loan payments, credit cards and mortgage question 16

or sic Qu 11 Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. e: You need a $110,000 loan. Option 1: a 30-year loan at an APR of 7.5%. Option 2: a 15-year loan at an APR of 7%. 5 19 ||| nll n.1 Homework: 4D: Loan Payments, Credit Cards and Mortgage Question 16, 4.D.37 Part 1 of 3 Find the monthly payment for each option. The monthly payment for option 1 is $ The monthly payment for option 2 is $ (Do not round until the final answer. Then round to the nearest cent as needed.) Help me solve this View an example HW Score: 26.32%, 5 of 19 points O Points: 0 of 1 Get more help. Save Clear all Check