $-$ financed $(8 %)$ loan was $ $3, 500 .$ What is the present value of the difference between the monthly payments to the nearest dollar?

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Question

Assume that the monthly payment on a market - rate ( 9 % ) mortgage would have been $ 3 , 8 0 0 ,

Assume that the monthly payment on a market-rate (9%) mortgage would have been $3,800, and the monthly payment on the seller-financed (8%) loan was $3,500. What is the present value of the difference between the monthly payments to the nearest dollar?

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Assume that the monthly payment on a market $-$ rate $(9 %)$ mortgage would have been $ $3, 800,$ and the monthly payment on the seller $-$ financed $(8 %)$ loan was $ $3, 500 .$ What is the present value of the difference between the monthly payments to the nearest dollar?