Mrs. Robert wants to buy a property. She has the following two choices: (Option A): $180,000 loan for a new property priced at $180,000 at a 9.5 percent interest rate for 25 years. (Option B): Ryan is offering a house for sale also for $180,000 with an assumable mortgage of $150,000 at 9.25% with 25 years remaining. A second mortgage can be obtained for $30,000 balance at 12.5% for 25 years.

1 Based on this information what is the monthly payment for the assumed loan in Option B?

1 Based on this information what is the monthly payment for the assumed loan in Option B?

$1,310.54

$1,284.57

$1,691.75

$1,884.04