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Suppose you want to buy a house that costs $325,000. You have $65,000 dollars for a down payment. The bank is offering two different mortgage
Suppose you want to buy a house that costs $325,000. You have $65,000 dollars for a down payment. The bank is offering two different mortgage options. - Option A: 30 -year mortgage at 4.0%. - Option B: 30 -year mortgage at 3.7\% with two points. The cost of the points will be rolled into the mortgage. Compute the monthly payments for mortgage option A. (round to the nearest cent) Compute the total cost of the home using mortgage option A. (round to the nearest dollar) $ Compute the monthly payments for mortgage option B. (round to the nearest cent) $ Compute the total cost of the home using mortgage option B. (round to the nearest dollar) \{ Assuming all other factors are the same, which mortgage option should you choose? Option A Option B There is no difference between the options There is not enough information to say
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