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boxes in the tables like the ones on the next page. This question allows you to compare savings that can be experienced depending on
boxes in the tables like the ones on the next page. This question allows you to compare savings that can be experienced depending on the choices made for a mortgage. The mortgage is for $150 000 and assume 7% interest unless otherwise states (as in part d). a. Compare a 25-year amortization period to a 20-year amortization period using a table like the following. Amortization Period Total Number of Monthly Payment Total Interest Paid Payments 25 years 20 years 25x12 = 300 20x12 = 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. Payment $1050.62/month $262.66/week Total Number of Payments 25x12 = 300 Total Interest Paid Which is the best choice and how much would be saved?
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