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please help A loan officer states, Thousands of dollars can be saved by switching to a 15 year mortgage from a 30 year mortgage Calculate
please help
A loan officer states," Thousands of dollars can be saved by switching to a 15 year mortgage from a 30 year mortgage" Calculate the difference in payments on a 30 year mortgage at an interest of 0.75% a month versus a 15 year mortgage with an interest rate of 0.7% a month. Both mortgage are for $100,000 and have monthy payments.
5 A loan officer states, "Thousands of dollars can be saved by switching to a 15 year mortgage from a 30 year mortgage Calculate the difference in payments on a 30-year mortgage at an interest of 0.75% a month versus a 15-year mortgage with an interest rate of 0.7% a month Both mortgage are for $100,000 and have monthly payments What is the monthly payment committed by the 30 year mortgage? And the total payment? 2) What is the monthly payment committed by the 15-year mortgage? And the total payment? 3) What is the difference in total dollars that will be paid to the lender under each loan 1.) what is the monthly payment committed by the 30 year mortgage? and the total payment?
2.) what is the monthly payment committed by the 15 year mortgage? and total payment?
3.) what is the difference in total dollars that will be paid to the lender under each loan?
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