Question
Wally Bee purchased a new home for $450,000 with a $50,000 down payment. He financed the remainder with a 3% mortgage for 30 years. If
Wally Bee purchased a new home for $450,000 with a $50,000 down payment. He financed the remainder with a 3% mortgage for 30 years.
If Wally had originally planned on using a 15 year mortgage (also at 3%), how much would Wally save in interest expense compared to the 30 year mortgage?
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Taxation For Decision Makers 2019
Authors: Shirley Dennis Escoffier, Karen A. Fortin
9th Edition
1119497280, 978-1-119-4972, 1119497221, 9781119497226, 978-1119497288
