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These two are based upon the same principle but with different numbers. I need both answered please! Barbara and her husband Man.Atee have a mortgage
These two are based upon the same principle but with different numbers. I need both answered please!
Barbara and her husband Man.Atee have a mortgage of $300,000 for 30 years at a rate of 3.25% (annual). If they make a $100 extra principle payment each month, how much will they save in total interest over the life of the loan? \begin{tabular}{c} $148,417.19 \\ \hline$21,605.63 \\ \hline$170,022.82 \\ \hline$42,605.63 \end{tabular} Esther has a mortgage of $350,000 for 30 years at a rate of 3.00% (annual). If she makes a $200 extra principle payment each month, how much will she save in total interest over the life of the loan? \begin{tabular}{|c|} \hline$55,588.33 \\ \hline$35,588.33 \\ \hline$181,221.08 \\ \hline$145,632.75 \end{tabular}Step by Step Solution
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