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Wally Bee purchased a new home for $500,000 with a $80,000 down payment. He financed the remainder with a 3% mortgage for 30 years.
Wally Bee purchased a new home for $500,000 with a $80,000 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? O $134,658 $129,353 O $115,365 $125,464
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