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Use P ( r n ) [ 1 - ( 1 + r n ) - n t ] to determine the regular payment amount,
Use to determine the regular payment amount, rounded to the nearest dollar. Consider the following
pair of mortgage loan options for a $ mortgage. Which mortgage loan has the larger total cost closing costs
the amount paid for points total cost of interest By how much?
Mortgage A: year fixed at with closing costs of $ and point.
Mortgage B: year fixed at with closing costs of $ and points.
Choose the correct answer below, and fill in the answer box to complete your choice.
Do not round until the final answer. Then round to the nearest dollar as needed.
A Mortgage has a larger total cost than mortgage by $
B Mortgage A has a larger total cost than mortgage B by $
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