Question
Field pit man is interested in a fixed rate mortgage for $200000. He is undecided whether to choose a 15 or 30 year. Mortgage the
Field pit man is interested in a fixed rate mortgage for $200000. He is undecided whether to choose a 15 or 30 year. Mortgage the current mortgage rate is 8% for 15 year mortgage and 8.5% for 30 year. Mortgage round your answers to the nearest dollar. Use the table if necessary. What are the monthly principle and interest payments in dollars loan for the 15 year mortgage? And what is the principal and interest for 30 year mortgage. What is the total amount of interest in dollars paid on each for the 15 year mortgage and the 30 year mortgage? overall how much more interest in dollars is paid by choosing the 30 year mortgage.?
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