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Review the Monthly Principal & Interest Factor chart to answer the question: FICO Score 770-789 750-769 730-749 710-729 690-709 APR 30-Year Term 20-Year Term
Review the Monthly Principal & Interest Factor chart to answer the question: FICO Score 770-789 750-769 730-749 710-729 690-709 APR 30-Year Term 20-Year Term 15-Year Term $5.68 $6.88 $8.17 $6.00 $7.16 $8.44 $6.32 $7.46 $8.71 $6.65 $7.75 $8.99 $6.99 $8.06 $9.27 5.5 6.0 6.5 7.0 7.5 Determine the percent decrease in total principal and interest paid between a 30-year term mortgage and a 20-year mortgage with a principal balance of $281,700.00 and a 5.5% APR. Round the final answer to the nearest tenth. (1 point) 13.7% 15.9% 19.2% 23.8%
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Statistics Informed Decisions Using Data
Authors: Michael Sullivan III
5th Edition
978-0134135373, 134133536, 134135377, 978-0134133539
